The Predictability of International Real Estate Markets, Exchange Rate Risks and Diversification Consequences
نویسندگان
چکیده
منابع مشابه
International Asset Markets And Real Exchange Rate Volatility
The real exchange rate is very volatile relative to major macroeconomic aggregates and its correlation with the ratio of domestic over foreign consumption is negative (Backus-Smith puzzle). These two observations constitute a puzzle to standard international macroeconomic theory. This paper develops a two country model with complete asset markets and limited enforcement for international financ...
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ژورنال
عنوان ژورنال: Real Estate Economics
سال: 1998
ISSN: 1080-8620,1540-6229
DOI: 10.1111/1540-6229.00736