Hedging against the Government: A Solution to the Home Asset Bias Puzzle

A-Tier
Journal: American Economic Journal: Macroeconomics
Year: 2013
Volume: 5
Issue: 1
Pages: 102-34

Authors (2)

Tiago C. Berriel (Pontifícia Universidade Católi...) Saroj Bhattarai (University of Texas-Austin)

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

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Abstract

We explain why international nominal bonds and equity portfolios are biased domestically. In our model, holding domestic government nominal debt provides a hedge against shocks to bond returns and

Technical Details

RePEc Handle
repec:aea:aejmac:v:5:y:2013:i:1:p:102-34
Journal Field
Macro
Author Count
2
Added to Database
2026-01-24