Time-Varying Preferences and International Capital Markets

Project Start:01/2016
Status:Completed
Researchers:Giuliano Curatola, Ilya Dergunov
Category: Household Finance, Financial Markets
Funded by:LOEWE

Standard asset pricing models assume that individual preferences are exogenous and constant over time. Differently, intuition and anecdotal evidence suggest that individual preferences may evolve over time for many reasons. The main goal of this research project is to study the implications of preference evolution for the dynamics of international capital markets. In addition we would like to provide empirical evidence in favour of the mechanism of preference evolution.

Related Working Papers

No.Author/sTitleYearProgram AreaKeywords
176Giuliano Curatola, Ilya DergunovInternational Capital Markets with Time-Varying Preferences2017 Household Finance, Financial Markets Asset pricing, general equilibrium, heterogeneous agents, interdependent preferences, portfolio choice
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