|Researchers:||Giuliano Curatola, Ilya Dergunov|
|Category:||Household Finance, Financial Markets|
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.
|176||Giuliano Curatola, Ilya Dergunov||International Capital Markets with Time-Varying Preferences||2017||Household Finance, Financial Markets||Asset pricing, general equilibrium, heterogeneous agents, interdependent preferences, portfolio choice|