On the Internationalization of Portfolios

William C. Brainard () and James Tobin
Additional contact information
William C. Brainard: Cowles Foundation, Yale University, https://economics.yale.edu/people/emeritus/william-brainard

No 991, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Portfolio theory has been an important component of open economy macroeconomic models. In those models, it is essential to distinguish among several categories of assets, both foreign and domestic, and to specify the demands and supplies. This framework has become increasingly relevant. Movements of capital across regional and national boundaries, and across currencies, have exploded in volume, thanks to the dismantling of currency and exchange controls and other financial regulations and to revolutionary economies in technologies of communication and transactions. The globalization of financial markets was stimulated by the floating exchange rate regime established in 1973.

Keywords: Portfolio choice; open economy; capital mobility; exchange rate (search for similar items in EconPapers)
JEL-codes: F21 F31 F41 G11 (search for similar items in EconPapers)
Pages: 53 pages
Date: 1991-10
Note: CFP 840.
References: Add references at CitEc
Citations: View citations in EconPapers (8)

Published in Oxford Economic Papers (1992), 44: 533-565

Downloads: (external link)
https://cowles.yale.edu/sites/default/files/files/pub/d09/d0991.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
Journal Article: On the Internationalization of Portfolios (1992)
Working Paper: On the Internationalization of Portfolios (1991)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:991

Ordering information: This working paper can be ordered from
Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
The price is None.

Access Statistics for this paper

More papers in Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Yale University, Box 208281, New Haven, CT 06520-8281 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Brittany Ladd ().