Human capital, endogenous information acquisition, and home bias in financial markets by Isaac Ehrlich

Cover of: Human capital, endogenous information acquisition, and home bias in financial markets | Isaac Ehrlich

Published by National Bureau of Economic Research in Cambridge, MA .

Written in English

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Edition Notes

Book details

StatementIsaac Ehrlich, Jong Kook Shin, Yong Yin.
SeriesNBER working paper series -- working paper 15668, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15668.
ContributionsShin, Jong Kook., Yin, Yong, 1967-, National Bureau of Economic Research.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL24082933M
LC Control Number2010655689

Download Human capital, endogenous information acquisition, and home bias in financial markets

Human Capital, Endogenous Information Acquisition, and Home Bias in Financial Markets across international markets. The innovation we offer is ascribing home bias to endogenous information acquisition, or “asset management” (see EHY ), resulting from variations in human capital endowments.

Isaac and Shin, Jong Kook and Yin, Yong Cited by: 2. Human Capital, Endogenous Information Acquisition, and Home Bias in Financial Markets Article in SSRN Electronic Journal July with 14 Reads How we measure 'reads'.

Downloadable. Considerable attention has been devoted in the financial literature to excessive portfolio concentrations in domestic risky assets relative to those predicted by standard finance models-generally identified as"home bias"-across international markets.

The innovation we offer is ascribing home bias to endogenous information acquisition, or"asset management"(see. Human Capital, Endogenous information acquisition Information Acquisition,and Home Bias in Financial Markets. The innovation we offer is ascribing home bias to endogenous information acquisition, or"asset management"(see EHY ), resulting from variations in human capital endowments.

We develop discriminating hypotheses about the roles of"specific" and"general Author: Isaac Ehrlich, Jong Kook Shin and Yong Yin.

* This working paper was entitled “Human Capital, Endogenous Information Acquisition, and Home Bias in Financial Markets” in its previous incarnation.

This paper is a significantly expanded version of an earlier draft that was presented in the conference “New Directions in the Economic Analysis of Education” sponsored by the Milton Friedman Institute of the University of Chicago and the Center for Human Capital. Our model ascribes the “bias” to endogenous information acquisition bolstered by investors’ human capital.

We develop discriminating hypotheses about the influence of “specific” and “general” human capital endowments and direct and opportunity costs of managing risky assets in determining whether to hold these assets, and how the assets’ portfolio shares vary across investors and financial markets.

Our model ascribes the "bias" to endogenous information acquisition bolstered by investors' human capital. We develop discriminating hypotheses about the influence of "specific" and "general" human capital endowments and direct and opportunity costs of managing risky assets in determining whether to hold these assets, and how the assets' portfolio shares vary across investors and financial.

Our model ascribes the "bias" to endogenous information acquisition bolstered by investors' human capital. We develop discriminating hypotheses about the influence of "specific" and "general" human capital endowments and direct and opportunity costs of managing risky assets in determining whether to hold these assets, and how the assets' portfolio shares vary across investors and and home bias in financial markets book.

Optimal “Home Bias” in Financial Markets Like Ehrlich et al., we view private information acquisition or “asset management” (cf.

Ehrlich and Ben-Zion ) as wealth exerts similar patterns of demand and home bias to those of general human capital at both the micro and macro levels, whereas the.

See also Journal Article in Journal of Human Capital () Human Capital, Endogenous Information Acquisition,and Home Bias in Financial Markets Working Papers, Hong Kong Institute for Monetary Research View citations (1) Asset Management, Human Capital, and the Market for Risky Assets.

Financial Markets, the Real Economy, and Self-fulfilling Uncertaintiespages – A Vintage Model with Endogenous Growth and Human Capital. International Journal of Economic Theory, 15,Adverse Selection and Self-fulfilling Business Cycles Endogenous Information Acquisition and Countercyclical Uncertainty.

Barron and Ni () studied the impact of asymmetric information on equity home bias in international finance. By developing a rational anticipation model where information acquisition is endogenous, the authors found a relation between the portfolio size, the information cost and the degree of home bias in each country.

The innovation we offer is ascribing home bias to endogenous information acquisition, or “asset management” (see EHY ), resulting from variations in human capital endowments. Human Capital, Endogenous Information Acquisition,and Home Bias in Financial Markets Working Papers, Hong Kong Institute for Monetary Research View citations (1) Taxing Guns vs.

Taxing Crime: An Application of the "Market for Offenses Model" NBER Working Papers, National Bureau of Economic Research, Inc View citations (3).

The human capital profile of EWS, H EWS, is a segment sales weighted average of its four industry segments’ human capital profile er, for example, the occupation graphic designer in EWS's human capital profile vector. 16 The percentage of employees working in this occupation in EWS's industry segments (NAICS codes,and.

‪Newcastle University‬ - ‪Cited by 29‬ - ‪macroeconomics‬ - ‪financial economics‬ - ‪human capital‬. Editor in Chief - Journal of Human Capital. 60th Street.

Chicago, IL United States. Coen, A. () “Home Bias and International Capital Asset Pricing Model with Human Capital”, Journal of Multinational Financial Management, 11 (4–5): – CrossRef Google Scholar Cooper, I.A. and Kaplanis, E. () “Home Bias in Equity Portfolios, Inflation Hedging, and International Capital Market Equilibrium”, Review of.

The book provides an invaluable stepping stone for research in the field of human capital, inequality and economic growth.’ Omer Moav - Hebrew University, Jerusalem ‘The economics of education has undergone a major revival in recent years and this book provides a timely discussion of many of the key areas in this thriving research field.

“Human Capital, Endogenous Information Acquisition and Home Bias in Financial Markets,” Hong Kong Institute for Monetary Research. () “Taxing guns vs. taxing crime: An application of the “market for offenses model”,” Journal of Policy Modeling, Elsevier, vol.

32(5), pagesSeptember. These relations are stronger or only present in acquisitions where the merging firms do not operate in the same industries or product markets. Reductions in employment and wages following mergers with high human capital relatedness suggest that the merged firm has greater ability to layoff low quality and/or duplicate employees and reduce labor.

Ehrlich, Isaac. Ehrlich, Isaac, Isaac Ehrlich American sociologist VIAF ID: (Personal) Permalink: Ronaldo Carpio, Meixin Guo, Yuan Liu, Ju Hyun Pyun, Wealth Heterogeneity, Information Acquisition and Equity Home Bias, SSRN Electronic Journal, /ssrn, ().

Crossref Seyoung Park, A New Science of Finance for Addressing the Challenge of Uncertainty: Thoughts on the Future, SSRN Electronic Journal, /ssrn, ().

The problem of population and growth: A review of the literature from Malthus to contemporary models of endogenous population and endogenous growth by Ehrlich, Isaac & Lui, Francis; Optimal portfolio and consumption decisions in a stochastic environment with precommitment by Ehrlich, Isaac & Hamlen, William Jr.

My early work on Endogenous Growth of output and population. HISTORY of the Theory of Economic Growth in the Making. Human Capital Accumulation and Endogenous Growth (Razin, Metroeconomica ) Content for New section Tag Goes Here.

Human Capital Accumulation and Technological Change (Razin,link, Review of Economic Studies ) 3. LogEc provides access and usage for services based on the RePEc data set. LogEc is hosted by the Örebro University School of Business. Questions or comments.

Please see our explanation of how the statistics are collected or e-mail. The method to create the human capital can be categorized into two types. The first is to utilize ‘human as labor force’ in the classical economic perspective.

This meaning depicts that economic added-value is generated by the input of labor force as other production factors such as financial capital, land, machinery, and labor hours. Endogenous Cycles and Human Capital* hours, in order to infer movements in skill-acquisition activities, they find that human capital Seegmuller and Verchère ; Palivos and Varvarigos ) or financial intermediation (e.g., Banerji et al.

Furthermore, it should be noted that whereas. Journal of Financial Economics, 46(1),pp; Barron, J.M. Ni, J. Endogenous asymmetric information and international equity home bias: the effects of portfolio size and information costs. Journal of International Money and Finance, 27(4),pp; Van Nieuwerburgh, S.

Veldkamp, L. Information immobility and the home bias. Arjun K, A. Sankaran, Sanjay Kumar, Mousumi Das An endogenous growth approach on the role of energy, human capital, finance and technology in explaining manufacturing value-added: A multi-country analysis, Heliyon 6, no.7 7 (Jul ): e prices for human capital.

Throughout, we assume that there are perfect capital markets. The separation theorem referred to in the title of this section will show that, with perfect capital markets, schooling decisions will maximize the net present discounted value of the individual.

More speci fically, consider an individual with an. Endogenous Gentrification and Housing Price Dynamics. Veronica Guerrieri (University of Chicago) Dan Hartley (Federal Reserve Bank of Cleveland) Erik Hurst (University of Chicago) Paper .pdf)» | Watch Video» Human Capital, Endogenous Information Acquisition, and "Home Bias" in Financial Markets.

Isaac Ehrlich (SUNY Buffalo). Europe: An Empirical Exercise under Endogenous Framework Ashok Thomas* and Luca Spataro† Abstract Households’ stock market participation has significant effects on savings and on an economy’s financial development and performance.

Yet participation into capital markets is limited and quite heterogonous both among and within several countries. Endogenous Growth with Human Capital Consider the following endogenous growth model with both physical capital (k(t)) and human capital (h(t)) in continuous time. The representative household solves the De–ne a sequential markets equilibrium.

(c) Characterize the solution to each consumer™s problem in a sequential markets. Human capital research has helped explain the value of pay increases to motivate workers. Other work has explored how paying parents to keep their children in school in developing countries can boost progress in those nations.

The research on human capital also has explained the huge differences in outcomes during the current financial crisis. “Private Information, Human Capital, and Optimal “Home Bias” in Financial markets”, with Jong Kook Shin and Yong Yin, Journal of Human Capital, University of Chicago Press, vol 5(3), pages Creating a comprehensive approach to human capital management.

Abstract. Human capital transformation is an approach that helps companies define, structure and realize their human capital management strategy by focusing on the development and delivery of services that target their most important assets — employees.

A second source of country-specific risks that could potentially explain home bias arises from components of wealth that are not traded in financial markets, especially human capital. This explanation notes that the capital asset pricing model implicitly assumes that all.

July 15 Event Explores Origin and Mitigation of Behaviors for Greater Inclusion WASHINGTON, D.C. – To further the mission for equality, diversity and inclusion, both personally and within the equipment finance industry, the ELFA Equality Steering Committee sponsored the July 15 webinar “An Introduction to Unconscious Bias.”.

Based on Admati's () and Gehrig's () noisy rational expectation models, the author tries to explain the effect of asymmetric information in the home equity bias puzzle. While asymmetric information helps to explain the puzzle for the case of one domestic, and one foreign equity, this result relies on very restrictive assumptions.

Introduction to Human Capital Investments 1 Chapter 1. The Basic Theory of Human Capital 3 1. General Issues 3 2. Uses of Human Capital 4 Training in Imperfect Labor Markets 5. General Equilibrium with Imperfect Labor Markets Endogenous Job Destruction 5.

A Two-Sector Search Model Chapter Composition of Jobs Therefore, strategic choices are endogenous in performance equations. Despite increasing efforts by various scholars in solving endogeneity bias, prior attempts have almost exclusively focused on single, one-sided, and discrete (binary) organizational decisions.Title: Information Acquisition, Decision Making, and Implementation in Organizations (joint with Hideshi Itoh) July 11 --date changed.

Speaker: Chiaki Moriguchi (Hitotsubashi U) Title: Asia’s Little Divergence: State Capacity in China and Japan before (joint with Tuan-Hwee Sng) July Speaker: Shintaro Miura (Kanagawa U).

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