Does non-traded input necessarily deepen the international non-diversification puzzle I? : The one-good case

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Original languageEnglish
Pages (from-to)281-285
Journal / PublicationEconomics Letters
Issue number3
Publication statusPublished - Sept 1995
Externally publishedYes



This paper shows that, with non-traded inputs and only one good, the optimal portfolio should contain a larger share of foreign assets than domestic. It deepens the international non-diversification puzzle. © 1995 Elsevier Science B.V.

Research Area(s)

  • International non-diversification puzzle, Non-traded input, Endogenous labor supply, Diminishing returns to scale technology, Long position

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