Macroeconomic Shocks and Portfolio Holdings over the French Business Cycle
Bricongne, Jean-Charles; Beaubrun-Diant, Kevin (2009-04), Macroeconomic Shocks and Portfolio Holdings over the French Business Cycle. https://basepub.dauphine.fr/handle/123456789/1848
TypeDocument de travail / Working paper
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Abstract (EN)The main contribution of this article is to provide a dynamic general equilibrium model of asset allocation for the French economy. We provide a theoretical explanation of the observed time variation in aggregate portfolio holdings and the occurrence of twin peaks in equity and house prices.
Subjects / KeywordsFrench Business Cycles; Asset Allocation, House Prices
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