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G Gokkent Simultaneous Home Bias and CrossHolding
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adjustment agglomeration analysis assets average Banca d'Italia benefits capital flight central bank coefficient cointegration competition convergence currency area debt ratio deficit devaluation disinflation domestic Economia Internazionale economic growth effects empirical employment equation equilibrium estimates Europe European Commission European Union exchange rate expected exports factor firms fiscal policy foreign Genova Germany growth rate home preference hypothesis important income increase industrial inflation rate Institute integration Internazionale investment investors Italy Japan Journal labour market long-run Maastricht Maastricht Treaty macroeconomic manufacturing monetary policy Monetary Union negative nominal wage OECD optimum currency area output paper percent period portfolio price stability productivity growth real interest rates real wages reduce sectors significant single currency Statistics structural studies sustainability Table tax harmonization tax rate technological trade trend U.S. dollars unit labour costs unit root variables volatility World Bank