Stijn Van Nieuwerburgh is with NYU Stern's Finance Department and NBER and Laura Veldkamp is with NYU Stern's Economics Department and NBER. Thanks to Campbell Harvey and an anonymous associate editor and referee for their comments, which substantially improved the paper. Thanks also to Pol Antras; Dave Backus; Pierre-Olivier Gourinchas; Urban Jermann; David Lesmond; Karen Lewis; Anthony Lynch; Arzu Ozoguz; Hyun Shin; Chris Sims; Eric Van Wincoop; and Mark Wright; participants at the following conferences: AEA, AFA, Banque de France conference on Economic Fluctuations Risk and Policy, Budapest SED, CEPR Asset Pricing meetings in Gerzensee, CEPR-National Bank of Belgium conference on international adjustment, Cleveland Fed International Macroeconomics and Finance conference, Econometric Society, EEA, Financial Economics and Accounting, Financial Management Association, Prague workshop in macro theory, NBER EF&G meetings, and NBER summer institute in International Finance and Macro; and seminar participants at Columbia GSB, Emory, Illinois, Iowa, GWU, LBS, LSE, Minneapolis Fed, MIT, New York Fed, NYU, Ohio State, Princeton, Rutgers, UCLA, UCSD, and Virginia for helpful comments and discussions. Laura Veldkamp thanks Princeton University for its hospitality and financial support through the Peter B. Kenen fellowship.
Information Immobility and the Home Bias Puzzle
Version of Record online: 20 MAY 2009
© 2009 the American Finance Association
The Journal of Finance
Volume 64, Issue 3, pages 1187–1215, June 2009
How to Cite
VAN NIEUWERBURGH, S. and VELDKAMP, L. (2009), Information Immobility and the Home Bias Puzzle. The Journal of Finance, 64: 1187–1215. doi: 10.1111/j.1540-6261.2009.01462.x
- Issue online: 20 MAY 2009
- Version of Record online: 20 MAY 2009
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