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econ.GN2020
Investor Experiences and International Capital Flows
Ulrike Malmendier, Demian Pouzo, Victoria Vanasco
We propose a novel explanation for classic international macro puzzles regarding capital flows and portfolio investment, which builds on modern macro-finance models of experience-b…
econ.GN2016
Investor Experiences and Financial Market Dynamics
Ulrike Malmendier, Demian Pouzo, Victoria Vanasco
How do macro-financial shocks affect investor behavior and market dynamics? Recent evidence on experience effects suggests a long-lasting influence of personally experienced outcom…