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        <dc:title>Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements</dc:title>
        <dc:creator>Leung, Charles Ka Yui</dc:creator>
        <dc:creator>Teo, Wing Leong</dc:creator>
        <dc:subject>R10 - General</dc:subject>
        <dc:subject>E32 - Business Fluctuations ; Cycles</dc:subject>
        <dc:subject>E52 - Monetary Policy</dc:subject>
        <dc:description>A multi-region, dynamic stochastic general equilibrium (MRDSGE) model is built to show that differences in the price elasticity of housing supply can be related to stylized facts on regional differences in (1) house price level, (2) house price volatility, (3) monetary policy
propagation mechanism and (4) household asset portfolio. In addition, regional house prices are found to move more closely with regional fundamentals than with the national GDP. The correlation between the national stock price and the regional housing price also vary significantly across regions, which suggests that optimal portfolio should be region specific.</dc:description>
        <dc:date>2010-12</dc:date>
        <dc:type>MPRA Paper</dc:type>
        <dc:type>NonPeerReviewed</dc:type>
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        <dc:language>en</dc:language>
        <dc:identifier>https://mpra.ub.uni-muenchen.de/28216/1/MPRA_paper_28216.pdf</dc:identifier>
        <dc:identifier>  Leung, Charles Ka Yui and Teo, Wing Leong  (2010): Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements.    </dc:identifier>
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