NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Information Immobility and the Home Bias Puzzle

Stijn Van Nieuwerburgh, Laura Veldkamp

NBER Working Paper No. 13366
Issued in September 2007

---- Acknowledgements -----

Thanks to Campbell Harvey and an anonymous associate editor and referee for their comments, which substantially improved the paper. Thanks also to Dave Backus, Pierre-Olivier Gourinchas, Urban Jermann, David Lesmond, Karen Lewis, Arzu Ozoguz, Hyun Shin, Chris Sims, Eric Van Wincoop, Mark Wright, participants at the following conferences: AFA, Banque de France conference on Economic Fluctuations Risk and Policy, Budapest SED, CEPR Asset Pricing meetings in Gerzensee, 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 their hospitality and financial support through the Peter B. Kenen fellowship. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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