Victoria Vanasco

Center for Research in Economics and Statistics (CREST)
Department of Economics

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Investor Experiences and International Capital Flows
June 27, 2019 - Chapter
Author(s) - 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-based belief formation. Individual experiences of past macroeconomic outcomes have been shown to exert a long-lasting...
Investor Experiences and Financial Market Dynamics
June 2018 - Working Paper24697
Author(s) - Ulrike Malmendier, Demian Pouzo & Victoria Vanasco
How do macro-financial shocks affect investor behavior and market dynamics? Recent evidence suggests long-lasting effects of personally experienced outcomes on investor beliefs and investment but also significant differences across older and younger generations. We formalize experience-based...
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