TY  - BOOK
AU  - European Investment Bank
AU  - Schmieder,Christian
AU  - Kollár,Miroslav
TI  - EIB Working Papers 2019/11 - Macro-based asset allocation: An empirical analysis 
T2  - EIB Working Papers
SN  - 9789286144899
PB  - European Investment Bank
KW  - Business & Economics / Finance
KW  - bisacsh
KW  - Economics
KW  - Electronic books
N1  - Access copy available to the general public
N2  - Macro-based asset allocation is based on the identification of turning points in macro-financial cycles. This paper suggests that macro-based asset allocation informed by trends in continuous business and financial cycle indicators could be a promising alternative for medium- and long-term investment strategies. Despite changes during the last three decades, the most promising specifications of this approach did roughly anticipate turning points in asset price cycles, implying favourable returns and low portfolio volatility
UR  - https://openresearchlibrary.org/content/e143c48b-7df8-4732-b050-a12f2aef9f34
ER  -