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A Gains from Trade Perspective on Macroeconomic Fluctuations

Beaudry, Paul - 2011

Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that … incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into … "gains from trade" approach can easily explain why changes in perceptions about the future (including "news" about the future …

Persistent link: https://www.econbiz.de/10012461366

The Effects of U.S. Monetary Policy on Emerging Market Economies' Sovereign and Corporate Bond Markets

Burger, John D. - 2017

We analyze the effect of the US Federal Reserve's monetary policy on EME sovereign and corporate bond markets by focusing on two dimensions: the evolution of the structure (size and currency composition) of the bond markets and their allocations within the bond portfolios of US investors. Global...

Persistent link: https://www.econbiz.de/10012455054

Currency Matters : Analyzing International Bond Portfolios

Burger, John D. - 2017

Currency denomination is a prominent feature in the analysis of the structure of international bond markets, but is largely absent from analyses of cross-border investment in debt securities. This omission owes in part to the limitations of widely used datasets such as the IMF's CPIS data (on...

Persistent link: https://www.econbiz.de/10012455507

U.S. Investment in Global Bonds : As the Fed Pushes, Some EMEs Pull

Burger, John D. - 2014

We analyze reallocations within the international bond portfolios of US investors. The most striking empirical observation is a steady increase in US investors' allocations toward emerging market local currency bonds, unabated by the global financial crisis and accelerating in the post-crisis...

Persistent link: https://www.econbiz.de/10012458094