share of the equity home bias and obtain a currency exposure of bond portfolios comparable to the data … foreign real bonds. Bonds matter: in equilibrium, investors structure their bond portfolio to hedge real exchange rate risk … since relative bond returns are strongly correlated with real exchange rate movements. Equity home bias does not arise from …

We study the economic sources of stock-bond return comovements and its time variation using a dynamic factor model. We … stock and bond return correlations, but that other factors, especially liquidity proxies, play a more important role. The … macro factors are still important in fitting bond return volatility; whereas the "variance premium" is critical in …

This note considers a relatively new form of financing for social services, the "Social Impact Bond." Proponents of …

This paper develops an affine model of the term structure of interest rates in which bond yields are driven by …