. We critically examine popular stories such as 'gold is an inflation hedge'. We show that gold may be an effective hedge … hedge. We also explore valuation. The real price of gold is currently high compared to history. In the past, when the real …

franc (particularly in the second half of the period) have moved against world equity markets. Thus these currencies should … strategy for a global bond investor is close to a full currency hedge, with a modest long position in the US dollar. There is …

that investors are not willing to pay to hedge shocks in expected economic uncertainty …

seldom sufficient and always expensive to hold. In this paper we argue that adding richer hedging instruments to the … point with a simple quantitative hedging model, where optimally used options and futures on the S&P100's implied volatility …

conclusive evidence that they are positive, as theory predicts. This paper shows that the lack of empirical evidence is … consistent with theory if countries are in transition to FDI openness. Anticipated welfare gains lead to temporary declines in … reconciliation of theory and evidence is accomplished with a multicountry dynamic general equilibrium model parameterized with data …

-market economies. The chapter discusses the history, macroeconomic effects, theory, practice, and future of inflation targeting …

strives to partly redress this lacuna on the theory side by introducing three novel political economy mechanisms with …

cultural heterogeneity, the world's geographical fragmentation by ethic and religious traits, at any given time. Finally, the …