explain a large share of the observed US home bias, as well as other stylized facts on US cross-border asset holdings …

time-series variation in expected bond returns. Structural dynamic asset pricing models need to impute a central role to …

cases quantitatively reproduce: procyclical equity issuance; the negative relation between aggregate equity share and future …

time-varying weight in new lists, and one can decompose the market return into a fixed weight return plus a timing return …

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …