We provide methods of decomposing the variance of world national incomes into components in such a way as to indicate … eigenvectors of a variance matrix of residuals produced when country incomes are regressed on world income. Another method uses a … matrix of deviations of country incomes from their respective contract-year shares of world income. The two methods are …

We use textual analysis of earnings conference calls held by listed firms around the world to measure the amount of …

country risk, the paper discusses a number of modifications in the standard theory of efficient international financial … domestic and foreign assets become imperfect substitutes and that world demand for domestic assets is likely to be less than …

, especially those with fixed exchange rates. We propose a theory of reserve accumulation that can account for these facts. Using a …

We propose a new, valuation-based measure of world equity market segmentation. While we observe decreased levels of …