Almost 45 percent of U.S. Treasury securities and just under 20 percent of U.S. Agency securities (bonds and mortgage-backed securities (MBS)) are currently held by foreign investors. This paper addresses some key questions concerning these large foreign investments in U.S. Treasury and Agency...

This paper provides a framework for analyzing the effects of symmetric and asymmetric changes in information about risk on equilibrium real interest rate spreads across countries. Following the literature on parameter uncertainty, improvements in information are modeled as reductions in...

Globalization and a High-Tech Economy -- International Trade and California Industry -- Foreign Outsourcing and Domestic Industry -- Intra-Firm Trade and Intermediate Inputs -- International Networks and High-Tech Exports -- Global Linkages, the High-Tech Sector, and State Policy Choices --...