Using security-level credit spread data in eight developed economies, we document a large cross-country difference in credit spreads conditional on credit ratings and other default risk measures. The standard structural models not only fail to explain this cross-country variation in spreads but...

The corporate basis measures the pricing difference between dollar and foreign currency bonds issued by the same corporate entity. In this paper, we decompose the basis into a risky asset yield spread, a safe asset convenience yield, and FX hedging costs with the covered interest rate parity...

While regional data protection and privacy regimes are cited as a major barrier in cross-border digital trade, mitigating consumer privacy concerns through regulations can potentially increase the demand for foreign digital products or services. This study presents empirical evidence on this...