We analyze a unique data set and uncover a remarkable result that casts a new light on the home bias phenomenon. The … play an important role in equity home bias and that the benefits of international risk sharing are limited to select firms …

The recent Boskin Commission Report (1996) underscores a significant upward bias in CPI measurement in the United …

The correlation bias refers to the fact that claim subordination in the capital structure of the firm influences claim … shown that the correlation bias shifts shareholder preferences towards highly correlated assets, making financial …

unsolicited bank ratings, however, we find strong evidence that rating conservatism is an important cause. The downward bias also …

currently employed in the literature might not eliminate bias arising from life-cycle effects. Specifically, I demonstrate that …

Most tax systems create a tax bias toward debt finance. Such debt bias increases leverage and may negatively affect … financial stability. This paper models and estimates debt bias in the financial sector, and present novel estimates for … investment banks and non-bank financial intermediaries such as finance and insurance companies. We find debt bias to be pervasive …