In this paper we construct a new methodology to measure the international income smoothing and present stronger connectionbetween international asset holding and international income smoothing for OECD countries.

In this paper we construct a new methodology to measure the international income smoothing and present stronger connection between international asset holdings and international income smoothing for OECD countries.

In the wake of monetary unification euro area bond and equitymarkets have become increasingly integrated. As an evidence of integration in those markets, the volume of international financial asset trading increased considerably. Nevertheless, the substantial decline in home bias among the...

In this paper, we make two contributions to the literature. First, we construct a new measurement to capture income smoothing effectively. Second, we present new empirical evidence on the linkages between international asset trading and income smoothing. We use factor income inflows instead of...

In the first era of financial globalization (1880-1914), global capital market integration led to substantial net capital movements from rich to poor economies. The historical experience stands in contrast to the contemporary globalization where gross capital mobility is equally high, but did...

We look at the wealth generated for shareholders of energy assets in Central and Eastern Europe (CEE) by the announcement of cross-border mergers or acquisitions involving a bidder from a Western industrialized country between 1995 and 2005. The impact on both the performance improvements at the...

This study explores the effects of globalization on gender inequality. Specifically, we depict that, in terms of capital market integration, globalization alters the gender gap in wage rates through changes in labor demand for capital-intensive sectors. Consequently, globalization leads to...

This paper analyzes links between institutional harmonization and bilateral portfolio debt and equity holdings at the sectoral level. Motivated by the action plan for the European Capital Markets Union, we examine the potential for legal harmonization and convergence in institutional quality to...