This paper brings together the literature on determination of home bias in equity holdings and the portfolio balance model of exchange rates to consider whether the dollar might be affected by a change in transactions costs that alters international portfolio allocations. The empirical findings...

Monetary policy transmission from the developed to the developing world.

Asks the question "Is access to credit an obstacle for firms in emerging markets?" and presents data demonstrating how lack of access to credit creates obstacles that affects a firm's bottom line. Further explains how firms with only access to weaker financial services are condemned to a slower...

The global financial crisis revealed the fragility of the global fnancial framework under the current Basel agreements and provided an impetus not only for curtailing the risky activity of banks but also for rethinking what affects the stability of the global fnancial system. The recent Basel...

Despite more than half a century of research on forecasting stock market returns, most predictive models perform quite poorly when they are put to the test of actually predicting equity returns. In fact, many authors, including Bossaerts and Hillion (1999), Brennan and Xia (2005), and Welch and...

This research estimates the financial returns to owning old Italian violins and discusses whether these instruments should be part of an overall investment portfolio.

By the end of 2009, privately-held U.S. Treasury debt stood at 53.0% of the gross domestic product (GDP), double the share from when President George W. Bush took office nine years ago. So how will we as a nation cover these interest payments and ultimately pay off this debt?