G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w3496
来源IDWorking Paper 3496
The Globalization of Information and Capital Mobility
William H. Branson; Dwight M. Jaffee
发表日期1990-10-01
出版年1990
语种英语
摘要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 estimated variances. The equilibrium interest differential is determined in a two country setting. The effects of changes in information on the differential are shown in cases where (a) all investors have the same information, (b) home investors have superior information about home assets, and (c) all investors experience an improvement in information about one asset. An improvement in information on European assets in "Europe 1992" will raise the interest differential on U.S. assets relative to European as investors shift toward European assets.
主题Other ; Macroeconomics
URLhttps://www.nber.org/papers/w3496
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/560791
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GB/T 7714
William H. Branson,Dwight M. Jaffee. The Globalization of Information and Capital Mobility. 1990.
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