. Although these items are being shown by industry of U.S. parent in this annual presentation for the first time, they have been shown on this basis previously in publications showing the results of benchmark surveys of U.S. direct investment abroad. In addition, ’s annual data publications on foreign affiliate operations regularly include some data presented by industry of parent; the late...

This paper investigates the relationship between exchange rate uncertainty and the location of US foreign direct investment in Europe. We adopt a mean-variance approach to the standard q theory of investment in order to highlight the impact of exchange rate volatility and exchange rate correlation on investment. A firm concerned with both maximizing profits and minimizing risk would exploit any...

Why does globalization produce income inequality? Over the last twenty years we have seen a steep rise in income inequality worldwide that reversed a prior equalizing trend. The rise in inequality appears closely linked to the rapid increase in the integration of world trade and in international investment that we call economic globalization. We examine the relationship between foreign investme...

This paper investigates the effect of exchange rate uncertainty on the Iran’s import trade. The exchange rate ‎uncertainty series were generated utilizing the TARCH model. This model analyzes the asymmetric effects. The analysis of uncertainty and asymmetry ‎of the exchange rate shows significant TARCH ‎effect on Iran’s exchange rates‎. The findings of the study indicate negative shocks (bad ne...

* This article is a revised version of a lecture that was delivered to the Canadian Bankers Association in December 2003. apital markets and their related financial instruments make an important contribution to the welfare of Canadians. Canada’s equity, bond, foreign exchange, and derivative markets allow households to channel their savings to the productive investments of firms and governments...

The scaling properties encompass in a simple analysis many of the volatility characteristics of financial markets. That is why we use them to probe the different degree of markets development. We empirically study the scaling properties of daily Foreign Exchange rates, Stock Market indices and fixed income instruments by using the generalized Hurst approach. The robustness of the results is tes...

The American Jobs Creation Act of 2004 provided a substantial tax benefit to U.S. multinational corporations (MNCs) in the form of a temporary 85 percent deduction for repatriated dividends. An unforeseen consequence of this tax holiday may have also been to induce firms to reallocate domestic corporate profits toward low-tax foreign subsidiaries for immediate repatriation and thereby escape hi...