The Equilibrium Distributions of Value for Risky Stocks and Bonds
Within a unified theory for stocks and corporate bonds, based on dynamic optimization by investors, this paper derives analytical expressions for the momentary distributions of expected price,...
Are private capital flows to developing countries sustainable?
Dadush, Uri, Dhareshwar, Ashok, Johannes, Ron
The remarkable surge in private capital flow to developing countries since 1990 has greatly facilitated their rapid growth, at a time when OECD countries have been in, or passed through, recession....