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We study the behavior of active individual investors who hold foreign stocks and bonds directly. Using the Survey of Consumer Finances, we determine the demographic, financial, and behavioral characteristics that predict the likelihood of direct investments in foreign stocks and bonds. Our main findings are: (1) while aggregate data indicate substantial home bias, within the group of active individual investors in foreign stocks, there is no evidence of home bias, and (2) age, financial wealth, and proxies for investor confidence are positively related to direct ownership of foreign stocks and bonds, while proxies for lack of financial sophistication have a negative effect.
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This document contains proposed regulations under chapter 4 of Subtitle A (sections 1471 through 1474) of the Internal Revenue Code of 1986 (Code) regarding information reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and withholding on certain payments to FFIs and other foreign entities. These regulations affect persons making certain U.S.-related payments to FFIs and other foreign entities and payments by FFIs to other persons. This document also provides a notice of a public hearing on these proposed regulations.
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Although an increase in foreign assets and a decrease in foreign liabilities both increase a nation's net foreign assets (NFA), they have alternative macroeconomic transmission mechanisms: while an increase in foreign assets is expansionary, the effect of a decrease in foreign liabilities is mixed due to the asymmetry between its income effect and wealth effect on aggregate demand. It is the relative strengths of the NFA's wealth effect and income effect that determine the existence and natures of a saddle-point equilibrium in the NFA-real balance space as well as its comparative statics. The cointegration analysis suggests that in the 1990s, foreign liabilities bear more weight than foreign assets in the US NFA movement whereas the opposite holds for the case of Japan; therefore, corre...
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President Barack Obama is in many respects the opposite of Richard Nixon and George H. W. Bush, both foreign-policy presidents who subordinated their ...
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This article was originally published in the November/December issue of Corporate Taxation, [c] 2011 Thomson Reuters/WG&L.
The United States has for...
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Erikson and Hamilton investigate the extent to which newspapers are engaging in parachute journalism today, describe its current practice, and propose typologies that capture the complexity of the phenomenon. They find that parachute journalism, which is most often depicted as bad journalism, is an over-simplification, and that while they confirm the negatives, they also point to the positive aspects of newspapers attempting to draw their readers into international affairs by having a presence in a foreign land.
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1. INTRODUCTION
Over past three decades, many countries across the world which had been so far resisting free movement of capital to and from the co...
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DoD aids foreign populations under authorities to conduct humanitarian assistance in a variety of other circumstances, including as an adjunct to military training and exercises with and as part of military operations. * Building foreign military capacity and capabilities - DoD provides military equipment, weapons, training, and other assistance to build up the military capacity and capabilities of friendly foreign countries.
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1. INTRODUCTION
Accounting information is one of the most significant sources of financial information for analysis especially when it comes to esta...