Linda L. Tesar

TL;DR: This article found that there is a home bias in national investment portfolios despite the potential gains from international diversification, and that the composition of the portfolio of foreign securities seems to reflect factors other than diversification of risk, such as cross-border capital flows and the high turnover rate on foreign equity investments relative to turnover on domestic equity markets.

TL;DR: In this paper, the authors incorporate nontraded goods in the model and find that the implications for aggregate consumption, investment, and the trade balance are consistent with business-cycle properties of industrialized countries.

TL;DR: In this paper, the authors proposed a method for computing tax rates using national accounts and revenue statistics. And they used this method to construct time-series of tax rates for large industrial countries.

TL;DR: In this article, the authors proposed a method for computing tax rates using national accounts and revenue statistics. And they constructed time series of tax rates for large industrial countries, identifying the revenue raised by different taxes at the general government level and defining aggregate measures of the corresponding tax bases.

TL;DR: In this paper, the authors incorporate nontraded goods in the model and find that the implications for aggregate consumption, investment, and the trade balance are consistent with business-cycle properties of industrialized countries.