Private Information, Human Capital, and Optimal “Home Bias” in Financial Markets By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or “home bias”, from what standard finance models predict. Our model ascribes the “bias” to endogenous informati...

People are more willing to bet on their own judgments when they feel skillful or knowledgeable (Heath and Tversky, 1991). We investigate whether this ‘competence effect’ influences trading frequency and home bias. We find that investors who feel competent trade more often and have more internationally diversified portfolios. We also find that male investors, and investors with larger portfolios...

Breast tumors expressing estrogen receptor-A (ER) respond well to therapeutic strategies using selective ER modulators, such as tamoxifen. However, f30% of invasive breast cancers are hormone independent because they lack ER expression due to hypermethylation of ER promoter. Treatment of ERnegative breast cancer cells with demethylating agents [5-aza2¶-deoxycytidine (5-aza-dC)] and histone deac...

A collapse in international trade following the 2007-08 crisis has underscored many dangers of globalization and renewed interest in trade protectionism, one form of which is import quotas. The analysis of import quotas is predominantly based on a static model, which is unable to capture the fact that a quota is imposed over a period of time. This article develops a continuous-time model that i...

If there are benefits to international risk sharing, consumption growth variability should decrease following the liberalization of the equity market. In addition, markets with open equity markets should display lower consumption growth variability than closed markets, everything else equal. However, the recent literature on financial liberalization suggests that volatile capital flows lead to ...

Three strains of Trichoderma brevicompactum and another four that are closely related to that species (Trichoderma cf. brevicompactum) were analyzed for the formation of polypeptide antibiotics (peptaibiotics) by LC/ESI-MS(n). These isolates were selected because of an antagonistic potential against Eutypa dieback and Esca disease of grapevine and have not yet been investigated for the producti...

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. A reduced-form model approach was used to estimate the trade ...

Vorinostat is a histone deacetylase inhibitor that induces differentiation, growth arrest, and/or apoptosis of malignant cells both in vitro and in vivo and has shown clinical responses in f30% of patients with advanced mycosis fungoides and Sézary syndrome cutaneous T-cell lymphoma (CTCL). The purpose of this study was to identify biomarkers predictive of vorinostat response in CTCL using prec...

The transforming growth factor-B (TGF-B) signaling pathway has an important role in regulating normal prostate epithelium, inhibiting proliferation, differentiation, and both androgen deprivation–induced and androgen-independent apoptosis. During prostate cancer formation, most prostate cancer cells become resistant to these homeostatic effects of TGF-B. Although the loss of expression of eithe...