Discussion Paper
Introducing New Valuation Change Data for U.S. Cross-Border Portfolio Holdings
McCallum, Andrew H.; DeMane, Laura; Kim, Nyssa; Liu, Emily; Loucky, Andrew (2024-04-18)
The most comprehensive data on cross-border capital holdings for the United States come from the Treasury International Capital (TIC) System. These data inform the official U.S. balance of payments statistics and are crucial for understanding U.S. capital flows, their causes, and their effects on the U.S. economy.
FEDS Notes , Paper 2024-04-18

Working Paper
\"Fool Me Once . . . \" Did U.S. investors play it safer in the European debt crisis?
Kim, Nyssa; Bertaut, Carol C.; Cai, Fang (2013)
This paper examines U.S. investors? portfolio investment patterns since the global financial crisis, particularly since the European debt crisis that began in late 2009. The global financial crisis during 2007-2009 was accompanied by an increase in U.S. investors? home bias. U.S. investors experienced significant valuation losses and pulled back notably from their foreign investment, especially from foreign debt. In contrast, while they have also incurred sizable losses on cross-border investment during the European debt crisis, U.S. investors so far have not shown any increase in home bias, ...
International Finance Discussion Papers , Paper 1088