NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

International Capital Flows and U.S. Interest Rates

Francis E. Warnock, Veronica Cacdac Warnock

NBER Working Paper No. 12560
Issued in October 2006

---- Acknowledgements -----

This is a revised version of International Finance Discussion Paper #840. Some of F. Warnock's work on this project occurred when he was a Senior Economist at the Board of Governors. The authors are indebted to Brian Sack for advice on an earlier draft. The authors also thank for helpful comments Joe Gagnon, Philip Lane, Jay Shambaugh, Grace Wong, and seminar participants at Darden's Financial Economics Workshop, Freddie Mac, IIIS at Trinity College Dublin, UVA Economics, UVA School of Architecture's Faculty Research Symposium III, and the International AREUEA conference in Los Cabos. E-mail addresses for the authors are warnockf@darden.virginia.edu and vwarnock@virginia.edu. F. Warnock thanks the Darden School Foundation for generous support. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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