strong heterogeneity in their participation, trading volumes, and profits in QE auctions; (5) Auction bidding variables …The Federal Reserve (Fed) uses a unique auction mechanism to purchase U.S. Treasury securities in implementing its … quantitative easing (QE) policy. In this paper, we study the outcomes of QE auctions and participating dealers' bidding behaviors …

The Internet stimulates trade. Using a gravity equation of trade among 56 countries, we find no evidence of an effect … of the Internet on total trade flows in 1995 and only weak evidence of an effect in 1996. However, we find an increasing … that the effect of the Internet on trade has been stronger for poor countries than for rich countries, and that there is …