Francis E. Warnock

About

Francis E. Warnock is a James C. Wheat Jr. Professor in the Global Economies and Markets Area at the University of Virginia--Darden Business School. His research focuses on international finance, financial markets, and the macroeconomy.

Research topics

• Political Science
• Economics
• Physics
• Financial economics
• Macroeconomics
• Monetary economics
• Geography
• Business
• Microeconomics
• Market economy

Selected publications

• Capital flow waves—or ripples? Extreme capital flow movements since the crisis

  Journal of International Money and Finance · 2021 · 152 citations

  Senior authorCorresponding
  PublisherOA PDFDOI

• Foreign Investors and US Treasuries

  National Bureau of Economic Research · 2021-09-01 · 23 citations

  preprintOpen accessSenior author

  We build, from confidential security-level surveys, a novel dataset on the size, flows, coupon payments, and returns of the US Treasuries portfolios of foreign and US investors. The internally consistent dataset provides evidence on foreigners' Treasuries portfolios that sharply contrasts with what is portrayed in the literature. Foreigners do not earn spectacularly low returns; they have higher average annual risk-adjusted returns than US investors (although the differences are well within the…

  PublisherDOI

• A natural level of capital flows

  Journal of Monetary Economics · 2022 · 13 citations

  PublisherDOI

• Preferred Habitats and Timing in the World’s Safe Asset

  National Bureau of Economic Research · 2022-12-01 · 6 citations

  reportSenior author

  We build the first-ever comprehensive security-level dataset on the size, flows, coupon payments and returns of foreign and U.S. investors’ Treasury portfolios. Private U.S. and private foreign investors hold longer-duration higher-return Treasuries, whereas foreign governments hold shorter-duration lower-return Treasuries, so all else equal private investors should earn higher returns than foreign governments. But all else is not equal. Foreign governments, even with their low-returns low-volat…

  PublisherDOI

• Preferred Habitats and Timing in the World's Safe Asset

  SSRN Electronic Journal · 2022-01-01 · 2 citations

  articleOpen accessSenior author
  PublisherDOI

Frequent coauthors

• Stephanie E. Curcuru

  Federal Reserve

  149 shared

• Christian Leuz

  112 shared

• Karl V. Lins

  University of Utah

  104 shared

• Veronica Cacdac Warnock

  University of Virginia

  88 shared

• John D. Burger

  Loyola University Maryland

  81 shared

• Charles R. Thomas

  Dartmouth–Hitchcock Medical Center

  58 shared

• René M. Stulz

  55 shared

• Bong‐Chan Kho

  Seoul National University

  53 shared

Education

• Ph.D.

  University of Virginia--Darden Business School

Similar researchers at University of Virginia

• Dennis T. Yangh-32
• Daniel Murphyh-24
• Peter Debaereh-24