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Advanced Search Results For "ASSET sales & prices"

1 - 10 of 2,939 results for
 "ASSET sales & prices"
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Monetary Policy Risk: Rules versus Discretion.

Publication Type: Academic Journal

Source(s): Review of Financial Studies. May2022, Vol. 35 Issue 5, p2308-2344. 37p.

Abstract: Long-run asset pricing restrictions in a macro term structure model identify discretionary monetary policy separately from a policy rule. We find that policy discretion is an important contributor to aggregate risk. In addition, discretionary easing co...

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Asset Pricing with Fading Memory.

Publication Type: Academic Journal

Source(s): Review of Financial Studies. May2022, Vol. 35 Issue 5, p2190-2245. 56p.

Abstract: Building on evidence that lifetime experiences shape individuals' macroeconomic expectations, we study asset prices in an economy in which a representative agent learns with fading memory about unconditional mean endowment growth. With IID fundamentals...

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How Much Information Is Incorporated into Financial Asset Prices? Experimental Evidence.

Publication Type: Academic Journal

Source(s): Review of Financial Studies. Sep2021, Vol. 34 Issue 9, p4412-4449. 38p.

Abstract: We investigate the informational content of prices in financial asset markets. To do so, we use a large number of market experiments in which the amount of information held by traders is precisely observed. We derive a new method to estimate how much o...

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How is Liquidity Priced in Global Markets?

Publication Type: Academic Journal

Source(s): Review of Financial Studies. Sep2021, Vol. 34 Issue 9, p4216-4268. 53p.

Abstract: We develop a new global asset pricing model to study how illiquidity interacts with market segmentation and investability constraints in 42 markets. Noninvestable stocks that can only be held by foreign investors earn higher expected returns compared t...

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Demand Effects in the FX Forward Market: Micro Evidence from Banks' Dollar Hedging.

Publication Type: Academic Journal

Source(s): Review of Financial Studies. Sep2021, Vol. 34 Issue 9, p4177-4215. 39p.

Abstract: Using contract-level supervisory data, we show that dollar forward sales by non-U.S. banks that are initiated at the end of a quarter and mature shortly after it concludes trade at higher prices and higher volumes. These effects are driven by banks wit...

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Experience Does Not Eliminate Bubbles: Experimental Evidence.

Publication Type: Academic Journal

Source(s): Review of Financial Studies. Sep2021, Vol. 34 Issue 9, p4450-4485. 36p.

Abstract: We study the role of investor experience in the formation of asset price bubbles. We conduct a call market experiment in which participants trade assets with each other and a learning-to-forecast experiment in which participants only forecast future pr...

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Investment Shocks and Asset Prices: An Investment-Based Approach.

Publication Type: Academic Journal

Source(s): Journal of Financial & Quantitative Analysis. Dec2020, Vol. 55 Issue 8, p2665-2699. 35p.

Abstract: We propose a new approach, based on investment data, to determine firms' return exposure to investment-specific technology (IST) shocks. When applied to U.S. data, we find that, in contrast to the pattern estimated from empirical IST proxies, value fir...

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Model of Two Days: Discrete News and Asset Prices.

Publication Type: Academic Journal

Source(s): Review of Financial Studies; May2022, Vol. 35 Issue 5, p2246-2307, 62p

Abstract: Copyright of Review of Financial Studies is the property of Oxford University Press / USA and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users m...

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Distortions and Efficiency in Production Economies with Heterogeneous Beliefs.

Publication Type: Academic Journal

Source(s): Review of Financial Studies; Apr2022, Vol. 35 Issue 4, p1775-1812, 38p

Abstract: Copyright of Review of Financial Studies is the property of Oxford University Press / USA and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users m...

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Which Alpha?

Publication Type: Academic Journal

Source(s): Review of Financial Studies. Apr2017, Vol. 30 Issue 4, p1316-1338. 23p.

Abstract: A common approach to comparing asset pricing models involves a competition in pricing test-asset returns. In contrast, we show that for models with traded factors, when the comparison is framed appropriately in terms of success in pricing both the test...

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