"We analyze the volatility surface vs. moneyness and time to expiration implied by MIBO options written on the MIB30 …, the most important Italian stock index. We specify and fit a number of models of the implied volatility surface and find … that it has a rich and interesting structure that strongly departs from a constant volatility, Black-Scholes benchmark …

explained by the standard general equilibrium theory if consumption demand is treated as the primary source of aggregate …

predictions of interest rates based on a general equilibrium theory are partially consistent with US data"--Federal Reserve Bank …