mood-related pricing effects can materialize as sporting events unfold. We do this by using intra-day stock prices for a … pricing effects. During the soccer matches, stock prices in the country that eventually loses are lower by up to seven basis …

forecasters. For a range of macroeconomic and financial variables, we compare constant and decreasing gain learning models to … simple, yet powerful benchmark models. We find that constant gain models provide a better fit for the expectations of … contrast, we find it difficult to beat the no-change benchmark using the adaptive learning models to forecast financial …

that closed-economy models of pension reform miss quantitatively important effects of international capital mobility. …

error correction models. Maximum likelihood estimators of the cointegrating vectors are constructed using iterated … cointegration rank across the individual vector error correction models, both with heterogeneous and homogeneous cointegrating … evidence for the validity of the monetary exchange rate model within a panel of vector error correction models for three major …