We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost …

business income to tax authorities, we show that a fall in the tax rate may increase investment in risky entrepreneurial … business equity at the intensive margin, but decrease entrepreneurial investment at the extensive margin. To test these … due to tax avoidance or evasion, but increase investment in private businesses that are also worthwhile in the absence of …

, it turns out that bonds, equities and bills returns are actually predictable. This feature implies that the investment … conditional volatility across investment horizons. The results reveal the same kind of horizon effect as the one found in recent … returns with respect to bills and bonds returns decreases as the investment horizon grows. They suggest that long …

investment strategy for DC pensions. Workers who follow identical investment strategies but who retire a few years apart can … make sensible choices about portfolio allocation. Their investment errors mean that actual returns fall short of the …

managers manifests itself across different quantiles. These results have important implications for fund management companies …