The presence of cross-sectionally correlated error terms invalidates much inferential theory of panel data models …

than by GARCH type volatility estimates. The t-DCC estimation procedure is applied to a portfolio of daily returns on … suggest a general trend towards a lower level of return volatility, accompanied by a rising trend in conditional cross …

with disdain for work. We propose an economic theory of preference formation where both the divergence of attitudes across … social classes and the ensuing reversal of economic fortunes are equilibrium outcomes. In our theory, parents shape their …

Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke andGertler 1989). We follow … this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks … are a good candidate to solve the volatility puzzle and rejoin Pissarides (2009) in arguing that hiring costs must be …

measurement in influencing economic decisions. They attempt to measure uncertainty by indexes of volatility of the stock market …

existing belief elicitation results, (ii) can we avoid potential hedging confounds? Our results instill confidence regarding … both issues. We propose an experimental design that eliminates hedging opportunities, and use this to test for the … empirical relevance of hedging effects in the lab. We find no evidence for hedging, comparing the standard "hedging …