correlations with developed countries' equity markets significantly reduces the unconditional portfolio risk of a world investor …

future? The usual risk factors are unable to explain the time-series variation in excess returns. In addition, our evidence … of futures prices. We find that the tactical strategies provide higher average returns and lower risk than a long …

We explore the different factors that drive expected returns in world markets. Our research offers two innovations …. First, the introduction of the Euro currency unit greatly reduces the complexity of including foreign exchange risk in asset … currency risk factors. Second, when combining the currency factors with a group of economic factors, we measure the incremental …

a sticky-price alternative to Lucas's (1982) exchage rate risk premium model. We show that the level risk premium' in …

We introduce a new, market-based and forward looking measure of political risk derived from the yield spread between a … factors: global economic conditions, country-specific economic factors, liquidity of the country's bond, and political risk …. We then extract the part of the sovereign spread that is due to political risk, making use of political risk ratings. In …

offer to help students prepare for the world of work,' and an accompanying survey includes information on school …