I perform a regression analysis to test two of the most famous heuristic rules existing in the literature concerning the behavior of the implied volatility surface. These rules are the <italic>sticky delta</italic> rule and the <italic>sticky strike</italic> rule. I present a new specification to test the sticky strike rule that...

This paper analyses to what extent the rejection of the investment dynamics implied by the Euler equation model with quadratic and symmetric adjustment costs can be attributed to the fact that the investment behavior of some firms in some periods is financially constrained by the availability of...