I analyze the relationship between labor intensity -- the wages to revenue ratio -- and a firm's risk and book-to-market ratio in a production model. Under plausible parameters, labor intensive firms are riskier and exhibit higher book-to-market ratios than capital intensive firms. Covariance...

Slow onset climate change has the potential to cause significant migration flows. Scientists have recently made considerable efforts to quantify these flows based on empirical methods. However, the literature on international migration has failed to come to a clear conclusion as many studies...

Using Australian capital city data from 1984Q3-2008Q2, this paper utilizes a dynamic present value model within a VAR framework to construct fundamental time series of house prices depicting what aggregate house prices should be given expectations of future real disposable income - the...

We study the cross-section of stock returns with observed short interest and long positions of hedge funds. During the period 1997-2014, 30% of highly shorted stocks also have the highest level of hedge fund holdings. Stocks with both high short interest and high hedge fund holdings do not earn...

We find a significant negative relationship between stock returns during the week and the reported incidence of domestic violence during the weekend. Our findings suggest that wealth shocks caused by the stock market can affect stress levels within families, escalate arguments, and trigger...

This paper examines the private unobserved migration propensity of married individuals using bounds to circumvent the issue of partial observability. Applied to the population of Danish couples aged between 25 to 39, this approach leads to two main results. First, we find convincing evidence...