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This paper explores the mean-reverting behavior of the unemployment rate using monthly geographically disaggregated … regimes at unknown points of time. We find that the Great Recession also altered the persistence of the unemployment rate …
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testing methodology that accounts for the nonlinearity and structural breaks. Using unemployment fluctuations as a proxy for … unemployment fluctuations reflects the effect of exchange rate volatility on corporate investment decisions, which in turn, drives … causality in the direction of exchange rates from unemployment possibly reflects the signals regarding monetary policy actions …
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This paper provides a novel perspective to the innovation-stock market nexus by examining the predictive relationship between technological shocks and stock market volatility using data over a period of more than 140 years. Utilizing annual patent data for the U.S. and a large set of economies...
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This paper examines intentional herding among institutional investors with a particular focus on the technology sector that was the driver of the “New Economy” in the United States during the dot-com bubble of the 1990s. Using data on technology stockholdings of 115 large institutional...
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