The spread between the rates on commercial paper and Treasury bills has received considerable attention in the literature for its role as an indicator of real economic activity. In this paper we empirically examine what happens when the volatility of the spread changes over time. We estimate a...

The authors describe a classroom experiment that motivates student understanding of behavior toward risk and its effect on money demand. In this experiment, students are endowed with an income stream that they can allocate between a risk-free fund and a risky fund. Changes in volatility are...

The purpose of this study is to investigate the impacts of a natural disaster on a developing country's economy. In that sense, we look at the impact of August 1999 earthquake in Turkey on two important macroeconomic indicators of the Turkish economy (Real Output and Employment) with recovery...

This paper examines the impact of news on the volatility of equity returns in three sectors of the health care industry - health care service providers, producers of drugs and supplies, and third-party payors. The news impact is found to be asymmetric in that bad news (i.e., a negative shock)...

The authors describe a classroom experiment that motivates student understanding of behavior toward risk and its effect on money demand. In this experiment, students are endowed with an income stream that they can allocate between a risk-free fund and a risky fund. Changes in volatility are...

The purpose of this study is to investigate the impacts of a natural disaster on a developing country’s economy. In that sense, we look at the impact of August 1999 earthquake in Turkey on two important macroeconomic indicators of the Turkish economy (Real Output and Employment) with recovery...