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Expectations of fundamentals and stock market puzzles
Bordalo, Pedro; Gennaioli, Nicola; La Porta, Rafael; … - 2020
Persistent link: https://www.econbiz.de/10012240160
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Do Institutional Investors Destabilize Stock Prices? Evidence on Herding and Feedback Trading
Lakonishok, Josef - 1991
This paper uses a new data set of quarterly portfolio holdings of 769 all-equity pension funds between 1985 and 1989 to evaluate the potential effect of their trading on stock prices. We address two aspects of trading by money managers: herding, which refers to buying (selling) the same stocks...
Persistent link: https://www.econbiz.de/10012475147
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Long-term expectations and aggregate fluctuations
Bordalo, Pedro; Gennaioli, Nicola; La Porta, Rafael; … - In: NBER macroeconomics annual 38 (2024), pp. 311-347
Persistent link: https://www.econbiz.de/10014633621
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Overreaction and Diagnostic Expectations in Macroeconomics
Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - National Bureau of Economic Research - 2022
finance, which emphasize the extreme volatility and boom-bust dynamics of key time series, such as stock prices, credit, and … relaxing the assumption of rational expectations is a promising strategy, helps theory and evidence go together, and offers a …
Persistent link: https://www.econbiz.de/10013362010
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Overreaction and diagnostic expectations in macroeconomics
Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - In: The journal of economic perspectives : a journal of the … 36 (2022) 3, pp. 223-244
Persistent link: https://www.econbiz.de/10014227451
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Unstable banking
Shleifer, Andrei; Vishny, Robert W. - In: Journal of financial economics 97 (2010) 3, pp. 306-318
Persistent link: https://www.econbiz.de/10008660558
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X-CAPM : an extrapolative capital asset pricing model
Barberis, Nicholas; Greenwood, Robin; Jin, Lawrence; … - In: Journal of financial economics 115 (2015) 1, pp. 1-24
Persistent link: https://www.econbiz.de/10011327273
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Unstable banking
Shleifer, Andrei; Vishny, Robert W. - 2009
Persistent link: https://www.econbiz.de/10003841444
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Unstable Banking
Shleifer, Andrei - 2009
We propose a theory of financial intermediaries operating in markets influenced by investor sentiment. In our model …. Banks maximize profits, and there are no conflicts of interest between bank shareholders and creditors. The theory explains …
Persistent link: https://www.econbiz.de/10013160211
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Unstable Banking
Shleifer, Andrei - 2010
We propose a theory of financial intermediaries operating in markets influenced by investor sentiment. In our model …. Banks maximize profits, and there are no conflicts of interest between bank shareholders and creditors. The theory explains …
Persistent link: https://www.econbiz.de/10013152798