, preference heterogeneity causes countercyclical variations in the volatility of aggregate risk aversion. At times of high … volatility of aggregate risk aversion, which is a common factor in returns, we see high correlations. The calibrated model … aversion jointly explains average industry correlations, expected excess returns, standard deviations and turnover volatility …

excesses. This paper reviews existing theory and evidence on the efficacy of an FTT in fulfilling those tasks, on its potential …

(with causal feedback), and that they affect the exchange rate volatility. Finally, with weekly data we highlight that the … euro/dollar volatility "Granger-cause" the rate of return on stocks. …

results that pose implications for current market theory and offer potential practical applications. …

We analyze a new fluctuation test for constant correlation with respect to its properties and possible applications in …

path finding in a stochastic network, and that the impact is closely related to the levels of correlation and risk attitude. …