This article examines the presence of common factors in the evolution of stock option implied volatilities. We analyze the implied volatilities of ETF options and their largest component stocks, and the results strongly suggest the presence of both a market volatility factor and an industry...

While the relationship between oil prices and stock markets is of great interest to economists, previous studies do not differentiate oil-exporting countries from oil-importing countries when they investigate the effects of oil price shocks on stock market returns. In this paper, we address this...

External imbalance is a central variable in international economics and recent research shows it is priced in currency portfolios. But Ang et al. (2017), among others, show that with a small and time-varying cross section, tests with individual assets are preferable. We find testing with...