Implications of factor-based asset pricing models for estimation of expecte d returns and for portfolio selection are investigated. In the presence of model mispricing due to a missing factor, the mispricing and the residual covariance matrix are linked together. Imposing a strong form of this...

This paper provides an explanation for an important institutional feature of staggered time-dependent adjustment rules assumed in a number of macroeconomic models (Fischer, 1977; taylor, 1980; Blanchard, 1986).

This paper deals with applying GIS and spatial statistics to hedonic modeling. More precisely, it looks at spatial autocorrelation and trend surface analysis (TSA) as devices that can be used to improve model performances. Empirical analysis is performed on the Charlesbourg 1986-87 bungalow...