This paper aims to survey selected recent papers presenting new evidenceon an age-old question in financial economics: “Are stock market returnspredictable?”. The hypothesis that equity returns are predictable (specificallyat long horizons) has been called a “new fact in finance” by...

This paper surveys selected applications of the Lorenz curve and related stochasticorders in economics and econometrics, with a bias towards problems in statisticaldistribution theory. These include characterizations of income distributions in termsof families of inequality measures, Lorenz...

Obesity has become a major health issue. Research in economics has providedimportant insights as to how technological progress reduced the relative price of food andcontributed to the increase in obesity. However, the increased availability of food might wellhave overstrained will power and led...

We consider a median voter model with uncertainty about how theeconomy functions. The distribution of income is exogenously given andthe provision of a public good is ¯nanced through a proportional tax.Voters and politicians do not know the true production function for thepublic good, but by...