autoregressive conditional heteroskedasticity framework for global wealth and happiness represented, respectively, by FTSE All-World … happiness significantly mitigate wealth volatility, and daily wealth returns positively affect the changes in happiness … sentiment. These findings reveal a spiral transmission in daily changes in happiness sentiment and global wealth volatility and …

This paper constructs a global tail risk (GTR) index and examines the role of GTR in predicting the volatility of … international stock markets. Our empirical results emphasize that GTR contains valuable information to predict the stock volatility … improve the forecasting accuracy of international stock market volatility, especially considering the time-varying regime …