This paper proposes a novel approach to determine whether mutual funds time the market. The proposed approach builds on a heterogeneous agent model, where investors switch between cash and stocks depending on a certain switching rule. This represents a more flexible, intuitive, and parsimonious...

This paper contributes to the discussion whether changes in house prices can be explained by fundamental factors or trends. Using a long-term time series covering 350 years of house prices along the Herengracht in Amsterdam, we examine whether a fundamental factor or a trend explains house...

All over the world there is a strong infatuation towards real estate. Nevertheless there seems to be a (sub)conscious omission in incorporating this stylised fact into the academic literature. The decision of buying residential property may be one of the most important transaction people will...