Using quarterly data over 35 years for the UK on asset returns and consumption expenditure, the traditional power utility consumption based capital asset pricing model (C-CAPM), the recursive preferences model proposed by Epstein and Zin (1991) and a habit formation specification model are...

We investigate the relationship between consumption and the term structure using U.K. interest rate data. We demonstrate that the term structure contains information about future economic activity as implied by the benchmark time separable power utility consumption based capital asset pricing...

Using a unique data set from the Thai stock market about the so-called, ‘Turnover List (TOL)' of speculative stocks spanning the period 2004–2012, we investigate and provide new evidence on the relationship between IPOs' pricing effects and subsequent classification as speculative...