Two alternative approaches to identifying a model confidence set (MCS) are contrasted. Together with a specification of the established MCS test, we present a new version of a test that identifies a model set satisfying the MCS requirements and is characterised by an alternative model ranking...

We create individual cultural values measures for households and show that this is an important determinant of their financial behavior. To date, personal cultural values have only been indirectly measured through religion and trust. But these are, at best, an approximation of true cultural...

Empirical investigations of the Fama-French three-factor asset pricing model have produced decidedly mixed results, particularly outside of the US market. Two recently proposed alternative multifactor models share a common core of the addition of profitability and investment as factors, but...

We assess the dynamics of the cryptocurrency liquidity pools at the heart of Decentralised Finance (DeFi). We distinguish between liquidity provision and liquidity demand, and show that yields, rather than risks, are the primary factor in determining liquidity provision to these pools. While,...

We assess the dynamics of the cryptocurrency liquidity pools at the heart of Decentralised Finance (DeFi). We distinguish between liquidity provision and liquidity demand, and show that yields, rather than risks, are the primary factor in determining liquidity provision to these pools. While,...