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The Household Finance and Consumption Survey (HFCS) provides information about house-hold wealth (real and financial … framework for our analysis is the "Guidelines for Micro Statistics on Household Wealth" from the OECD (2013). We have two main …
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Stock investments have become increasingly international, but only recently a deeper theoretical understanding of the forces influencing global stock market returns has been gained from empirical studies. This is a crucial issue for asset managers in order to control the risks and exposures of...
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There is a widespread belief that changes in expectations may be an important independent driver of economic fluctuations. The news view of business cycles offers a formalization of this perspective. In this paper we discuss mechanisms by which changes in agents' information, due to the arrival...
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