We test whether the unconventional monetary policy (UMP) announcements by the Federal Reserve and the European Central Bank represent a risk factor for the hedge fund industry as a whole and for ten commonly used strategies in particular. Using modified event studies and Markov switching models,...

This research uses spectral methodology to study how the volatility of spot exchange rate misalignments changed as a result of signing of the Plaza Accord and introduction of the Euro. We study the deviations of Canadian Dollar/US Dollar, Japanese Yen/US Dollar and US Dollar/British Pound spot...

"An ideal patent system balances the returns to inventors and the dissemination of new technologies. This article examines legal policy instruments - encompassing duration, scope and strength of patent protection, as well as invention disclosure and novelty requirements - and R&D subsidies that...