This paper introduces an alternate measure of idiosyncratic risk leveraged from the decomposition method to further eliminate the residual systematic risk inherent in the factor asset pricing model. Combining both complementary techniques contributes to a more comprehensive firm-level...

This research aims to compare different methods of measuring the middle class in middle-income countries. I compare income-based measures to socio-economic measures, using both per capita and equivalized incomes. First I calculate the size of the middle class using the different measures in six...