This paper investigates the predictability of the economic policy uncertainty (EPU) on factor returns in the Chinese market. We find that the EPU significantly and negatively predicts the size premium (i.e., SMB, small-minus-big returns) in both short and long horizons. However, such results are...

Using newly digitized data on the growth of the telegraph network in America during 1840-1852, the paper studies the impacts of the electric telegraph on national elections. I use proximity to daily newspapers with telegraphic connections to Washington to generate plausibly exogenous variation...

For liquidity providers in the rapidly-growing crypto options market as well as potential institutional investors in crypto options, we test the joint efficiency of the bitcoin options and perpetual futures markets, and likewise for ether, and identify the frequency and magnitude of arbitrage...

We adopted the simple average Divisia index approach to explore the impacts of factors on the carbon dioxide (CO2) emissions from road freight transportation in China from 1985 to 2007. CO2 emissions were investigated using the following as influencing factors: the emission coefficient, vehicle...

Employing monthly data over the period 1999-2010, this paper examines the impact of China's exchange rate regime reform in July 2005 on three major asset markets: house, land, and stocks. We test whether the reform, which switches from a fixed exchange rate regime to a managed floating one, has...

We study a far-reaching episode of demagoguery in American history. From the late 1940s to 1950s, anti-communist hysteria led by Senator Joseph McCarthy and others gripped the nation. Hundreds of professionals in Hollywood were accused of having ties with the communist. We show that these...