Actively managed Swedish equity mutual funds outperform the market in 1993-2001 but have negative gross and net excess returns of -0.18 and -1.47 per cent per year in 2002-2013. Across funds, there is no correlation between activism and return in the later period. Returns show little or no...

We use data from the Swedish military enlistment to assess the importance of cognitive and noncognitive ability for labor market outcomes. The measure of noncognitive ability is based on a personal interview conducted by a psychologist. We find strong evidence that men who fare poorly in the...

Home owners are about twice as likely as renters to participate in the stock market, both in the USA and Sweden. This paper sets up a life-cycle portfolio choice model which generates this pattern of limited stock market participation. Calibrated to Swedish data, the model generates the stock...