We measure the dollar risk exposure of U.S. industries by regressing stock portfolio returns on each industry against the returns on a broadly defined dollar index. The exposure estimates vary widely across different industries in both magnitudes and directions. We trace this large...

We estimate the market prices of economic risks from the stock market, while overcoming the challenges faced by existing studies. First, we use two dynamic factors, one real and the other nominal, to summarize the systematic information and to suppress the noise in a large array of economic...

Can we use neoclassical growth model to single out the important transmission channels through which external factors or "primitives" affected the Indian economy and caused the remarkable growth of the period 1982-2002? In this paper, we answer the question by applying the new technique of...