The spread between the yields on a 10-year US T-note and a 2-year T-note is commonly used as a harbinger of US recessions. We show that such “long-term spreads”...

We review the major models of mutual fund performance: (1) using return data to evaluate equity funds—from single to multi-index models, (2) measuring passive portfolio performance...

The goal of investing for retirement is to secure a target level of income that maintains the individual’s preretirement lifestyle.

We use 70 years of international data from the major bond markets to examine bond return predictability through in-sample and out-of-sample tests.

I model the equilibrium risk sharing between countries with varying financial development The most financially developed country takes greater risks because...

The Coordination of Economies...

Explores issues arising from Great Britain's membership to the European Monetary System (EMS).

We present a novel empirical benchmark for analyzing credit risk using "pseudo firms" that purchase traded assets financed with equity and zero-coupon bonds.

This study looked at the impact of the Coronavirus Disease 2019 (COVID-19) pandemic on the revenues of small businesses operating in industrial sectors...