Results 151 to 160 of about 10,357 (300)

Consumption in Asset Returns

open access: yesThe Journal of Finance, EarlyView.
ABSTRACT Using information in returns, we identify the stochastic process of consumption. We find that aggregate consumption reacts over multiple quarters to innovations spanned by financial markets. This persistent component accounts for over a quarter of consumption variation. These shocks command a large and significant risk premium, driving a large
SVETLANA BRYZGALOVA   +2 more
wiley   +1 more source

Identifying and Mapping Industrial Districts Through a Spatially Constrained Cluster‐Wise Regression Approach

open access: yesJournal of Regional Science, Volume 65, Issue 2, Page 403-428, March 2025.
ABSTRACT The aim of this article is to exploit an innovative spatial econometric approach to map and study the evolving patterns of industrial districts (IDs). The procedure can be classified as a k‐means cluster‐wise regression procedure and is designed to detect homogeneous areas of subcontracting activity.
Jacopo Canello   +3 more
wiley   +1 more source

Solving Stochastic Climate‐Economy Models: A Deep Least‐Squares Monte Carlo Approach

open access: yesMathematical Finance, EarlyView.
ABSTRACT Stochastic versions of recursive integrated climate‐economy assessment models are essential for studying and quantifying policy decisions under uncertainty. However, as the number of state variables and stochastic shocks increases, solving these models via deterministic grid‐based dynamic programming (e.g., value‐function iteration/projection ...
Aleksandar Arandjelović   +4 more
wiley   +1 more source

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