To understand the role of family background in intergenerational mobility, a large literature has focused on the conditional mean of children's economic outcomes given parent's economic status, while ...

The existing empirical literature fails to agree on the nature of the intertemporal relation between risk and return. This paper attempts to resolve the issue by estimating a conditional two-factor ...

Asset managers have been piling into exotic conditional variance swaps on fx as a way to hedge equity portfolios from a possible double-dip recession. The swaps allow investors to take a view on the ...