Closed-form formulas for Macaulay duration, as given by Babcock and Chua, provide the user with a less cumbersome and more efficient procedure for calculating duration. Recent developments, however, have suggested alternative measures of bond portfolio immunization designed to overcome the...

Research has shown that cognitive and non-cognitive skills, education and earnings decrease with birth order. Less is known about birth order effects on health. This paper provides a comprehensive analysis of the relationship between birth order, health at birth and in childhood, and parental...

Research has shown that cognitive and non-cognitive skills, education and earnings decrease with birth order. Less is known about birth order effects on health. This paper provides a comprehensive analysis of the relationship between birth order, health at birth and in childhood, and parental...

In 2012, a labour market reform in Italy known as the Fornero Law substantially reduced firing restrictions for open-ended contracts in the case of firms with more than 15 employees. The results from a difference in regression discontinuities design that compares firms below versus those above...

A wide range of research has suggested that informed trading in options markets may effectively signal subsequent changes in equity prices. In this paper, we analyze the performance of long/short strategies based on a number of signals from options markets.In addition, we create an easily...

While the impact of backfill bias, survivor bias other database construction issues (e.g., onshore versus offshore) on hedge fund performance have received considerable research attention, the impact on hedge fund performance of differences in the underlying quality or number of reporting...

A fundamental question in regard to the Madoff scandal is whether there was any reasonable means by which the typical investor and/or their consultants could have determined that the various investment vehicles by which investors accessed Madoff were in fact not offering what they claimed. In...

Under the Commodity Exchange Act, all individuals and firms (with certain exceptions) that intend to do business as futures professionals must register with the Commodity Futures Trading Commission (CFTC). The commission has authorized the National Futures Association (NFA), a self-regulatory...