In this note, I conduct an empirical investigation of the affine stochastic discount factor model proposed by Backus, Foresi and Telmer (2001), who showed that such a model might be able to explain the forward premium anomaly. Evidence presented here suggests that the model can reproduce the...

In this note, I conduct an empirical investigation of the affine stochastic discount factor model proposed by Backus, Foresi and Telmer (2001), who showed that such a model might be able to explain the forward premium anomaly. Evidence presented here suggests that the model can reproduce the...

I use data for 331 students who, combined, took 2,230 quizzes in an introductory statistics class. I compare the actual quiz scores with students' post-test predictions of what their scores would be to study how well the students can judge their own performance. I find that (1) self-evaluations...

We analyze how consumer spending is affected by the news coverage of the investigation into coordination between Donald Trump's presidential campaign and Russia. Using daily consumption data, we found that Republicans and Democrats responded differently to the news. Increased media coverage led...

The American states have provided a rich laboratory in which to examine influences on economic growth, physical capital, human capital, and a variety of policy variables. Existing studies typically use broad cross sections of all states or particular regional subsamples. Pairwise matching is an...