The effect of nonheterosexuality on individual income is estimated using 1991-1996 General Social Survey data. Other researchers have concluded that homosexuals earn less than similarly qualified workers, in contrast to the popular perception that homosexuals are more affluent than...

This paper examines empirical links between sexual orientation and self-reported lying using data collected in several waves of Georgia Institute of Technology’s World Wide Web Users Survey. The data include questions about sexual orientation, lying in cyberspace, and a broad range of...

This paper develops a securities market model in which participants' beliefs diverge and prices are monotonic in beliefs. Relative to rational expectations (i.e., correct and unanimous beliefs), overconfidence among uninformed traders about the precision of experts' information leads to...

Dynamic correlation models demonstrate that the relationship between interest rates and housing prices is non-constant. Estimates reveal statistically significant time fluctuations in correlations between housing price indexes and Treasury bonds, the S&P 500 Index, and stock prices of...

Survey-based research concerning sexual behaviour almost inevitably confronts the simultaneous problems of misreporting and non-response. These problems lead to disparities among estimates of the number and characteristics of those who engage in same-sex sexual behaviour. This paper proposes a...

Regardless of the distributions of spot and futures returns, the hedge ratio determined by minimizing the portfolio's Aumann and Serrano (2008) index of riskiness is always smaller than the hedge ratio determined by minimizing the portfolio's variance. It is also demonstrated that the Foster and...

We find that passive intensity (PI), measured by the passive-linked share of total stock market trading volume, is strongly related to the overall pattern of stock price movements. A one-standard deviation increase in PI is associated with 8 percent higher price synchronicity. We further...

This paper contributes to the debate on commodity financialization by extending tests of herd behavior to the commodity futures markets. Utilizing a regime-switching model, we test the presence of herd behavior in a number of commodity sectors; including energy, metals, grains, and livestock;...

We estimate the liquidity connectedness in the spot foreign exchange (FX) market based on an empirical network model. We find that the liquidity connectedness reflects the dynamic market uncertainties around the world. Supply- and demand-side factors are important drivers of liquidity...

Dynamic minimum variance hedge ratios (MVHRs) have been commonly estimated using Bivariate GARCH model that overlooks basis effect on the time-varying variance-covariance of spot and futures returns. This paper proposes an alternative specification of the BGARCH model in which the basis effect...