to an end. This paper offers evidence that the decrease in output volatility still remains in force despite the GR and …

velocity volatility at both business cycle and long run frequencies. With filtered velocity turning negative, starting during …

commensurate with their risk aversion; more risk-averse individuals pick lower-volatility stocks. The investors' portfolio …The preferred risk habitat hypothesis, introduced here, is that individual investors select stocks with volatilities … consistent with the predictions of the hypothesis: the portfolios contain highly similar stocks in terms of volatility, when …

both create and share the risk associated with exchange rate volatility. In such circumstances, monetary policy can be used … of noise traders alters the composition of the market and generates excess exchange rate volatility, since noise traders … to lower exchange rate volatility without altering macroeconomic fundamentals. …

EMU. The persistence of small and variable yield differentials for sovereign debt under EMU indicates that euro area bonds … rather small differentials in fundamental risk. Liquidity differences play at most a minor role, and this role appears to … arise partly from their interaction with fundamental risk. The challenges still lying ahead are numerous. They include the …

estimating a business cycle model with investment-specific technological change, preference shocks, and stochastic volatility. …