This article explores how improvements in the understanding of socioeconomic characteristics and their interactions across small geographical areas could enable more efficient resource allocations to counteract the spread of a disease. Our empirical analysis focusses on COVID-19 infection rates...

We show that when returns are predictable, persistent predictors, known to bias time-series predictive regressions, also bias the estimation of the cross-sectional moments of asset return distribution, especially the variance-covariance matrix of returns. Our findings, further, suggest that the...

We apply the theory of conditioned diffusions to consider the effect of survivorship bias on a variety of issues in empirical finance. We provide a spatial analysis of this phenomenon as opposed to the more temporal analysis of Brown, Goetzmann and Ross (1995). We find that survivorship bias...

In this paper, we evaluate specification and pricing error for the Consumption (C-) CAPM in the case where the model is optimally scaled by consumption-wealth ratio (CAY). Lettau and Ludvigson (2001b) show that the C-CAPM successfully explains a large portion (about 70%) of the cross-section of...