This paper develops a novel method to correct small-sample bias in autoregressive roots of AR(p) models. We evaluate median-bias properties and variability of the bias-adjusted parameters by examining the accuracy of bias-adjusted impulse responses. Our simulation results show that bias...

We examine the value of information available to investors through BrokerCheck: the most comprehensive source of information about brokers' professional background and regulatory history that helps investors make informed choices about which brokers to use. We do so by assessing the...

The idea that expectations about future economic fundamentals can drive business cycles dates back to the early 20th century. However, the standard real business cycle (RBC) model fails to generate positive comovement in output, consumption, labor-hours and investment in response to news shocks....