The present paper refers to current deficit that means a difference between import and export of goods and services. In developing countries a rising import of services is justified on the basis of the economic development targets to be achieved. India has been experiencing budget deficit...

In this article, the authors document robust momentum behavior in a large collection of 65 widely studied characteristic-based equity factors around the globe. They show that, in general, individual factors can be reliably timed based on their own recent performance. A time series “factor...

In our paper, Gupta, Leung, and Roscovan (2021), we study the information content of consumer spending on the cross-section of stock returns. The authors find that consumer spending, measured by consumer credit and debit card transactions, pertain important information about future earnings...

Using a unique dataset of individual transactions-level data for a universe of U.S. consumer facing stocks, we examine the information content of consumer credit and debit card spending in explaining future stock returns. Our analysis shows that consumer spending data positively predict various...