It is commonly agreed that the term spread and stock returns are useful in predicting recessions. We investigate whether interest rate

It is commonly agreed that the term spread and stock returns are useful in predicting recessions. We extend these empirical findings by examining interest rate and stock market volatility as additional recession indicators. Both risk-return analysis and the theory of investment under uncertainty...

It is commonly agreed that the term spread and stock returns are useful in predicting recessions. We extend these empirical findings by examining interest rate and stock market volatility as additional recession indicators. Both risk-return analysis and the theory of investment under uncertainty...

The interest in the application of market discipline to regulate the financial industry has boomed recently due to the proposed New Capital Accord. This paper reviews the potential role market discipline can play in financial regulation. We start with a discussion of the rationale for financial...

This article estimates the achievement of Nobel Prize winners in Economics according to a simple model that exponentially relates fame to achievement. Based on Google hits, Paul Krugman, Joseph Stiglitz and Milton Friedman turn out to be the top-three economists that achieved the most. It is...