You're probably familiar, at least in passing, with the 'convexity' of long-term bonds - i.e. that yields dropping 1% produce a bigger price move than yields rising 1%. A significant amount of brainpower has gone into understanding all the ramifications of this convexity in the fixed income...

Purpose Artificial intelligence (AI) offers many benefits to improve predictive marketing practice. It raises ethical concerns regarding customer prioritization, market share concentration and consumer manipulation. This paper explores these ethical concerns from a contemporary perspective,...

Macroeconomic expectations of various economic agents are characterized by substantial cross-sectional heterogeneity. In this paper, we focus on expectations heterogeneity among professional forecasters. We first present stylized facts and discuss theoretical explanations for heterogeneous...

Macroeconomic expectations of various economic agents are characterized by substantial crosssectional heterogeneity. This chapter focuses on heterogeneity in the expectations among professional forecasters, first presenting stylized facts and discussing theoretical explanations for heterogeneous...