Recent research documents the superiority of dividend-yield based trading rules over a buy-and-hold strategy in the U.S. and Finland. We extend the international evidence on the superiority of dividend-yield based trading rules by examining whether the trading rules outperform a buy-and-hold...

Portfolios of mortgage loans played an important role in the Great Recession and continue to compose a material part of bank assets. This chapter investigates how cross-sectional dependence in the underlying properties flows through to the loan returns, and thus, the risk of the portfolio. At...