Recently, a body of academic literature has focused on the area of stable distributions and their application potential for improving our understanding of the risk of hedge funds. At the same time, research has sprung up that applies standard Bayesian methods to hedge fund evaluation. Little or...

Using four years of second-by-second executed trade data, we study the intraday effects of a representative group of scheduled economic releases on three exchange rates: EUR/$, JPY/$ and GBP/$. Using wavelets to analyze volatility behavior, we empirically show that intraday volatility clusters...

During the financial crisis of 2008, the market value of retirement assets held in stock fell by 32 percent. The objective of this study is to show how a severe financial crisis affects the withdrawal patterns of retirees. Specifically, we examine how withdrawal patterns change when we...