Faculté des Sciences, des Technologies et de Médecine
Faculté de Droit, d’Économie et de Finance
Faculté des Sciences Humaines, des Sciences de l’Éducation et des Sciences Sociales
Interdisciplinary Centre for Security, Reliability and Trust
Luxembourg Centre for Systems Biomedicine
Luxembourg Centre for Contemporary and Digital History
Luxembourg Centre for European Law
Luxembourg Centre for Socio-Environmental SystemsTopic : Finance
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Events
Affordable Housing and City Welfare
En savoir plusHousing affordability has become the main policy challenge for most large citiesin the world. Key policy levers are zoning, rent control, housing vouchers, and taxcredits. We build a new dynamic stochastic spatial equilibrium model to evaluate theeffect of these policies on house prices, rents, residential construction, labor supply,output, income and wealth inequality, as well as…
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The Time Variation in Risk Appetite and Uncertainty
En savoir plusAbstract We develop new measures of time-varying risk aversion and economic uncertainty that can be calculated from observable financial information at high frequencies. Our approach has four important elements. First, we formulate a dynamic no-arbitrage asset pricing model that consistently prices all assets under assumptions regarding the joint dynamics among asset-specific cash ow dynamics, macroeconomic fundamentals…
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Events
CANCELLED – Forest Behind the Trees
En savoir plusThis event has been cancelled and should be rescheduled in 2019.
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Events
Household Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis
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Events
Identifying Price Infomativeness
En savoir plusAbstractWe show that outcomes (parameter estimates and R-squareds) of regressions of prices on fundamentals allow usto recover exact measures of the ability of asset prices to aggregate dispersed information. Formally, we show how torecover absolute and relative price informativeness in dynamic environments with rich heterogeneity across investors(regarding signals, private trading needs, or preferences), minimal distributional…
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Events
The Cross-Sectional Distribution of Fund Skill Measures
En savoir plusThe Luxembourg School of Finance, the Luxembourg Statistical Society and the Luxembourg Association of Wealth Managers are happy to invite you to this research seminar.
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Events
Technological Innovation and the Distribution of Labor Income Growth
En savoir plusAbstractWe examine how the distribution of worker earnings growth shiftsfollowing major technological advances by the firm, or its competitors,using administrative data from the US. Specifically, we find that own firminnovation is associated with a modest increase in worker earningsgrowth, while innovation by competing firms is related to lower futureworker earnings. Importantly, these earnings changes areasymmetrically…