The 2013 Nobel Prize in economics has been awarded to Lars Hansen, Eugene Fama and Robert Shiller "for their empirical analysis of asset prices." These were three important actors in the asset-pricing literature whose contributions are given context herein.
Fama, Hansen, Shiller: Nobelists 2013
Marianne Andries, Bruno Biais, 21 October 2013
Asset pricing in the frequency domain: Theory and empirics
Ian Dew-Becker, Stefano Giglio, 20 October 2013
Economic fluctuations act at frequencies that range from the hourly or even minute-by-minute level – such as shifts in electricity demand due to temperature fluctuations – to shocks that last for decades or longer – such as large-scale technological changes.
Capital market theory after the efficient market hypothesis
Dimitri Vayanos, Paul Woolley, 5 October 2009
Forty years have passed since the principles of classical economics were first applied formally to finance through the contributions of Eugene Fama (1970) and his now-renowned fellow academics.
Understanding exchange rates as asset prices
Jian Wang, 5 September 2008
The foreign exchange market is the largest and most liquid financial market in the world. Its average daily turnover exceeded $3 trillion as of April 2007. Currency trading is very important for individuals, firms, and governments that buy foreign goods and services, invest abroad, and seek profit or protection through speculation.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013
Holmes, McGrattan, Prescott
Beck, De Haas, Ongena