… This research was initiated while Balduzzi and Green were affiliated with NYU. We are
grateful for comments from Yakov Amihud, Dave Backus, Kit Baum, Kobi Boudoukh, Stephen …

… Lynch and Balduzzi predict that an investor with a ten-year investment horizon who uses
the unconditional distribution of US stock returns averages 0.37 and 0.16 trades per year, …

… The intuition for this result is described by Balduzzi and Lynch. Briefly, a myopic investor
ignores the future gains from changing the current portfolio composition, and hence is reluctant …

… We set ϕ L equal to ϕ P / ( 1 − ϕ P ) so that the cost of liquidating the entire risky-asset
holding equals the cost of rebalancing the risky-asset holding to zero. In this sense, our ϕ L …

So far, practicality has kept researchers in the field from going beyond three-factor models.
The simple estimation method in this article should make the implementation of three-factor …

… Under the above assumptions the price of a risk-free discount bond of maturity , P P(r, ; ), …
P l() where Pr /P can be interpreted as the short-term rate beta, and P /P as the central-tendency …

… The possibility that the Ptdlns kinase activity associated with p68vr's in vitro might be of
physiological significance is supported by our observation of an increase in P-inositide turnover …

This paper reexamines the proxy hypothesis of Fama (American Economic Review, 1981,
71, 545–565) as the main explanation for the negative correlation between stock returns and …

We test whether adverse changes to banks’ market valuations during the financial and
sovereign debt crises affected firms’ real decisions. Using new data linking over 5000 non-…

… Giuseppe Bertola gratefully acknowledges financial support from the National Science
Foundation; Pierluigi Balduzzi and Silverio Foresi gratefully acknowledge summer research …