__________________________________________________________________________________ This paper makes indirect inference about the time-variation in expected stock returns by comparing unconditional sample variances to estimates of expected conditional variances. The evidence reveals more predictability as more information is used, and no evidence that predictability has diminished in recent year...

T paper makes indirect inference about the time variation in expected stock returns by comparing unconditional sample variances to estimates of expected conditional variances. The evidence reveals more predictability as more information is used, and there is no evidence that predictability has diminished in recent years. Semi-strong-form evidence suggests that time variation in expected returns...

Why, after the outbreak of World War II in Eastern Europe, did the inhabitants of some communities erupt in violence against their Jewish neighbors? The authors hypothesize that the greater the degree of preexisting intercommunal polarization between Jews and the titular majority group, the more likely a pogrom. They test this proposition using an original data set of matched census and elector...

Introduction: Although income is among the major social determinants of mental health of middle-aged and older individuals, socially marginalized groups gain less health from their income and other socioeconomic status (SES) resources compared to socially privileged groups. This pattern is called marginalization-related diminished returns (MDRs). Most of the existing knowledge ...

We document the existence of a racial gap in realized housing returns that is an order magnitude larger than disparities arising from costs alone, and driven almost entirely by differences distressed home sales (i.e. foreclosures short sales). Black Hispanic homeowners are both more likely to experience sale live neighborhoods where erase house value. Importantly, absent financial distress, hou...