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Sunspots and predictable asset returns
International audience -
Indeterminacy and sunspot fluctuations in two-sector RBC models: theory and c...
We analyze sunspot-driven fluctuations in the standard 2-sector RBC model with moderate increasing returns to scale. We provide a detailed theoretical analysis... -
The Inefficient Markets Hypothesis: Why Financial Markets Do Not Work Well in...
Existing literature continues to be unable to offer a convincing explanation for the volatility of the stochastic discount factor in real world data. Our work provides... -
Indeterminacy and Sunspot Fluctuations in Two-Sector RBC models: Theory and C...
We analyze sunspot-driven fluctuations in the standard 2-sector RBC model with moderate increasing returns to scale. We provide a detailed theoretical analysis...
