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Essays in Financial Economics
(2014-06-06)
This dissertation presents three essays. The first essay finds that the household risky ratio, the ratio of high risk assets over low risk assets directly owned by households, is a strong negative predictor of the equity ...
Mean Reversion in Housing Markets
(2014-06-06)
Booms in house prices are usually followed by busts. This pattern is called "mean reversion." Mean reversion in housing markets has historically coincided with economic recessions across the world. Chapter 1 establishes ...