procyclical and concave price-dividend ratios, excess and countercyclical stock volatility similar to those observed in the U.S. equity market. In particular, an average of 0.7% (p.a ...
Short-term capital flows appear to be procyclical in developing countries, increasing when economic growth is cyclically faster and declining when growth rates falter. Based on data for 33 developing ...
Four sets of innovations and structural changes in particular have contributed to weakening risk management and rendering the system more prone to instability: the originate-to-distribute business ...
This paper addresses the challenge of missing crop yield data in large-scale agricultural surveys, where crop-cutting, the most accurate method for yield measurement, is often limited due to cost ...
Financials are procyclical; despite recession risks, current valuations suggest VFH is undervalued, with a potential IRR of over 16% per year for the next five years. Despite potential risks like ...
As markets assess the implications of a potential Trump election victory, trade policies remain a central concern, yet Brent Puff believes these policies may be “less extreme” in practice than Trump’s ...
Its procyclical tilt has long made it lean a bit more toward the core square of the Morningstar Style Box than the typical large-value peer. The portfolio’s profile illustrates the process’s ...
This slice courts additional—primarily liquidity—risk, but sizing has been procyclical, growing during bull runs and shrinking more recently as higher interest rates have slashed valuations of ...