TAILIEUCHUNG - Stock Return Predictability and Oil Prices

Excellent surveys of recent work in behavioral asset pricing include Hirshleifer (2001) and Barberis and Thaler (2003). In this paper, we do not attempt to be either as balanced or as comprehensive as these authors. Rather, we adopt the role of advocates, and argue in favor of one particular class of heterogeneous-agent models, which we call “disagreement” models. This category is fairly broad, encompassing work that has focused on the following underlying mechanisms: i) gradual information flow; ii) limited attention; and iii) heterogeneous priors. While these three mechanisms each have their own distinct features,. | INSTITUTO DE ECONOMÍA DOCUMENTO de TRABAJO 406 2011 Stock Return Predictability and Oil Prices Jaime Casassus Freddy Higuera. ISSN edición impresa 0716-7334 ISSN edición electronica 0717-7593 Version impresa ISSN 0716-7334 Version electrónica ISSN 0717-7593 PONTIFICIA UNIVERSIDAD CATOLICA DE CHILE INSTITUTO DE ECONOMIA Oficina de Publicaciones Casilla 76 Correo 17 Santiago STOCK RETURN PREDICTABILITY AND OIL PRICES Jaime Casassus Freddy Higuera Documento de Trabajo N 406 Santiago Diciembre 2011 jcasassus@ INDEX ABSTRACT I. INTRODUCTION 1 II. OIL PRICE THE BUSINESS CYCLE AND EXCESS MARKET RETURNS 4 A. Oil price and the macroeconomy 4 B. Oil price and the financial market 6 C. Stock returns and the business cycle 7 D. Measuring oil price shocks 9 E. Oil price the business cycle and stock returns 10 III. SHORT-HORIZON PREDICTABILITY OF STOCK RETURNS 11 IV. OUT-OF-SAMPLE PREDICTABILITY OF STOCK RETURNS 14 V. LONG-HORIZON PREDICTABILITY OF STOCK RETURNS 20 VI. IMPLICATIONS FOR THE CROSS-SECTION OF EXPECTED RETURNS 22 VII. CONCLUSIONS 27 REFERENCES .

• Đầu tư Chứng khoán
• Mineral Nutrition
• Root Absorption
• Soil Fungi
• Plant Interaction
• Plant Soil
• Microorganism Interactions
• Mineral nutrients
• Root growth
• Root development
• Root growth of crop plants
• Role of mineral nutrition
• Plant Cells
• Energy
• Enzymes
• Water Balance
• Plants
• Translocation
• Water and Solutes
• Genomic status
• Chemical and mineral composition
• Human nutrition
• Mineral composition
• Genomic groups grown in India
• Turkish Journal of Agriculture and Forestry
• Tạp chí Nông Lâm nghiệp
• Chromium toxicity in plants
• Chromosomal behavior
• Mineral nutrient status
• Plant growth and nutrition
• Microorganism Interaction
• Abiotic Stress
• Phytoremediation
• Biofortification
• Nanoparticles
• Plant Antioxidative
• Báo cáo lâm nghiệp hay
• cách trình bày báo cáo
• báo cáo lâm nghiệp
• công trình nghiên cứu lâm nghiệp
• tài liệu về lâm nghiệp