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Many researchers have used federal funds futures rates as measures of financial markets’ expectations of future monetary policy. However, to the extent that federal funds futures reect...
The article presents an analysis on the monetary policy transparency and private sector in the U.S. It provides a framework for discussing monetary policy transparency and how transparency is related ...
This study examines whether the market reacts more strongly to earnings forecast revisions when financial analysts supplement their earnings forecasts with sales forecasts. I find that earnings foreca...
The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB), in their joint Financial Statement Presentation project, are reconsidering the basic format of fina...
The article presents a discussion of issues raised in the article "The effect of financial statement information proximity and feedback on cash flow forecasts" by Frank D. Hodge, Patrick E. Hopkins, a...
This is the second installment of the Financial Bubble Experiment. Here we provide the digital fingerprint of an electronic document in which we identify 7 bubbles in 7 different global assets; for 4 ...
Suppose one buys two very similar stocks and is curious about how much, after some time T, one of them will contribute to the overall asset, expecting, of course, that it should be around 1/2 of the s...
This is a summary of the first installment of the Financial Bubble Experiment (FBE), where we identified four asset bubbles in November and December 2009 and revealed their names on 3 May 2010. Here w...
This is the third installment of the Financial Bubble Experiment. Here we provide the digital fingerprint of an electronic document in which we identify 27 bubbles in 27 different global assets; for 2...
Several theories of reputation and herd behavior (e.g., Scharfstein and Stein (1990),and Zwiebel (1995)) suggest that herding among agents should vary with career concerns. Our goal is to document whe...

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