This paper compares two classes of models that allow for additional channels of correlation between asset returns: regime switching models with jumps and models with contagious jumps. Both classes of models involve a hidden ...

Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios ...

The Survey of Income and Program Participation (SIPP) is a household-based survey designed as a continuous series of national panels. Each panel features a nationally representative sample interviewed over a multi-year ...