• International Capital Markets with Time-Varying Preferences 

      Curatola, Giuliano; Dergunov, Ilya (2017-08-02)
      We propose a 2-country asset-pricing model where agents' preferences change endogenously as a function of the popularity of internationally traded goods. We determine the effect of the time-variation of preferences on ...
    • Preference Evolution and the Dynamics of Capital Markets 

      Curatola, Giuliano (2016-05-13)
      This paper introduces endogenous preference evolution into a Lucas-type economy and explores its consequences for investors' trading strategy and the dynamics of asset prices. In equilibrium, investors herd and hold the ...
    • Pricing Sin Stocks: Ethical Preference vs. Risk Aversion 

      Colonnello, Stefano; Curatola, Giuliano; Gioffré, Alessandro (2018-06-14)
      We develop a model that reproduces the average return and volatility spread between sin and non-sin stocks. Our investors do not necessarily boycott sin companies. Rather, they are open to invest in any company while trading ...