Now showing items 1-2 of 2

    • The Good News and the Bad News about Long-run Stock Market Returns 

      Robertson, Donald; Wright, Stephen M. (2004-06-16)
      If stock prices followed a random walk, uncertainty about future stock prices would be so great that the observed bias towards equities in long-term investment portfolios would be surprising. The good news is that if, ...
    • IV Estimation of Panels with Factor Residuals 

      Robertson, Donald; Sara dis, Vasilis (Faculty of Economics, University of Cambridge, 2013-06-04)
      This paper proposes a new instrumental variables approach for consistent and asymptotically effi cient estimation of panel data models with weakly exogenous or endogenous regressors and residuals generated by a multifactor ...