Jerry Tsai, Jessica Wachter, 11 June 2015

The high equity premium and high volatility in equity markets have long been a puzzle. This column discusses how rare, economy-wide disasters can account for this conundrum, as well as for patterns in prices, consumption, and interest rates during the Great Recession.

Hans Degryse, Frank de Jong, Vincent van Kervel, 24 November 2011

Financial innovation has brought about several new ways to trade equities: electronically, over-the-counter, through broker-dealer networks, and so on. But not all of the transactions are transparent, with many barely visible to outsiders – a practice known as ‘dark’ trades. This column finds that, in general, more ways to trade is a benefit, except when the trades are dark.

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