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Austerity, Fiscal Uncertainty, and Economic Growth: Insights from Fiscally Weak EU Countries
Recent empirical evidence suggests that during the last years fiscally weak European countries significantly cut their R&D budgets in an effort to reduce their deficit, according to the spirit of the Fiscal Compact. We ...
Pricing Sin Stocks: Ethical Preference vs. Risk Aversion
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 ...