Uncertainty & Ambiguity in Finance
Measuring, pricing, and hedging the fact that investors do not know the true distribution of returns.
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2 min read
The Price of Populism - Financial Market Outcomes of Populist Electoral Success
We examine the effect of populism on financial markets around national elections. We find that the electoral success of populist parties has a direct impact on volatility in major …
Sebastian Stöckl
Political Event Portfolios
We use data from betting markets to analyze the sensitivity of stock returns to potential outcomes of political events such as elections. By classifying stocks into expected …
michael-hanke
Credit Intermediation and the Transmission of Macro-Financial Uncertainty: International Evidence
This paper introduces a novel measure of global macro-financial uncertainty and examines the state-dependent transmission of uncertainty to economic activity.
martin-gachter
PRIX – A Risk Index for Global Private Investors
The purpose of this paper is to create a universal (asset-class-independent) portfolio risk index for a global private investor.
Sebastian Stöckl