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  • 18 Jun 2018
  • Working Paper Summaries

A Measure of Risk Appetite for the Macroeconomy

Keywords: by Carolin E. Pflueger, Emil Siriwardane, and Adi Sunderam
  • August 2020
  • Article

Financial Market Risk Perceptions and the Macroeconomy

By: Carolin E. Pflueger, Emil Siriwardane and Adi Sunderam
We propose a novel measure of risk perceptions: the price of volatile stocks (PVS), defined as the book-to-market ratio of low-volatility stocks minus the book-to-market ratio of high-volatility stocks. PVS is high when perceived risk directly measured from surveys and... View Details
Keywords: Risk-centric Business Cycles; Cross-section Of Equities; Real Risk-free Rate; Real Investment; Financial Markets; Risk and Uncertainty; Perception; Investment
Related
  • 11 Dec 2018
  • First Look

New Research and Ideas, December 11, 2018

Pflueger, Carolin E., Emil Siriwardane, and Adi View Details
Keywords: Dina Gerdeman
  • 26 Jun 2018
  • First Look

New Research and Ideas, June 26, 2018

markets. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=54633 A Measure of Risk Appetite for the Macroeconomy By: Pflueger, Carolin E., Emil View Details
Keywords: Dina Gerdeman
  • 12 Jun 2018
  • First Look

New Research and Ideas, June 12, 2018

in how consumers learn to become expert in hedonic product categories. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=54586 A Measure of Risk Appetite for the Macroeconomy By: Pflueger, View Details
Keywords: Dina Gerdeman
  • Web

Research - Behavioral Finance & Financial Stability

Info Segmented Arbitrage By: Adi Sunderam , Emil Siriwardane & Jonathan Wallen NOV 2021 Financial intermediaries play a key role in determining asset prices. The authors use... View Details
  • 06 Dec 2016
  • First Look

December 6, 2016

discuss intuition regarding which product categories likely lead to positive vs. negative values of concealment. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=49531 Precautionary Savings in Stocks and Bonds By:... View Details
Keywords: Sean Silverthorne
  • Web

Finance Awards & Honors - Faculty & Research

2016 Case Centre Award in the Finance, Accounting and Control category for "Valuation of AirThread Connections" (with Joel Heilprin, HBS Brief Case 114-263). Adi Sunderam :... View Details