“...We examine the illiquidity premium in stock markets across 45 countries and present two findings. First, the average illiquidity return premium across...”

“...The main goal of this article is to provide an answer to the question: does anything forecast exchange rates, and if so, which variables? It is well known that...”

“...The paper examines the extent of the current global crisis and the contagion effects it induces by conducting an empirical investigation of the extreme...”

“...•Forecasting power should be measured by direction accuracy and magnitude of error.•Exchange rate models outperform the random walk in terms of direction...”

“...We discover a new currency strategy with highly desirable return and diversification properties, which uses the predictive ability of currency volatility risk...”

“...In this paper, we use dynamic conditional correlations (DCCs) and wavelet coherence to examine the hedging and diversification properties of gold futures...”

“...•Real exchange rates adjust toward PPP.•The adjustment is driven by nominal exchange rates.•PPP adjustment can be exploited in exchange rate...”

“...We utilize a fundamentals-based component volatility model to forecast the short-run volatility of exchange rate changes using monetary fundamentals quoted at...”

“...Recent research has found that the Taylor-rule fundamentals have power to forecast changes in U.S. dollar exchange rates out of sample. Our work casts some...”

“...•We analyze data on exchange rate expectations after the collapse of Lehman Brothers.•We establish a potential discrepancy between statistical and economic...”