An Asset-Pricing Model for the Contagion Age: Polson and ScottNicholas G. Polson and James G. Scott
Dec. 8 (Bloomberg) -- The financial crisis and the meltdown in Europe have exposed the deficiencies of traditional asset-pricing models, particularly their inability to account for the effect of contagion from one market to another. The good news is that the length and the persistence of the turmoil have given researchers a trove of data to develop new predictive tools.
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