The Global Credit Cycle

Nina Boyarchenko^1,2, Leonardo Elias¹

1: Federal Reserve Bank of New York, United States of America; 2: CEPR

Discussant: Pasquale Della Corte (Imperial College London)

Macro Strikes Back:Term Structure of Risk Premia

Svetlana Bryzgalova¹, Jiantao Huang², Christian Julliard³

1: London Business School; 2: The University of Hong Kong; 3: London School of Economics

Discussant: Can Gao (University of St.Gallen and Swiss Finance Institute)

Price-to-Trend Ratios: Return Predictability and Stock-Price Decompositions

Sebastian Hillenbrand¹, Odhrain McCarthy²

1: Harvard Business School; 2: NYU Stern

Discussant: Oleg Gredil (Tulane University)

Tax Incentives and Venture Capital Risk-Taking

Murillo Campello¹, Guilherme Junqueira²

1: University of Florida & NBER; 2: University of Florida

Discussant: Ettore Croci (Università Cattolica del Sacro Cuore)

FX Neglect in Private Equity Buyouts

Vesa Pursiainen, Wang Tang

University of St. Gallen and Swiss Finance Institute

Discussant: Daniel Urban (Erasmus University Rotterdam)

Text Is All You Need: Asset Pricing Without Returns

Christian Breitung

Technical University of Munich

Discussant: Thomas Dangl (Vienna University of Technology)

Beyond Carr–Madan: A Projection Approach to Risk-Neutral Moment Estimation

Tjeerd de Vries

HEC Paris

Discussant: Olivier Scaillet (University of Geneva and Swiss Finance Institute)

When Complexity Outpaces Factor Models: A Unified Theory for High-Dimensional Asset-Pricing Puzzles

Carter Davis¹, Alejandro Lopez Lira²

1: Ohio State University; 2: University of Florida

Discussant: Patrick Gagliardini (Università della Svizzera italiana)

Partisan Inequality in Property Tax Assessments: The Hidden Fiscal Burden on Political Minorities

Ankit Kalda¹, Vikas Soni², Qianfan Wu¹

1: Indiana University; 2: University of South Florida

Discussant: Francisco Amaral (University of Zurich)

Giving up on the Home? How Downpayment Requirements Shape Consumption and Saving

Yann Cerasi¹, Gazi Kabas², Steven Ongena¹, Kasper Roszbach³

1: University of Zurich and Swiss Finance Institute; 2: Tilburg University; 3: Norges Bank

Discussant: Martin Brown (Study Center Gerzensee)