Anna Pavlova

London Business School

Sussex Place

Regent's Park

London, London NW1 4SA

United Kingdom

http://faculty.london.edu/apavlova

Centre for Economic Policy Research (CEPR)

London

United Kingdom

  • London Business School

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SCHOLARLY PAPERS

23

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351

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795

Scholarly Papers (23)

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1.

ESG Confusion and Stock Returns: Tackling the Problem of Noise

Number of pages: 60 Posted: 12 Oct 2021
Florian Berg, Julian F Kölbel, Anna Pavlova and Roberto Rigobon
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Zurich, Department of Banking and Finance, London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 3,889 (3,798)

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ESG, errors-in-variables, attenuation bias, ratings, stock returns, noise

2.

Offsetting the Incentives: Risk Shifting and Benefits of Benchmarking in Money Management

Downloads 2,768 ( 6,349)
Citation 16

Offsetting the Incentives: Risk Shifting and Benefits of Benchmarking in Money Management

Number of pages: 42 Posted: 05 May 2003
Suleyman Basak, Anna Pavlova and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance
Downloads 2,340 (8,561)
Citation 21

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Fund Flows, Implicit Incentives, Risk Taking, Benchmarking, Risk Management, Portfolio Choice

Offsetting the Incentives: Risk Shifting and Benefits of Benchmarking in Money Management

NYU Working Paper No. FIN-03-049
Number of pages: 43 Posted: 12 Nov 2008
Suleyman Basak, Anna Pavlova and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance
Downloads 150 (271,162)

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Fund Flows, Implicit Incentives, Risk Taking, Benchmarking, Risk Management, Portfolio Choice

Offsetting the Incentives: Risk Shifting, and Benefits of Benchmarking in Money Management

NYU Working Paper No. SC-AM-02-12
Number of pages: 33 Posted: 13 Nov 2008
Suleyman Basak, Anna Pavlova and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance
Downloads 145 (278,737)

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Offsetting the Incentives: Risk Shifting and Benefits of Benchmarking in Money Management

NYU Working Paper No. SC-AM-03-15
Number of pages: 43 Posted: 04 Nov 2008
Suleyman Basak, Anna Pavlova and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance
Downloads 110 (342,704)

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Fund Flows, Implicit Incentives, Risk Taking, Benchmarking, Risk Management, Portfolio Choice

Offsetting the Incentives: Risk Shifting and Benefits of Benchmarking in Money Management

CEPR Discussion Paper No. 5006
Number of pages: 44 Posted: 16 Aug 2005
Suleyman Basak, Anna Pavlova and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance
Downloads 23 (700,246)
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Fund flows, implicit incentives, risk taking, benchmarking, risk management, portfolio choice

3.

Monopoly Power and the Firm's Valuation: A Dynamic Analysis of Short Versus Long-Term Policies

Downloads 2,136 ( 10,168)
Citation 4

Monopoly Power and the Firm's Valuation: A Dynamic Analysis of Short Versus Long-Term Policies

Number of pages: 32 Posted: 16 Sep 2000
Anna Pavlova and Suleyman Basak
London Business School and London Business School
Downloads 2,111 (10,160)
Citation 4

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Monopoly; Asset Pricing Theory; General Equilibrium; Short-Sighted; Time-Consistency; Coase Conjecture

Monopoly Power and the Firm's Valuation: A Dynamic Analysis of Short Versus Long-Term Policies

CEPR Discussion Paper No. 3425
Number of pages: 35 Posted: 13 Aug 2002
Anna Pavlova and Suleyman Basak
London Business School and London Business School
Downloads 25 (684,144)
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Monopoly, asset pricing theory, general equilibrium, short-sighted, time-consistency

Monopoly Power and the Firm's Valuation: A Dynamic Analysis of Short Versus Long-Term Policies

Posted: 19 Mar 2004
Anna Pavlova and Suleyman Basak
London Business School and London Business School

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Monopoly, Asset pricing theory, General equilibrium, Short-sighted, Time-consistency, Coase conjecture

4.

Retail Trading in Options and the Rise of the Big Three Wholesalers

Number of pages: 92 Posted: 20 Apr 2022 Last Revised: 13 Jun 2022
Svetlana Bryzgalova, Anna Pavlova and Taisiya Sikorskaya
London Business School - Department of Finance, London Business School and London Business School
Downloads 2,110 (10,390)

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Retail, payment for order flow, dividend play, suboptimal option exercise, market concentration, arbitrage, FinTech, WallStreetBets

5.

Asset Prices and Exchange Rates

Downloads 1,704 ( 14,637)
Citation 107

Asset Prices and Exchange Rates

MIT Sloan Working Paper No. 4322-03, AFA 2005 Philadelphia Meetings
Number of pages: 45 Posted: 27 Dec 2004
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,621 (15,508)

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International finance, asset pricing, exchange rate, terms of trade, international transmission

Asset Prices and Exchange Rates

NBER Working Paper No. w9834
Number of pages: 51 Posted: 14 Jul 2003 Last Revised: 16 May 2022
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 83 (411,126)
Citation 40

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Asset Prices and Exchange Rates

Review of Financial Studies, Vol. 20, pp. 1139-1181, 2007
Posted: 07 Aug 2006
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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International finance, asset pricing, exchange rate, terms of trade, international transmission

Asset Prices and Exchange Rates

The Review of Financial Studies, Vol. 20, Issue 4, pp. 1139-1180, 2007
Posted: 25 Jun 2008
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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G12, G15, F31, F36

6.

A Model of Financialization of Commodities

Downloads 1,645 ( 15,452)
Citation 92

A Model of Financialization of Commodities

Journal of Finance, Forthcoming
Number of pages: 61 Posted: 18 Jan 2013 Last Revised: 14 Sep 2015
Suleyman Basak and Anna Pavlova
London Business School and London Business School
Downloads 1,645 (15,178)
Citation 36

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asset pricing, indexing, commodities, futures, spot prices, institutions, money management, asset class

A Model of Financialization of Commodities

CEPR Discussion Paper No. DP10651
Number of pages: 61 Posted: 16 Jun 2015
Suleyman Basak and Anna Pavlova
London Business School and London Business School
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Citation 28
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asset class, Asset pricing, commodities, futures, indexing, institutions, money management, spot prices

7.

Asset Prices and Institutional Investors

Downloads 1,466 ( 18,357)
Citation 93

Asset Prices and Institutional Investors

AFA 2011 Denver Meetings Paper
Number of pages: 62 Posted: 17 Mar 2010 Last Revised: 27 Aug 2012
Suleyman Basak and Anna Pavlova
London Business School and London Business School
Downloads 1,460 (18,120)
Citation 17

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Asset pricing, indexing, institutions, money management, general equilibrium

Asset Prices and Institutional Investors

CEPR Discussion Paper No. DP9120
Number of pages: 65 Posted: 28 Sep 2012
Suleyman Basak and Anna Pavlova
London Business School and London Business School
Downloads 6 (864,585)
Citation 39
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asset class, Asset pricing, general equilibrium, indexing, institutions, money management

8.

Optimal Asset Allocation and Risk Shifting in Money Management

Downloads 1,329 ( 21,280)
Citation 100

Optimal Asset Allocation and Risk Shifting in Money Management

Number of pages: 40 Posted: 30 Jan 2006
Suleyman Basak, Anna Pavlova and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance
Downloads 1,308 (21,431)
Citation 5

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Fund Flows, Implicit Incentives, Risk Taking, Relative Performance, Risk Management, Portfolio Choice

Optimal Asset Allocation and Risk Shifting in Money Management

CEPR Discussion Paper No. 5524
Number of pages: 44 Posted: 14 Jun 2006
Suleyman Basak, Anna Pavlova and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance
Downloads 21 (717,145)
Citation 16
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Fund flows, implicit incentives, risk taking, relative performance, risk management, portfolio choice

9.

A Dynamic Model with Import Quota Constraints

Downloads 755 ( 47,429)

A Dynamic Model with Import Quota Constraints

Number of pages: 41 Posted: 05 Mar 2002 Last Revised: 27 Dec 2021
Anna Pavlova and Suleyman Basak
London Business School and London Business School
Downloads 737 (48,321)

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Quota, International Economics and Finance, Asset Pricing, Integral Constraints

A Dynamic Model with Import Quota Constraints

Number of pages: 43 Posted: 06 Aug 2002
Anna Pavlova and Suleyman Basak
London Business School and London Business School
Downloads 18 (743,095)
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Quota, international economics and finance, asset pricing, integral constraints

10.

Multiplicity in General Financial Equilibrium with Portfolio Constraints

Downloads 713 ( 51,187)
Citation 6

Multiplicity in General Financial Equilibrium with Portfolio Constraints

PIER Working Paper No. 06-012
Number of pages: 35 Posted: 27 Mar 2006
Suleyman Basak, Anna Pavlova, David Cass (deceased) and Juan Manuel Licari
London Business School, London Business School, University of Pennsylvania, School of Arts & Sciences, Department of Economics (deceased) and University of Pennsylvania - Department of Economics
Downloads 699 (51,882)
Citation 4

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Multiple equilibria, asset pricing, portfolio constraints, indeterminacy, financial equilibrium

Multiplicity in General Financial Equilibrium with Portfolio Constraints

CEPR Discussion Paper No. 5804
Number of pages: 38 Posted: 11 Oct 2006
Suleyman Basak, Anna Pavlova, David Cass (deceased) and Juan Manuel Licari
London Business School, London Business School, University of Pennsylvania, School of Arts & Sciences, Department of Economics (deceased) and University of Pennsylvania - Department of Economics
Downloads 14 (780,437)
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Multiple equilibria, asset pricing, portfolio constraints, indeterminacy, financial equilibrium

Multiplicity in General Financial Equilibrium with Portfolio Constraints

Journal of Economic Theory, Forthcoming
Posted: 21 Aug 2006
Suleyman Basak, Anna Pavlova, David Cass (deceased) and Juan Manuel Licari
London Business School, London Business School, University of Pennsylvania, School of Arts & Sciences, Department of Economics (deceased) and University of Pennsylvania - Department of Economics

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Multiple Equilibria, Asset Pricing, Portfolio Constraints, Indeterminacy, Financial Equilibrium

11.

Offsetting the Implicit Incentives: Benefits of Benchmarking in Money Management

Number of pages: 24 Posted: 18 Aug 2006 Last Revised: 17 Dec 2007
Suleyman Basak, Anna Pavlova and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance
Downloads 641 (58,757)
Citation 11

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Benchmarking, Fund Flows, Implicit Incentives, Risk Taking, Risk Management, Portfolio Choice

12.

Adjustment Costs, Learning-by-Doing, and Technology Adoption Under Uncertainty

Number of pages: 35 Posted: 31 May 2002
Anna Pavlova
London Business School
Downloads 558 (70,077)
Citation 6

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Technological Change, Vintage Capital, Optimal Scrapping, Learning-by-doing

13.

Benchmarking Intensity

Downloads 550 ( 71,374)
Citation 2

Benchmarking Intensity

Number of pages: 95 Posted: 02 Nov 2020 Last Revised: 17 Mar 2022
Anna Pavlova and Taisiya Sikorskaya
London Business School and London Business School
Downloads 549 (70,722)
Citation 2

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Benchmark, preferred habitat, index effect, demand elasticity, mutual funds, Russell cutoff

Benchmarking Intensity

CEPR Discussion Paper No. DP16909
Number of pages: 96 Posted: 12 Feb 2022
Anna Pavlova and Taisiya Sikorskaya
London Business School and London Business School
Downloads 1 (932,912)
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Benchmark, demand elasticity, index effect, Mutual funds, Preferred habitat, Russell cutoff

14.

The Role of Portfolio Constraints in the International Propagation of Shocks

Downloads 468 ( 86,906)
Citation 77

The Role of Portfolio Constraints in the International Propagation of Shocks

EFA 2006 Zurich Meetings Paper, MIT Sloan Working Paper, AFA 2008 New Orleans Meetings Paper
Number of pages: 54 Posted: 24 Feb 2005
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 466 (86,582)
Citation 11

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International finance, asset pricing, terms of trade, portfolio constraints, contagion

The Role of Portfolio Constraints in the International Propagation of Shocks

CEPR Discussion Paper No. DP6647
Number of pages: 57 Posted: 05 Jun 2008
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2 (916,279)
Citation 8
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Asset pricing, contagion, International finance, portfolio constraints, terms of trade, wealth transfer

The Role of Portfolio Constraints in the International Propagation of Shocks

Review of Economic Studies, Forthcoming
Posted: 20 Mar 2008
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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International finance, asset pricing, exchange rate, terms of trade, wealth transfer, portfolio constraints, contagion, international transmission

15.

On Trees and Logs

Downloads 440 ( 93,401)

On Trees and Logs

Number of pages: 44 Posted: 31 May 2002
Anna Pavlova and David Cass (deceased)
London Business School and University of Pennsylvania, School of Arts & Sciences, Department of Economics (deceased)
Downloads 440 (92,622)
Citation 15

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Lucas Tree Model, Equilibrium Theory, Peculiar

On Trees and Logs

Posted: 08 Oct 2003
Anna Pavlova and David Cass (deceased)
London Business School and University of Pennsylvania, School of Arts & Sciences, Department of Economics (deceased)

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Lucas tree model, Equilibrium theory, Peculiar financial equilibrium, Nonuniqueness of equilibria, Portfolio constraints

16.

Equilibrium Portfolios and External Adjustment Under Incomplete Markets

AFA 2009 San Francisco Meetings Paper
Number of pages: 41 Posted: 20 Mar 2008 Last Revised: 28 Mar 2012
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 354 (119,723)
Citation 21

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Current account, portfolio rebalancing, capital gains, international finance, asset pricing, global imbalances

17.

The Benchmark Inclusion Subsidy

Downloads 214 (198,952)
Citation 2

The Benchmark Inclusion Subsidy

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2018-83
Number of pages: 47 Posted: 12 Dec 2018
Anil K. Kashyap, Natalia Kovrijnykh, Jian Li and Anna Pavlova
University of Chicago, Booth School of Business, Arizona State University (ASU) - Economics Department, Columbia University and London Business School
Downloads 122 (318,237)
Citation 3

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The Benchmark Inclusion Subsidy

Number of pages: 59 Posted: 19 Dec 2018 Last Revised: 23 Dec 2020
Anil K. Kashyap, Natalia Kovrijnykh, Jian Li and Anna Pavlova
University of Chicago, Booth School of Business, Arizona State University (ASU) - Economics Department, Columbia University and London Business School
Downloads 73 (442,906)

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Project Valuation, Investment, Mergers, Asset Management, Benchmark

The Benchmark Inclusion Subsidy

NBER Working Paper No. w25337
Number of pages: 60 Posted: 11 Dec 2018 Last Revised: 26 Mar 2022
Anil K. Kashyap, Natalia Kovrijnykh, Jian Li and Anna Pavlova
University of Chicago, Booth School of Business, Arizona State University (ASU) - Economics Department, Columbia University and London Business School
Downloads 19 (734,297)

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The Benchmark Inclusion Subsidy

CEPR Discussion Paper No. DP13356
Number of pages: 48 Posted: 11 Dec 2018
Anil K. Kashyap, Natalia Kovrijnykh, Jian Li and Anna Pavlova
University of Chicago, Booth School of Business, Arizona State University (ASU) - Economics Department, Columbia University and London Business School
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asset management, Benchmark, Index, investment, mergers, Project Valuation

18.

Is There Too Much Benchmarking in Asset Management?

Downloads 205 (208,010)
Citation 1

Is There Too Much Benchmarking in Asset Management?

Number of pages: 62 Posted: 28 Apr 2020 Last Revised: 20 Jul 2021
Anil K. Kashyap, Natalia Kovrijnykh, Jian Li and Anna Pavlova
University of Chicago, Booth School of Business, Arizona State University (ASU) - Economics Department, Columbia University and London Business School
Downloads 198 (213,556)

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Incentive Contracts, Moral Hazard, Relative Performance, Externality, Asset Management, Benchmark, Index, Welfare, ESG Investing

Is There Too Much Benchmarking in Asset Management?

NBER Working Paper No. w28020
Number of pages: 56 Posted: 02 Nov 2020 Last Revised: 25 Apr 2022
Anil K. Kashyap, Natalia Kovrijnykh, Jian Li and Anna Pavlova
University of Chicago, Booth School of Business, Arizona State University (ASU) - Economics Department, Columbia University and London Business School
Downloads 7 (864,585)

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Is There Too Much Benchmarking in Asset Management?

CEPR Discussion Paper No. DP16296
Number of pages: 66 Posted: 14 Jul 2021
Anil K. Kashyap, Natalia Kovrijnykh, Jian Li and Anna Pavlova
University of Chicago, Booth School of Business, Arizona State University (ASU) - Economics Department, Columbia University and London Business School
Downloads 0
Citation 1
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19.

An Asset-Pricing View of External Adjustment

Downloads 200 (211,790)
Citation 18

An Asset-Pricing View of External Adjustment

MIT Sloan Research Paper, EFA 2008 Athens Meetings Paper
Number of pages: 47 Posted: 05 Mar 2008
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 181 (231,300)

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current account, portfolio rebalancing, capital gains, international finance, asset pricing, global imbalances

An Asset-Pricing View of External Adjustment

NBER Working Paper No. w13468
Number of pages: 48 Posted: 05 Oct 2007 Last Revised: 21 Apr 2022
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 19 (734,297)
Citation 2

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20.

International Macro-Finance

Downloads 196 (215,700)
Citation 3

International Macro-Finance

Number of pages: 20 Posted: 15 Jan 2011
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 125 (312,545)

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International Macroeconomics, Asset Pricing, International Macro-Finance, International Portfolios, Equity Prices

International Macro-Finance

NBER Working Paper No. w16630
Number of pages: 21 Posted: 27 Dec 2010 Last Revised: 11 Jun 2022
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 64 (475,219)

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International Macro-Finance

CEPR Discussion Paper No. DP8218
Number of pages: 22 Posted: 31 Jan 2011
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 7 (853,461)
Citation 1
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asset pricing, equity prices, international macroeconomics, international portfolios

21.

International Capital Markets and Wealth Transfers

Downloads 88 (393,138)

International Capital Markets and Wealth Transfers

Number of pages: 60 Posted: 27 Apr 2022 Last Revised: 15 Aug 2022
Magnus Dahlquist, Christian Heyerdahl-Larsen, Anna Pavlova and Julien Pénasse
Stockholm School of Economics, Indiana University - Kelley School of Business - Department of Finance, London Business School and University of Luxembourg
Downloads 88 (396,760)

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Currency risk premium, habit formation, net foreign assets, wealth transfers

International Capital Markets and Wealth Transfers

CEPR Discussion Paper No. DP17334
Number of pages: 61 Posted: 23 Jun 2022
Magnus Dahlquist, Christian Heyerdahl-Larsen, Anna Pavlova and Julien Pénasse
Stockholm School of Economics, Indiana University - Kelley School of Business - Department of Finance, London Business School and Universite du Luxembourg
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currency risk premium, Habit formation, Net Foreign Assets, wealth transfers

22.

Wealth Transfers, Contagion, and Portfolio Constraints

Downloads 61 (480,020)
Citation 2

Wealth Transfers, Contagion, and Portfolio Constraints

NBER Working Paper No. w11440
Number of pages: 50 Posted: 12 Jul 2005 Last Revised: 06 Apr 2022
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 40 (585,663)

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Wealth Transfers, Contagion and Portfolio Constraints

CEPR Discussion Paper No. 5117
Number of pages: 52 Posted: 10 Aug 2005
Anna Pavlova and Roberto Rigobon
London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 21 (717,145)
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International finance, asset pricing, terms of trade, portfolio constraints, contagion

23.

Optimal Asset Allocation and Risk Shifting in Money Management

Review of Financial Studies, Vol. 20, No. 5, pp. 1583-1621, 2007
Posted: 07 Aug 2006 Last Revised: 21 Mar 2008
Anna Pavlova, Suleyman Basak and Alex Shapiro
London Business School, London Business School and New York University (NYU) - Department of Finance

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Fund Flows, Implicit Incentives, Risk Taking, Relative Performance, Risk Management, Portfolio Choice

Other Papers (1)

Total Downloads: 59
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1.

Multiplicity in General Financial Equilibrium with Portfolio Constraints, Second Version

PIER Working Paper No. 06-020
Number of pages: 36 Posted: 19 Jul 2006
Suleyman Basak, Anna Pavlova, David Cass (deceased) and Juan Manuel Licari
London Business School, London Business School, University of Pennsylvania, School of Arts & Sciences, Department of Economics (deceased) and University of Pennsylvania - Department of Economics
Downloads 59

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Multiple equilibria, asset pricing, portfolio constraints, indeterminacy, financial equilibrium.