Lubos Pastor

University of Chicago - Booth School of Business

Professor of Finance

5807 S. Woodlawn Avenue

Chicago, IL 60637

United States

http://www.ChicagoGSB.edu/fac/lubos.pastor/

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

41

DOWNLOADS
Rank 245

SSRN RANKINGS

Top 245

in Total Papers Downloads

77,319

SSRN CITATIONS
Rank 27

SSRN RANKINGS

Top 27

in Total Papers Citations

3,261

CROSSREF CITATIONS

7,908

Scholarly Papers (41)

1.
Downloads 12,757 ( 393)
Citation 57

Are Stocks Really Less Volatile in the Long Run?

EFA 2009 Bergen Meetings Paper, AFA 2010 Atlanta Meetings Paper
Number of pages: 56 Posted: 26 May 2008 Last Revised: 13 Dec 2011
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 12,590 (395)
Citation 1

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stock, volatility, target-date funds, Bayesian, predictive system, predictive variance

Are Stocks Really Less Volatile in the Long Run?

NBER Working Paper No. w14757
Number of pages: 54 Posted: 26 Feb 2009 Last Revised: 29 Apr 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 158 (234,451)

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Are Stocks Really Less Volatile in the Long Run?

CEPR Discussion Paper No. DP7199
Number of pages: 48 Posted: 11 Mar 2009
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 9 (753,164)
Citation 9
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long-run, risk, stock, variance

2.
Downloads 4,675 ( 2,365)
Citation 1,275

Liquidity Risk and Expected Stock Returns

Number of pages: 38 Posted: 17 Aug 2001
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 4,419 (2,564)
Citation 21

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Asset pricing, liquidity risk, expected returns

Liquidity Risk and Expected Stock Returns

NBER Working Paper No. w8462
Number of pages: 38 Posted: 10 Sep 2001 Last Revised: 16 Aug 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 226 (169,617)

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Liquidity Risk and Expected Stock Returns

Number of pages: 48 Posted: 20 Sep 2002
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 30 (590,450)
Citation 193
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Asset pricing, liquidity risk, expected returns

3.
Downloads 4,361 ( 2,665)
Citation 95

Scale and Skill in Active Management

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 51 Posted: 01 Sep 2013 Last Revised: 11 Aug 2020
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 3,776 (3,338)
Citation 9

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returns to scale, mutual funds, active management, skill

Scale and Skill in Active Management

Becker Friedman Institute for Research in Economics Working Paper No. 2014-03
Number of pages: 51 Posted: 05 Feb 2014
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 386 (96,142)
Citation 1

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Scale and Skill in Active Management

Chicago Booth Research Paper No. 14-20
Number of pages: 52 Posted: 15 Jul 2014
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 146 (250,320)

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Scale and Skill in Active Management

NBER Working Paper No. w19891
Number of pages: 51 Posted: 11 Feb 2014 Last Revised: 09 May 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 49 (491,075)

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Scale and Skill in Active Management

CEPR Discussion Paper No. DP9854
Number of pages: 53 Posted: 02 Jun 2014
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 4 (795,829)
Citation 23
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mutual funds, returns to scale, skill

4.
Downloads 4,297 ( 2,731)
Citation 89

Learning in Financial Markets

Learning in Financial Markets, Forthcoming, Chicago Booth School of Business Research Paper No. 08-28
Number of pages: 30 Posted: 08 Jan 2009
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 4,150 (2,847)

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Learning in Financial Markets

NBER Working Paper No. w14646
Number of pages: 30 Posted: 19 Jan 2009 Last Revised: 10 Jul 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 140 (258,919)
Citation 8

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Learning in Financial Markets

CEPR Discussion Paper No. DP7127
Number of pages: 31 Posted: 18 Feb 2009
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 7 (770,265)
Citation 16
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Bayesian, bubble, predictability, uncertainty, volatility

Learning in Financial Markets

Posted: 04 Jun 2010
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business

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5.
Downloads 3,626 ( 3,646)
Citation 38

Sustainable Investing in Equilibrium

Chicago Booth Research Paper No. 20-12, Fama-Miller Working Paper, Journal of Financial Economics (JFE), Forthcoming, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 54 Posted: 19 Dec 2019 Last Revised: 12 Aug 2020
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 3,410 (3,989)
Citation 22

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sustainable investing, socially responsible investing, ESG, social impact

Sustainable Investing in Equilibrium

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-24
Number of pages: 53 Posted: 24 Mar 2020
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 203 (187,849)
Citation 11

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sustainable investing, socially responsible investing, ESG, social impact

Sustainable Investing in Equilibrium

NBER Working Paper No. w26549
Number of pages: 55 Posted: 16 Dec 2019 Last Revised: 18 Jul 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 13 (718,981)

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Sustainable Investing in Equilibrium

CEPR Discussion Paper No. DP14171
Number of pages: 57 Posted: 17 Dec 2019 Last Revised: 16 Jun 2020
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 0
Citation 11
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ESG, social impact, Socially responsible investing, sustainable investing

6.
Downloads 3,531 ( 3,828)
Citation 106

Technological Revolutions and Stock Prices

CRSP Working Paper No. 606, AFA 2007 Chicago Meetings Paper, EFA 2006 Zurich Meetings
Number of pages: 49 Posted: 24 May 2006 Last Revised: 04 Oct 2014
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 3,237 (4,383)
Citation 17

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bubble, internet, railroads, technology, innovation, learning, uncertainty

Technological Revolutions and Stock Prices

NBER Working Paper No. w11876
Number of pages: 50 Posted: 06 Oct 2006 Last Revised: 14 Jun 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 281 (136,344)
Citation 16

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Technological Revolutions and Stock Prices

CEPR Discussion Paper No. 5428
Number of pages: 48 Posted: 11 Apr 2006
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 13 (718,981)
Citation 20
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Bubble, railroads, technology, innovation

7.
Downloads 3,454 ( 3,981)
Citation 60

On the Size of the Active Management Industry

CRSP Working Paper
Number of pages: 44 Posted: 06 Jan 2010 Last Revised: 24 Jul 2012
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 3,327 (4,156)
Citation 2

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active management, returns to scale, learning, mutual funds

On the Size of the Active Management Industry

MFI Working Paper No. 2010-001
Number of pages: 47 Posted: 13 Jan 2010 Last Revised: 13 Dec 2011
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 86 (364,734)

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On the Size of the Active Management Industry

NBER Working Paper No. w15646
Number of pages: 45 Posted: 18 Jan 2010 Last Revised: 07 Oct 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 39 (539,070)
Citation 12

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On the Size of the Active Management Industry

CEPR Discussion Paper No. DP7637
Number of pages: 48 Posted: 20 Jan 2010
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 2 (815,280)
Citation 22
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active management, learning, returns to scale

8.
Downloads 3,243 ( 4,455)
Citation 203

Political Uncertainty and Risk Premia

Number of pages: 58 Posted: 24 Sep 2011 Last Revised: 09 May 2017
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 2,775 (5,670)
Citation 16

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political, uncertainty, government, risk premium, put, learning, Bayesian

Political Uncertainty and Risk Premia

Fama-Miller Working Paper , Chicago Booth Research Paper No. 11-39
Number of pages: 58 Posted: 06 Oct 2011 Last Revised: 07 Mar 2014
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 274 (139,964)

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Political Uncertainty and Risk Premia

Becker Friedman Institute for Research in Economics Working Paper No. 2011-007
Number of pages: 61 Posted: 07 Dec 2011 Last Revised: 11 Dec 2012
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 158 (234,451)
Citation 6

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Political Uncertainty and Risk Premia

NBER Working Paper No. w17464
Number of pages: 59 Posted: 30 Sep 2011 Last Revised: 20 Sep 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 34 (566,503)
Citation 1

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Political Uncertainty and Risk Premia

CEPR Discussion Paper No. DP8601
Number of pages: 54 Posted: 01 Nov 2011
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 2 (815,280)
Citation 67
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Bayesian, government, learning, political, put, risk premium, uncertainty

The Price of Political Uncertainty: Theory and Evidence from the Option Market

Fama-Miller Working Paper
Number of pages: 69 Posted: 19 Nov 2013 Last Revised: 26 Jun 2016
Bryan T. Kelly, Lubos Pastor and Pietro Veronesi
Yale SOM, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 3,030 (4,908)
Citation 3

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political uncertainty, options, elections, summits, variance risk, tail risk

The Price of Political Uncertainty: Theory and Evidence from the Option Market

Becker Friedman Institute for Research in Economics Working Paper No. 2014-01
Number of pages: 66 Posted: 13 Jan 2014
Bryan T. Kelly, Lubos Pastor and Pietro Veronesi
Yale SOM, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 134 (268,109)
Citation 3

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The Price of Political Uncertainty: Theory and Evidence from the Option Market

NBER Working Paper No. w19812
Number of pages: 69 Posted: 17 Jan 2014 Last Revised: 21 Aug 2021
Bryan T. Kelly, Lubos Pastor and Pietro Veronesi
Yale SOM, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 33 (572,334)
Citation 12

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The Price of Political Uncertainty: Theory and Evidence from the Option Market

CEPR Discussion Paper No. DP9822
Number of pages: 68 Posted: 02 Jun 2014
Bryan T. Kelly, Lubos Pastor and Pietro Veronesi
Yale SOM, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 3 (804,617)
Citation 23
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options, political uncertainty

10.
Downloads 2,982 ( 5,145)
Citation 73

Predictive Systems: Living with Imperfect Predictors

CRSP Working Paper No. 617, EFA 2007 Ljubljana Meetings Paper
Number of pages: 51 Posted: 19 Feb 2007 Last Revised: 13 Dec 2011
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 2,882 (5,329)
Citation 4

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predictability, expected stock return, state space model, predictive system, predictive regression, imperfect predictors, Bayesian

Predictive Systems: Living with Imperfect Predictors

NBER Working Paper No. w13804
Number of pages: 59 Posted: 12 Jan 2007 Last Revised: 20 Sep 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 63 (435,707)

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Predictive Systems: Living with Imperfect Predictors

NBER Working Paper No. w12814
Number of pages: 59 Posted: 07 Jul 2012 Last Revised: 08 Jul 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 34 (566,503)
Citation 6

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Predictive Systems: Living with Imperfect Predictors

CEPR Discussion Paper No. 6076
Number of pages: 61 Posted: 29 Jun 2007
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 3 (804,617)
Citation 7
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Expected stock return, predictability, predictive regression, predictive system, state space model

11.
Downloads 2,714 ( 5,997)
Citation 238

Uncertainty about Government Policy and Stock Prices

Chicago Booth Research Paper No. 10-25, Fama-Miller Working Paper Series
Number of pages: 54 Posted: 16 Jun 2010 Last Revised: 06 Sep 2012
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 2,503 (6,703)
Citation 6

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government, policy, uncertainty, learning, stock, price

Uncertainty About Government Policy and Stock Prices

MFI Working Paper No. 2010-08
Number of pages: 54 Posted: 17 Jun 2010
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 177 (212,482)
Citation 2

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Uncertainty About Government Policy and Stock Prices

NBER Working Paper No. w16128
Number of pages: 62 Posted: 29 Jun 2010 Last Revised: 28 Jul 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 31 (584,181)

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Uncertainty About Government Policy and Stock Prices

CEPR Discussion Paper No. DP7897
Number of pages: 55 Posted: 19 Jul 2010
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 3 (804,617)
Citation 75
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government, learning, stock, uncertainty

12.
Downloads 2,380 ( 7,404)
Citation 34

Do Funds Make More When They Trade More?

Journal of Finance, Forthcoming, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 53 Posted: 16 Nov 2014 Last Revised: 11 Aug 2020
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 2,276 (7,826)

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turnover, skill, performance, active management, mutual funds

Do Funds Make More When They Trade More?

Fama-Miller Working Paper , Chicago Booth Research Paper No. 14-39
Number of pages: 46 Posted: 19 Nov 2014
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 88 (359,536)

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Do Funds Make More When They Trade More?

NBER Working Paper No. w20700
Number of pages: 51 Posted: 24 Nov 2014 Last Revised: 25 Jul 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 16 (693,869)
Citation 11

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Do Funds Make More When They Trade More?

CEPR Discussion Paper No. DP10261
Number of pages: 48 Posted: 24 Nov 2014
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
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active management, mutual funds, performance, skill, turnover

13.
Downloads 2,312 ( 7,760)
Citation 83

Judging Fund Managers by the Company They Keep

CRSP Working Paper No. 545; EFA 2003 Annual Conference Paper No. 884, HBS Finance Working Paper No. 04-023
Number of pages: 48 Posted: 17 Dec 2002
Harvard Business School - Finance Unit, Harvard Business School - Finance Unit and University of Chicago - Booth School of Business
Downloads 2,165 (8,465)
Citation 2

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Judging Fund Managers by the Company They Keep

NBER Working Paper No. w9359
Number of pages: 48 Posted: 06 Dec 2002 Last Revised: 30 Jul 2021
Harvard Business School - Finance Unit, Harvard Business School - Finance Unit and University of Chicago - Booth School of Business
Downloads 116 (298,410)
Citation 2

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Judging Fund Managers by the Company They Keep

Number of pages: 50 Posted: 21 Feb 2003
Harvard Business School - Finance Unit, Harvard Business School - Finance Unit and University of Chicago - Booth School of Business
Downloads 31 (584,181)
Citation 7
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Mutual funds, performance evaluation, persistence

14.
Downloads 1,917 ( 10,514)
Citation 13

Political Cycles and Stock Returns

Chicago Booth Research Paper No. 17-01, Fama-Miller Working Paper
Number of pages: 41 Posted: 01 Feb 2017 Last Revised: 28 May 2019
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 1,896 (10,489)
Citation 16

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political cycles, risk aversion, presidential puzzle

Political Cycles and Stock Returns

NBER Working Paper No. w23184
Number of pages: 42 Posted: 21 Feb 2017 Last Revised: 08 May 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 20 (662,233)

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Political Cycles and Stock Returns

CEPR Discussion Paper No. DP11864
Number of pages: 44 Posted: 02 Mar 2017 Last Revised: 22 Oct 2018
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 1 (828,486)
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political cycles, presidential puzzle, risk aversion

15.
Downloads 1,734 ( 12,351)
Citation 12

Fund Tradeoffs

Journal of Financial Economics (JFE), Forthcoming, Chicago Booth Research Paper No. 20-10, Fama-Miller Working Paper , Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 55 Posted: 02 Aug 2017 Last Revised: 12 Aug 2020
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 1,701 (12,517)
Citation 9

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fund tradeoffs, fund characteristics, portfolio liquidity, diversification

Fund Tradeoffs

NBER Working Paper No. w23670
Number of pages: 55 Posted: 17 Aug 2017 Last Revised: 05 Sep 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 31 (584,181)
Citation 2

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Portfolio Liquidity and Diversification: Theory and Evidence

CEPR Discussion Paper No. DP12195
Number of pages: 49 Posted: 11 Aug 2017
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 1 (828,486)
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Diversification, Mutual funds, portfolio liquidity

Fund Tradeoffs

CEPR Discussion Paper No. DP12513
Number of pages: 44 Posted: 19 Dec 2017 Last Revised: 22 Oct 2018
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 1 (828,486)
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Diversification, Mutual funds, portfolio liquidity

16.
Downloads 1,575 ( 14,372)
Citation 122

Was There a NASDAQ Bubble in the Late 1990s?

Number of pages: 60 Posted: 20 Aug 2004
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 1,496 (15,311)
Citation 5

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Was There a NASDAQ Bubble in the Late 1990s?

NBER Working Paper No. w10581
Number of pages: 52 Posted: 06 Jul 2004 Last Revised: 31 May 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 62 (439,304)

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Was There a NASDAQ Bubble in the Late 1990s?

Number of pages: 53 Posted: 12 Aug 2004
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 17 (685,856)
Citation 8
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Bubble, valuation, uncertainty

17.
Downloads 1,362 ( 18,048)
Citation 261

Stock Valuation and Learning About Profitability

Number of pages: 60 Posted: 11 Mar 2002
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 1,243 (20,318)
Citation 1

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Stock Valuation and Learning About Profitability

NBER Working Paper No. w8991
Number of pages: 49 Posted: 13 Jun 2002 Last Revised: 28 Jul 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 88 (359,536)
Citation 15

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Stock Valuation and Learning About Profitability

Number of pages: 50 Posted: 29 Jul 2002
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 31 (584,181)
Citation 28
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Valuation, learning, uncertainty, profitability, market to book

Stock Valuation and Learning About Profitability

Posted: 14 Oct 2003
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business

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18.

Investing in Equity Mutual Funds

Number of pages: 37 Posted: 20 Sep 2001
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 1,362 (18,048)
Citation 22

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mutual funds, portfolio selection

19.
Downloads 1,269 ( 20,035)
Citation 1

Dissecting Green Returns

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 53 Posted: 11 Jun 2021 Last Revised: 08 Sep 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 1,071 (25,453)
Citation 1

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sustainable investing, ESG, green factor, greenium

Dissecting Green Returns

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2021-70
Number of pages: 53 Posted: 18 Jun 2021 Last Revised: 08 Sep 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 190 (199,548)

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Sustainable investing, ESG, environment, climate change, green bonds

Dissecting Green Returns

NBER Working Paper No. w28940
Number of pages: 54 Posted: 21 Jun 2021 Last Revised: 12 Sep 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 8 (761,777)
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Dissecting Green Returns

CEPR Discussion Paper No. DP16260
Number of pages: 56 Posted: 14 Jul 2021 Last Revised: 22 Sep 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 0
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ESG, green factor, greenium, sustainable investing

20.
Downloads 1,251 ( 20,474)
Citation 1

Liquidity Risk After 20 Years

Chicago Booth Research Paper No. 19-13, Fama-Miller Working Paper
Number of pages: 25 Posted: 15 Apr 2019 Last Revised: 10 May 2019
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 1,218 (20,952)
Citation 1

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liquidity, liquidity risk, liquidity factor, liquidity beta

Liquidity Risk after 20 Years

NBER Working Paper No. w25774
Number of pages: 23 Posted: 30 Apr 2019 Last Revised: 05 Jun 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 31 (584,181)

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Liquidity Risk after 20 Years

CEPR Discussion Paper No. DP13680
Number of pages: 28 Posted: 24 Apr 2019
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 2 (815,280)
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liquidity, liquidity beta, liquidity factor, liquidity risk

Inequality Aversion, Populism, and the Backlash Against Globalization

Chicago Booth Research Paper No. 20-11, Fama-Miller Working Paper
Number of pages: 58 Posted: 01 Aug 2018 Last Revised: 05 Dec 2020
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 1,168 (22,278)
Citation 8

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inequality, populism, globalization, Brexit, Trump

Inequality Aversion, Populism, and the Backlash Against Globalization

NBER Working Paper No. w24900
Number of pages: 56 Posted: 22 Aug 2018 Last Revised: 16 Jul 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 19 (670,188)
Citation 3

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Inequality Aversion, Populism, and the Backlash Against Globalization

CEPR Discussion Paper No. DP13107
Number of pages: 58 Posted: 21 Aug 2018 Last Revised: 28 May 2020
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 1 (828,486)
Citation 2
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Brexit, Globalization, inequality, populism, Trump

Mutual Fund Performance and Flows During the COVID-19 Crisis

Chicago Booth Research Paper No. 20-18, Fama-Miller Working Paper
Number of pages: 49 Posted: 10 Jul 2020 Last Revised: 14 Aug 2020
Lubos Pastor and Blair Vorsatz
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 914 (31,826)
Citation 2

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COVID-19, mutual funds, sustainability

Mutual Fund Performance and Flows During the COVID-19 Crisis

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-96
Number of pages: 40 Posted: 10 Jul 2020
Lubos Pastor and Blair Vorsatz
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Mutual Fund Performance and Flows During the Covid-19 Crisis

NBER Working Paper No. w27551
Number of pages: 50 Posted: 24 Jul 2020 Last Revised: 13 Oct 2021
Lubos Pastor and Blair Vorsatz
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 98 (335,427)

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Mutual Fund Performance and Flows During the COVID-19 Crisis

CEPR Discussion Paper No. DP15033
Number of pages: 42 Posted: 28 Jul 2020 Last Revised: 26 Aug 2020
Lubos Pastor and Blair Vorsatz
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Citation 8
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COVID-19, Mutual funds, sustainability

23.
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Citation 2

Stock Prices and IPO Waves

Number of pages: 59 Posted: 13 Aug 2003
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 1,074 (25,238)

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Stock Prices and IPO Waves

NBER Working Paper No. w9858
Number of pages: 60 Posted: 23 Jul 2003 Last Revised: 10 Jun 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Stock Prices and IPO Waves

Number of pages: 61 Posted: 19 Sep 2003
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Asset Pricing Models: Implications for Expected Returns and Portfolio Selection

Number of pages: 43 Posted: 27 Aug 1998
A. Craig Mackinlay and Lubos Pastor
University of Pennsylvania - The Wharton School, Finance Department and University of Chicago - Booth School of Business
Downloads 1,022 (27,131)

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Asset Pricing Models: Implications for Expected Returns and Portfolio Selection

NBER Working Paper No. w7162
Number of pages: 41 Posted: 12 Jul 2000 Last Revised: 29 Jul 2021
A. Craig Mackinlay and Lubos Pastor
University of Pennsylvania - The Wharton School, Finance Department and University of Chicago - Booth School of Business
Downloads 106 (318,219)
Citation 13

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25.

Portfolio Selection and Asset Pricing Models

Journal of Finance, forthcoming.
Number of pages: 49 Posted: 13 Feb 2009
Lubos Pastor
University of Chicago - Booth School of Business
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Citation 129

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portfolio choice, Bayesian, asset pricing, CAPM

26.
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Citation 24

Mutual Fund Performance and Seemingly Unrelated Assets

Number of pages: 44 Posted: 27 Feb 2001
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 1,032 (26,739)
Citation 24

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Performance evaluation; Mutual funds; Bayesian analysis

Mutual Fund Performance and Seemingly Unrelated Assets

Posted: 02 Oct 2001
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School

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performance evaluation, mutual funds, Bayesian analysis

Fifty Shades of QE: Comparing Findings of Central Bankers and Academics

Number of pages: 40 Posted: 28 Sep 2020 Last Revised: 08 Apr 2021
National Bank of Slovakia, European Central Bank, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Citation 5

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economic research, quantitative easing, QE, central bank, career concerns

Fifty Shades of QE: Comparing Findings of Central Bankers and Academics

Chicago Booth Research Paper No. 20-31, Fama-Miller Working Paper
Number of pages: 40 Posted: 17 Sep 2020 Last Revised: 05 Feb 2021
National Bank of Slovakia, European Central Bank, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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economic research, quantitative easing, QE, central bank, career concerns

Fifty Shades of QE: Comparing Findings of Central Bankers and Academics

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-128
Number of pages: 40 Posted: 16 Sep 2020 Last Revised: 05 Feb 2021
National Bank of Slovakia, European Central Bank, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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economic research, quantitative easing, QE, central bank, career concerns

Fifty Shades of QE: Comparing Findings of Central Bankers and Academics

ECB Working Paper No. 2021/2584
Number of pages: 153 Posted: 11 Aug 2021
National Bank of Slovakia, European Central Bank, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Fifty Shades of QE: Comparing Findings of Central Bankers and Academics

Number of pages: 40 Posted: 19 Mar 2021
National Bank of Slovakia, European Central Bank, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 27 (610,292)
Citation 1

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economic research, quantitative easing, QE, central bank, career concerns

Fifty Shades of QE: Comparing Findings of Central Bankers and Academics

NBER Working Paper No. w27849
Number of pages: 41 Posted: 28 Sep 2020 Last Revised: 06 Aug 2021
National Bank of Slovakia, European Central Bank, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Fifty Shades of QE: Comparing Findings of Central Bankers and Academics

CEPR Discussion Paper No. DP15449
Number of pages: 43 Posted: 02 Dec 2020 Last Revised: 14 May 2021
National Bank of Slovakia, European Central Bank, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Evaluating and Investing in Equity Mutual Funds

Number of pages: 54 Posted: 13 Jun 2000
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 927 (31,180)

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Evaluating and Investing in Equity Mutual Funds

NBER Working Paper No. w7779
Number of pages: 54 Posted: 20 Jul 2000 Last Revised: 07 Oct 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 74 (398,988)

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Entrepreneurial Learning, the Ipo Decision, and the Post-Ipo Drop in Firm Profitability

CRSP Working Paper No. 616
Number of pages: 47 Posted: 19 Feb 2007
Lubos Pastor, Lucian Taylor and Pietro Veronesi
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Chicago - Booth School of Business
Downloads 568 (60,156)

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Entrepreneurial Learning, the IPO Decision, and the Post-Ipo Drop in Firm Profitability

Number of pages: 46 Posted: 17 Dec 2006
Lubos Pastor, Pietro Veronesi and Lucian Taylor
University of Chicago - Booth School of Business, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 220 (174,052)

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learning, IPO, diversification, profitability

Entrepreneurial Learning, the IPO Decision, and the Post-Ipo Drop in Firm Profitability

NBER Working Paper No. w12792
Number of pages: 47 Posted: 24 Dec 2006 Last Revised: 16 Jun 2021
Lubos Pastor, Pietro Veronesi and Lucian Taylor
University of Chicago - Booth School of Business, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 68 (418,323)
Citation 4

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Entrepreneurial Learning, IPO Decision, and the Post-IPO Drop in Firm Profitability

CEPR Discussion Paper No. 6061
Number of pages: 49 Posted: 28 Jun 2007
Lubos Pastor, Lucian Taylor and Pietro Veronesi
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Chicago - Booth School of Business
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Diversification, IPO, Learning

Estimating the Intertemporal Risk-Return Tradeoff Using the Implied Cost of Capital

CRSP Working Paper No. 607
Number of pages: 44 Posted: 04 Jan 2006
University of Chicago - Booth School of Business, Cornerstone ResearchCornell University - Samuel Curtis Johnson Graduate School of Management and LSV Asset Management
Downloads 765 (40,620)
Citation 2

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risk-return tradeoff, implied cost of capital, international integration

Estimating the Intertemporal Risk-Return Tradeoff Using the Implied Cost of Capital

NBER Working Paper No. w11941
Number of pages: 56 Posted: 13 Apr 2006 Last Revised: 19 Aug 2021
University of Chicago - Booth School of Business, Cornerstone ResearchCornell University - Samuel Curtis Johnson Graduate School of Management and LSV Asset Management
Downloads 39 (539,070)

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Estimating the Intertemporal Risk-Return Tradeoff Using the Implied Cost of Capital

CEPR Discussion Paper No. 5462
Number of pages: 58 Posted: 27 Apr 2006
University of Chicago - Booth School of Business, Cornerstone ResearchCornell University - Samuel Curtis Johnson Graduate School of Management and LSV Asset Management
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Citation 20
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Implied cost of capital, risk-return tradeoff, international integration

31.

Costs of Equity from Factor-Based Models

Rodney L. White Center Working Paper Series #8-97
Number of pages: 47 Posted: 20 Oct 1997
Robert F. Stambaugh and Lubos Pastor
University of Pennsylvania - The Wharton School and University of Chicago - Booth School of Business
Downloads 607 (56,026)

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32.
Downloads 544 ( 64,218)
Citation 89

The Equity Premium and Structural Breaks

Number of pages: 40 Posted: 27 Oct 1998
Robert F. Stambaugh and Lubos Pastor
University of Pennsylvania - The Wharton School and University of Chicago - Booth School of Business
Downloads 473 (75,649)
Citation 1

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The Equity Premium and Structural Breaks

NBER Working Paper No. w7778
Number of pages: 39 Posted: 25 Jul 2000 Last Revised: 14 Sep 2001
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 71 (408,531)
Citation 9

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Income Inequality and Asset Prices Under Redistributive Taxation

Number of pages: 39 Posted: 17 Oct 2015 Last Revised: 09 May 2017
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 446 (81,158)

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inequality, redistribution, taxation, asset pricing, entrepreneurship, heterogeneous agents, incomplete markets

Income Inequality and Asset Prices under Redistributive Taxation

Chicago Booth Research Paper No. 15-46, Fama-Miller Working Paper
Number of pages: 50 Posted: 18 Oct 2015
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 23 (639,327)

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Income Inequality and Asset Prices Under Redistributive Taxation

Number of pages: 49 Posted: 18 Nov 2015
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 18 (678,044)

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inequality, taxation

Income Inequality and Asset Prices Under Redistributive Taxation

NBER Working Paper No. w21668
Number of pages: 40 Posted: 26 Oct 2015 Last Revised: 16 Sep 2021
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 16 (693,869)
Citation 1

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Income Inequality and Asset Prices Under Redistributive Taxation

CEPR Discussion Paper No. DP10899
Number of pages: 51 Posted: 28 Oct 2015
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
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Citation 2
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asset pricing, entrepreneurship, inequality, redistribution, taxation

34.
Downloads 363 (103,907)
Citation 2

The Capital Markets Union: Key Challenges

Number of pages: 26 Posted: 04 Mar 2018
Franklin Allen and Lubos Pastor
Imperial College London and University of Chicago - Booth School of Business
Downloads 362 (103,457)

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Capital Markets Union

The Capital Markets Union: Key Challenges

CEPR Discussion Paper No. DP12761
Number of pages: 29 Posted: 06 Mar 2018
Franklin Allen and Lubos Pastor
Imperial College London and University of Chicago - Booth School of Business
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Citation 2
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Capital Markets Union

35.

Uncertainty and Valuations: A Comment

Critical Finance Review, Forthcoming
Number of pages: 4 Posted: 18 Jan 2014
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 291 (132,164)

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36.

Rational IPO Waves

Number of pages: 51 Posted: 09 Nov 2011
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 207 (184,614)
Citation 73

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IPO, waves

Diseconomies of Scale in Active Management: Robust Evidence

Number of pages: 21 Posted: 16 Jul 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School, University of Pennsylvania - The Wharton School and University of Queensland
Downloads 158 (234,451)
Citation 1

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returns to scale, diseconomies of scale, active management, robust regression

Diseconomies of Scale in Active Management: Robust Evidence

CEPR Discussion Paper No. DP16376
Number of pages: 24 Posted: 22 Sep 2021
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School, University of Pennsylvania - The Wharton School and University of Queensland
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Active management, diseconomies of scale, Returns to Scale, robust regression

38.

Comparing Asset Pricing Models: an Investment Perspective

NBER Working Paper No. w7284
Number of pages: 50 Posted: 05 May 2000 Last Revised: 29 May 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 126 (279,758)
Citation 16

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39.

Costs of Equity Capital and Model Mispricing

NBER Working Paper No. w6490
Number of pages: 63 Posted: 04 Aug 2000 Last Revised: 28 Mar 2021
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 81 (374,748)
Citation 2

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40.

Entrepreneurial Learning, the IPO Decision, and the Post-Ipo Drop in Firm Profitability

The Review of Financial Studies, Vol. 22, Issue 8, pp. 3005-3046, 2009
Posted: 05 Aug 2009
Lubos Pastor, Lucian A. Taylor and Pietro Veronesi
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Chicago - Booth School of Business

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D83, G32, L26

41.

Liquidity Risk and Expect Stock Returns

Posted: 22 Jul 2003
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School

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