Crisis “Shock Factors” and the Cross-Section of Global Equity Returns
NBER Working Paper No. 16559
---- Acknowledgements -----
Charles W. Calomiris is Henry Kaufman Professor of Financial Institutions at Columbia Business School and a Research Associate of the National Bureau of Economic Research. Inessa Love and Maria Soledad Martinez Peria are Senior Economists in the Finance and Private Sector Research Group of The World Bank. Gemechu Ayana, Sharai Gomez, and Shafique Jamal provided excellent research assistance. We are grateful to Andrew Ang, Murillo Campello, Deniz Anginer, Shang-Jin Wei and seminar participants at Columbia Business School for helpful comments and discussions. The views and opinions in this paper are those of the authors and do not reflect those of The World Bank and/or its Executive Directors. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.