19 citations · 26 across the 17 of their papers we have counts for
3 papers · 1 filter
Investor Experiences and Financial Market Dynamics
Ulrike Malmendier, Demian Pouzo, Victoria Vanasco
How do macro-financial shocks affect investor behavior and market dynamics? Recent evidence on experience effects suggests a long-lasting influence of personally experienced outcom…
The Industry Supply Function and the Long-Run Competitive Equilibrium with Heterogeneous Firms
Ignacio Esponda, Demian Pouzo
In developing the theory of long-run competitive equilibrium (LRCE), Marshall (1890) used the notion of a representative firm. The identity of this firm, however, remained unclear.…
Maximum Likelihood Estimation in Markov Regime-Switching Models with Covariate-Dependent Transition Probabilities
Demian Pouzo, Zacharias Psaradakis, Martin Sola
This paper considers maximum likelihood (ML) estimation in a large class of models with hidden Markov regimes. We investigate consistency of the ML estimator and local asymptotic n…