Cross-Sectional Uncertainty and the Business Cycle: Evidence from 40 Years of Options Data
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This paper presents a novel and unique measure of cross-sectional uncertainty constructed from stock options on individual firms. Cross-sectional uncertainty varied little between 1980 and 1995, and subsequently had three distinct peaks -- during the tech boom, the financial crisis, and the
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美国国家经济研究局创建时间：
2020-09-01
