This paper investigates the effects of learning channels on stock market participation. More
specifically, we investigate the direct effects of learning about financial matters from one's …

I establish that financial news production can be strongly influenced by factors unrelated to
the arrival of, and demand for, information. Fluctuations in real economic activity, such as …

We examine whether supply-side capacity constraints contribute to the well documented
“failure to refinance” among certain borrowers who would benefit financially from doing so …

It is well-documented that many mortgage borrowers make sub-optimal financial decisions
by failing to refinance when interest rates are low, despite large potential savings. This …

I provide first empirical evidence that bank advertising impacts deposit demand. Exploiting
geographical segmentation of the US local TV advertisement market, I document that bank …

Individual investors reduce their trading activity in financial markets after the release of
negatively biased Hollywood movies related to financial markets. These movies regularly …

This study attempts to unravel the stock market participation puzzle. It approaches the puzzle
with the idea that access to information reduces entry costs and, hence, encourages stock …