A growing literature contends that, since returns are not normal, higher‐order comoments matter to risk‐averse investors. Fama and French (1993, 1995) find that nonmarket risk factors based on size ...

Published Versions Marco Battaglini, 2011. "The Political Economy of Public Debt," Annual Review of Economics, vol 3 (1), pages 161-189. Marco Battaglini & Salvatore Nunnari & Thomas R Palfrey, 2020. ...