Richard Deaves: Research

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Selected recent working papers

§ Bubbles in experimental asset markets: Irrational exuberance no more. (With L. Ackert, N. Charupat and B. Church)

§ An experimental examination of the house money effect in a multi-period setting. (With L. Ackert, N. Charupat and B. Church)

§ Knowledge and knowledge perception. (With N. Charupat and E. Lüders)

§ An experimental test of the impact of overconfidence and gender on trading activity. (With E. Lüders and G. Y. Luo)

§ Flawed self-directed retirement account decision-making and its implications.

§ The demographics of overconfidence. (With G. Bhandari)

§ Misinformed and informed asset allocation decisions of self-directed retirement plan members. (With G. Bhandari)

§ The dynamics of overconfidence: Evidence from stock market forecasters. (With E. Lüders and M. Schröder)

§ Mutual fund games.

§ Judgment error and speculation in laboratory asset markets. (With L. Ackert, N. Charupat and B. Kluger)

§ The sustainability and predictability of Canadian stock prices. (With B. White)

§ Evidence of the equity risk premium from market practitioners. (With E. Lüders and M. Schröder)

Publications in Refereed Journals

1987

• Market Reactions to U.S. Weekly Money Supply Announcements After the Introduction of Contemporaneous Reserve Requirements: An Empirical Note, Economics Letters.
• The Response of Interest Rates to the Federal Reserve's Weekly Money Announcements: The 'Puzzle' of Anticipated Money, Journal of Monetary Economics. (With A. Melino and J. E. Pesando)

1989

• North American Money Surprises and Financial Market Reactions: An Empirical Note, Economics Letters.

1990

• Hedging Canadian Corporate Debt: A Comment and Extensions, Journal of Futures Markets.
• An Open Economy Model of the Money Supply Announcement - Financial Market Reaction Phenomenon under Policy Anticipations, Journal of Money, Credit and Banking.

1991

• Canadian Weekly Money Supply Announcements and Financial Market Reactions in the First Years of Targeting: A View of Market Perceptions of Bank of Canada Policy, Canadian Journal of Economics.
• Money Demand in China Revisited: Some New Empirical Evidence, Journal of Asian Economics. (With M. W. Luke Chan and Wang Cheng)
• The Impact of Unanticipated U.S. Weekly Money on the Path of the Dollar, Quarterly Review of Economics and Business.
• Costs and Benefits of Using NYMEX Crude Oil Futures, Energy Studies Review. (With I. Krinsky)

1992 

• The Behavior of Oil Futures Returns Around OPEC Conferences, Journal of Futures Markets. (With I. Krinsky)
• An Analysis of Money and Output in the Industrial Sector in China, Journal of Asian Economics. (With M. W. Luke Chan and Wang Cheng)
• Risk Premiums and Efficiency in the Market for Crude Oil Futures, The Energy Journal. (With I. Krinsky)

1993 

• Should the Use of Hedging by Canadian Natural Gas Distributors Be Encouraged By Regulators? Energy Studies Review. (With I. Krinsky)

1994 

• Speculative versus Arbitrage Opportunities from Index Futures Mispricing, International Review of Economics and Finance. 
• A Possible Reconciliation of Some of the Conflicting Findings on Closed-End Fund Discounts, Journal of Business Finance and Accounting. (With I. Krinsky)
• Naive versus Time-Variant Hedging Strategies: The Case of Canadian Stock Index Futures, Canadian Journal of Administrative Sciences. (With I. Krinsky)
• How Good Are Canadian Macroeconomic Forecasters? Canadian Business Economics.

1995 

• Do Futures Prices for Commodities Embody Risk Premiums? Journal of Futures Markets. (With I. Krinsky)

1996

• Forecasting Canadian Short-Term Interest Rates, Canadian Journal of Economics.

1997

• Predictable Excess Fixed Income Returns: The Canadian Case, Journal of Fixed Income.

1998

• New Tools for Investment Decision-making: Real Options Analysis, Canadian Business Economics. (With I. Krinsky)
• Term Premium Determinants, Return Enhancement and Interest Rate Predictability, Journal of Business Finance and Accounting.

1999

• A Simple Timing Strategy for Canadian Fixed Income Portfolios, Canadian Journal of Administrative Sciences.

2000

• A Generalized Bootstrap Method to Determine the Yield Curve, Applied Mathematical Finance. (With M. Parlar)

2003

• Emotion and Financial Markets, Federal Reserve Bank of Atlanta Economic Review. (With L. Ackert and B. Church)
• Backwardation in energy futures markets: Metallgesellschaft revisited, Energy Studies Review. (With N. Charupat)

2004

• Data-conditioning Biases, Performance, Persistence and Flows: The Case of Canadian Equity Funds, Journal of Banking and Finance.
• A Duration-constrained Return Enhancement Strategy for Canadian Default-free Fixed-income Portfolios, Canadian Investment Review. (With P. Miu)

Forthcoming

· How behavioral finance can assist financial professionals, Journal of Personal Finance. (With N. Charupat)

· The comparative performance of load and no-load funds in Canada, Canadian Journal of Administrative Sciences.