English Abstract: This paper suggests a dynamic measure of intentional herding, causing the excess volatility or even systemic risk in financial markets, which is based on a new concept of cumulative returns in the same direction as well as the collective behavior of all investors towards the...

Korean Abstract: 본 연구는 기존의 금융기관 부실예측 모형을 머신러닝 기법으로 전환할 때 필요한 적용 방법론을 체계적으로 정리하고 저축은행을 대상으로 한 실증분석을 통해 대표적인 머신러닝 기법의 예측력 개선 효과를...

English Abstract: We examine the predictability of real house price movements along with demographic shifts, using a long time series international panel data set that covers 17 advanced countries over the period of 1950-2015. Since demographic structures change slowly and housing markets adjust...