Journal Article
Volatile firms, stable economy
Guo, Hui (2004-03)
National Economic Trends , Issue Mar

Journal Article
Foreign exchange rates are predictable!
Guo, Hui (2005-08)
National Economic Trends , Issue Aug

Journal Article
Stock market returns, volatility, and future output
Guo, Hui (2002-09)
In this article, Hui Guo shows that, if stock volatility follows an AR(1) process, stock market returns relate positively to past volatility but relate negatively to contemporaneous volatility in Merton?s (1973) Intertemporal Capital Asset Pricing Model. The model helps explain the recent finding that stock market volatility drives out returns in forecasting real gross domestic product growth because the predictive power of returns is hampered by their positive correlation with past volatility. If the positive relation between returns and past volatility is controlled for, however, the author ...
Review , Volume 84 , Issue Sep , Pages 75-86

Journal Article
Stock market volatility: reading the meter
Guo, Hui (2002-03)
Monetary Trends , Issue Mar

Journal Article
A simple model of limited stock market participation
Guo, Hui (2001-05)
Stocks have outperformed government bonds, on average, by a large margin in historical data. However, most U.S. households do not own stocks, either directly or indirectly. Also, stocks are highly concentrated in the hands of relatively few wealthy people. In this article, Hui Guo describes some aspects of stock ownership. He then uses an overlapping-generations model to help explain why stock market participation is so limited and discusses some implications of limited stock market participation.
Review , Volume 83 , Issue May , Pages 37-47

Journal Article
Does stock market volatility forecast returns?
Guo, Hui (2003-02)
Monetary Trends , Issue Feb

Journal Article
Higher risk does bring higher returns in stock markets worldwide
Guo, Hui (2007-08)
International Economic Trends , Issue Aug

Journal Article
A rational pricing explanation for the failure of CAPM
Guo, Hui (2004-05)
Many authors have found that the capital asset pricing model (CAPM) does not explain stock returns?possibly because it is only a special case of Merton?s (1973) intertemporal CAPM under the assumption of constant investment opportunities (e.g., a constant expected equity premium). This paper explains the progress that has been made by dropping the assumption that expected returns are constant. First, the evidence on the predictability of returns is summarized; then, an example from Campbell (1993) is used to show how time-varying expected returns can lead to the rejection of the CAPM.
Review , Volume 86 , Issue May , Pages 23-34

Journal Article
Stockholding is still highly concentrated
Guo, Hui (2001-06)
National Economic Trends , Issue Jun

Journal Article
Are investors more risk-averse during recessions?
Guo, Hui (2006-10)
Monetary Trends , Issue Oct