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Volatility risk and stock return predictability on global financial crises

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Figure

Table 2 below summarizes the data sources and equations description for each of the previously  detailed research steps detailed previously
Table 4 presents the same analysis regarding the historical volatility. In fact historical volatility is  higher on 2001-2002 and 2008-2009 periods
Figure 2: Monthly Historical Volatility
Figure 3: Breakpoints and Sub periods in a couple of financial crises.
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