Abstract: The honor of becoming the Editor-in-Chief of the International Journal of Financial Studies becomes immediately muted by the intensity of the task ahead. I am pleased and flattered to follow in the footsteps of previous editors and to continue to define international financial research. My ambition as well as the IJFS’s ambition is the journal to become a more recognized top tier journal, acclaimed for defining new direction in financial research. Achieving this goal will require persistence of purpose, time and patience. History will judge whether within the next few years IJFS will emerge as an important financial journal publishing research, which will redirect and redefine research in financial issues.

Abstract: We used the Wall Street Journal survey data for the period 2006–2012 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-)herding of forecasters. Forecasts are consistent with herding (anti-herding) of forecasters if forecasts are biased towards (away from) the consensus forecast. We found that anti-herding is prevalent among forecasters of house prices. We also report that, following the recent crisis, the prevalence of forecaster anti-herding seems to have changed over time.

Abstract: In this paper we describe the genesis of a doomsday scenario and discuss potential causes and motivations for a breakup of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the impact of the reintroduction of a national currency on domestic debt, the domestic banking sector, EU membership and the freedom of trade. We also briefly analyze the social and political costs of the accompanying social disorder.