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Efficient Markets
In the earliest descriptions of the efficient markets hypothesis asset prices were modelled as a martingale. A martingale is a stochastic process...
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Banks and Markets from an Insurance Perspective
This article aims to clarify the analogy between contingent claims in a complete market and banking contracts in a capitalized financial intermediary...
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On the Efficiency of the Informal Currency Markets: The Case of the Cuban Peso
Every market leaves its fingerprint in prices time series. The Efficient Market Hypothesis (EMH), considers that prices behave as random walks, a...
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Markets and knowledge commons: Is there a difference between private and community governance of markets?
It is well-established that market governance can be provided by both public (state) and private organizations. However, the concept of private...
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Original Sin Dissipation and Currency Exposures in Emerging Markets
In this paper, I construct a dataset that measures the composition of 20 emerging market economies’ external liabilities across different instruments...
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Preventive-service fraud in credence good markets
Preventive dental care and automotive service is intended to preempt problems that, if they materialized, would require costly treatment or repair....
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Markets as dualistic, semi-decentralized organizations
The theoretical ideal of a competitive market is generally assumed to separate organizing from trading, in an implicit dualism. Traders sell or buy...
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High-Frequency Trading in Bond Returns: A Comparison Across Alternative Methods and Fixed-Income Markets
A properly performing and efficient bond market is widely considered important for the smooth functioning of trading systems in general. An important...
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Optimal Portfolios for Large Investors in Housing Markets Under Stress Scenarios: A Worst-Case Approach
The study focuses on constructing a mathematical housing market threatened by a major catastrophic event or crash. It incorporates the worst-case...
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A logarithmic market scoring rule agent-based model to evaluate prediction markets
Prediction Markets (PMs) are markets in which agents trade event contingent assets. Enterprises use PMs to forecast revenues and project deadlines....
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Economics of Emergent Markets Platform Markets, Data Markets and Market for Ideas
It is important to understand why a separate chapter on economics of platform marketsPlatform markets, data marketsData markets and market for...
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Global liquidity effect of quantitative easing on emerging markets
Using a panel quantile vector autoregression model, we investigate the global liquidity effect of quantitative easing (QE) in the US on emerging...
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Impacts of demand and supply-side interventions on South Korea’s housing markets: a dynamic housing-CGE analysis
This paper examines the impacts of housing market policies in Korea by develo** a dynamic computable general equilibrium model integrating regional...
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Volatility contagion between cryptocurrencies, gold and stock markets pre-and-during COVID-19: evidence using DCC-GARCH and cascade-correlation network
The rapid rise of Bitcoin and its increasing global adoption has raised concerns about its impact on traditional markets, particularly in periods of...
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Labor Markets
This chapter presents a brief historical overview of labor and labor markets, using the United States as a case study. Topics include the concepts of...
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Product Sustainability and Consumer Environmental Awareness in Differentiated Markets
Sustainable management of natural stock resources can be promoted through state intervention. This study investigates optimal regulatory strategies...
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Financial intermediation and efficient risk sharing in two-period lived OLG models
This article investigates a two-period lived overlap**-generations (OLG) model that incorporates financial intermediation. A risk-neutral bank...
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The power of financial support in accelerating digital transformation and corporate innovation in China: evidence from banking and capital markets
This study explores the role of financial support in the digital transformation of Chinese A-share-listed companies from 2001 to 2020. By utilizing...
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Information Frictions in Real Estate Markets: Recent Evidence and Issues
This article reviews research on the economics of information in real estate. It covers equity investment in private and public markets and...
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Policy insights for wind energy from a choice experiment stated preference efficient design in Apulia region (Italy)
The present work argues that wind energy is either a positive or negative determinant against the risks associated with its use, and aims at:...
