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Entry regulations and product variety in retail
Maican, Florín G.; Orth, Matilda - 2021
Persistent link: https://www.econbiz.de/10012542385
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War signals: A theory of trade, trust and conflict
Rohner, Dominic; Thoenig, Mathias; Zilibotti, Fabrizio - 2011
We construct a dynamic theory of civil conflict hinging on inter-ethnic trust and trade. The model economy is … inhabitated by two ethnic groups. Inter-ethnic trade requires imperfectly observed bilateral investments and one group has to form … beliefs on the average propensity to trade of the other group. Since confict disrupts trade, the onset of a conflict signals …
Persistent link: https://www.econbiz.de/10010316887
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The Effect of Interest Rate Options Hedging on Term-Structure Dynamics
Kambhu, John; Mosser, Patricia C. - Federal Reserve Bank <New York, NY> - 2001
[...]In this article, we study the influence of market liquidity anddynamic trading strategies on the short-run dynamics of theyield curve. Specifically, we focus on the recent behavior ofintermediate-maturity interest rates for evidence of marketliquidity effects arising from the hedging of...
Persistent link: https://www.econbiz.de/10005869876
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Asia’s Trade Performance after the Currency Crisis
Higgins, Matthew J.; Klitgaard Hertel, Thomas - Federal Reserve Bank <New York, NY> - 2000
worldtradable goods prices. Indeed, trade prices were fallingthroughout Asia by similar magnitudes, regardless of howmuch each …
Persistent link: https://www.econbiz.de/10005869932
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The Impact of the Asia Crisis on U.S. Industry: An Almost-Free Lunch?
Harrigan, James - Federal Reserve Bank <New York, NY> - 2000
[...]Although the overall effects of the Asia crisis on the UnitedStates were modest, they could have obscured other, largereffects in particularly vulnerable U.S. industries. Accordingly,this article looks beyond the aggregate data associated with thecrisis and instead focuses on these...
Persistent link: https://www.econbiz.de/10005870015
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Support for Resistance: Technical Analysis and Intraday Exchange Rates
Osler, Carol - Federal Reserve Bank <New York, NY> - 2000
[...]Early in the morning of each business day, the major foreignexchange trading firms send their customers lists oftechnical trading signals for that day. Timely technical signalsare also supplied by major real-time information providers.These signals, which are based primarily on prior price...
Persistent link: https://www.econbiz.de/10005870022
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Horizon Problems and Extreme Events in Financial Risk Management
Christoffersen, Peter F.; Diebold, Francis X.; … - McGill University <Montréal> / Department of Economics; … - 1998
In this paper, we address this question, exploringthe interface between long-horizon financial riskmanagement and long-horizon volatility forecastabilityand, in particular, whether long-horizon volatility isforecastable enough such that volatility models are usefulfor long-horizon risk...
Persistent link: https://www.econbiz.de/10005870076
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Designing Incentive-Compatible Regulation in Banking: The Role of Penalty in the Precommitment Approach
Kobayakawa, Shuji - Nihon-Ginkō <Tōkyō>; London School of Economics and … - 1998
The purpose of this paper is to present a framework forincentive-compatible regulation that would enable regulatorsto ensure that riskier banks maintain higher capitalholdings.Under the precommitment approach, a bankannounces the appropriate level of capital that covers themaximum value of...
Persistent link: https://www.econbiz.de/10005870080
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Bank Capital Requirements for Market Risk: The Internal Models Approach
Hendricks, Darryll; Hirtle, Beverly - Federal Reserve Bank <New York, NY>; London School of … - 1997
[...]This paper presents an overview of the new capitalrequirements. In the first section, we describe the structureof the requirements and the considerations that went intotheir design. In addition, we address some of the concernsthat have been raised about the methods of calculating...
Persistent link: https://www.econbiz.de/10005870218
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Trade and Wages: Choosing Among Alternative Explanations
Bhagwati, Jagdish N. - University of British Columbia <Vancouver, British … - 1995
The decline in unskilled workers’ real wagesduring the 1980s in the United States andthe increase in their unemployment inEurope (due to the comparative inflexibilityof European labor markets vis-à-vis those in the UnitedStates)1 have prompted a search for possible explanations.This search...
Persistent link: https://www.econbiz.de/10005870363