In this paper, I find a charter which allows Government Sponsored Enterprises (Fannie Mae) that guarantee mortgage backed securities (MBS) to act as liquidity providers within secondary mortgage markets is beneficial for MBS prices and dealers' transaction costs. I also demonstrate that the...

This study develops a general equilibrium model within which self revelation of ability - that is not accompanied by any signaling - is compatible with arrival at rational expectations equilibriums (REE). In the model, economic agents either are 'confident', 'overconfident', or 'under-confident'...

This study reviews the literature on modeling of Rational Expectations Equilibriums (REE) with respect to pragmatism of inferences. Regardless of evidence for feasibility or existence of REE, none of studies which assume either of Bayesian updating of information, and/or Borel (Quantitative)...

This study develops a new formal theoretical rubric for ranking of proxies for institutional factors that, conceptually, have taxonomy of either of facilitators of, or constraints on economic development. Illustrative implementations of the formal theoretical rubric reveal that spending on each...

The formal theoretical model in this study enables segmentation of countries with respect to three factors, namely, the extent to which income inequality is adopted as a policy variable; the extent to which there is focus on generation of either of `incremental', or `disruptive' innovations; and...

The formal theoretical model in this study provides general equilibrium evidence that a country's ranking with respect to either of income inequality (αr), or GDP Per Capita (Gr) each are better statistics for a country's `placement' in the cross-section of countries than either of actual...

This study provides formal theoretical evidence that, in of itself, and subsequent to the first day of trading, applications of the Gordon Growth Model to pricing of publicly traded equity incorporate informational `noise' and/or `shading of information' that, theoretically, are unbounded....

In this paper, I find that excess demand for external financing in poor quality legal environments is particular to early stage or low collateral value ventures. However, excess demand for external financing from early stage non-technology intensive ventures is greater relative to that from...

Studies of monetary efficiency have focused principally on output, inflation, unemployment and interest rates as sources of monetary efficiency. This study demonstrates trade balances outperform output, inflation, and unemployment rates as sources of monetary efficiency within domestic...

This study provides formal theoretical evidence that in presence of leverage, share prices cannot be characterized to be robust proxies for product price premiums that are outcomes of firms' corporate reputations. The formal theoretical model predicts proxies for each of corporate reputation,...