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Jeopardy, non-public information, and insider trading around SEC 10-K and 10-Q filings

Huddart, Steven; Ke, Bin; Shi, Charles - EconWPA - 2005

Evidence contrasting insider trades in the U.S. between high- and low- jeopardy periods and across firms at high and low risk for 10b-5 litigation indicates insiders condition their trades on foreknowledge of price-relevant public disclosures, but avoid profitable trades when jeopardy due to...

Persistent link: https://www.econbiz.de/10005561011

A Dynamic Analysis of Bid-Ask Spreads with Multiple Trade Sizes

Takayama, Shino; Ozsoylev, Han - EconWPA - 2005

This paper studies how the trade size and the historical sequence of trades affect bid-ask spreads, investors’ trading strategies, and the market maker’s learning process in a multi-period economy. First, we show that there is a nonzero cut-off size below which informed traders never buy or...

Persistent link: https://www.econbiz.de/10005413239

Japanese Public Support For Official Development Assistance

Gagen, M. J. - EconWPA - 2003

Public opinion surveys conducted since 1977 in Japan are usually interpreted as showing decreasing support among the … Office of Japan have justified recent cuts in ODA funding levels on this basis. However, these interpretations have been …

Persistent link: https://www.econbiz.de/10005556386

Narrowing the US twin deficits: simulations with a world macroeconometric model

Bagnai, Alberto; Galli, Silvia; Pierucci, Eleonora; … - EconWPA - 2004

particular, on the Euro area and Japan). …

Persistent link: https://www.econbiz.de/10005556489

The Effects of Japanese Foreign Exchange Intervention: GARCH Estimation and Change Point Detection

Hillebrand, Eric; Schnabl, Gunther - EconWPA - 2004

We study the impact of Japanese foreign exchange intervention on the volatility of the yen/dollar exchange rate since the early 1990s based on a GARCH framework. Using daily intervention data provided by the Japanese Ministry of Finance, we show that the success of interventions varies over...

Persistent link: https://www.econbiz.de/10005556654

Weak Economy and Strong Currency - The Origins of the Strong Yen in the 1990s

Schnabl, Gunther - EconWPA - 2004

During the 1990’s the Japanese yen proved astonishingly strong despite the persisting recession. This paper tracks the origins of the high yen. It analyses the influence of interest rates, prices and foreign exchange policy on the yen-dollar exchange rate. It comes to the conclusion that real...

Persistent link: https://www.econbiz.de/10005556664

Monetary Implications of the Hayashi-Prescott Hypothesis for Japan

Andolfatto, David - EconWPA - 2003

Persistent link: https://www.econbiz.de/10005561150

Should we be afraid of Friedman's rule?

Uhlig, Harald - EconWPA - 2000

Should one think of zero nominal interest rates as an undesirable liquidity trap or as the desirable Friedman rule? I use three different frameworks to discuss this issue. First, I restate Cole and Kocherlakota's (1998) analysis of Friedman's rule: short run increases in the money stock -...

Persistent link: https://www.econbiz.de/10005561156

Real Estate Prices, Borrowing Constraints and Business Cycles -A Study of the Japanese Economy

Chakraborty, Suparna - EconWPA - 2005

This paper investigates the causes of business cycle fluctuations that Japan experienced over the period 1980 to 2000 … as collateral in Japan, land tax changes will cause fluctuations in land price that can potentially affect output and … data of land use in Japan provides evidence of such redistribution. …

Persistent link: https://www.econbiz.de/10005561189

Exchange Rate Pass-Through to Manufactured Import Prices: The Case of Japan

Wickremasinghe, Guneratne Banda; Silvapulle, Param - EconWPA - 2004

This paper examines the exchange rate pass-through to yen based manufactured import prices of Japan using asymmetric … shown that the recession in Japan in the 1990s has significantly affected the exchange rate passthrough relationship …

Persistent link: https://www.econbiz.de/10005124902