involvement of banks. The impact of this new form of "speculation" on the price formation process on commodity futures markets is …

equilibria that are profitable for a speculator. With no reserve price in the initial auction, speculation can enhance the … initial seller's expected revenue. On the other hand, speculation can harm the initial seller even if she chooses an optimal …

speculation per se, ignoring asset price bubbles and their macroeconomic effects. That is perhaps because his views were formed … during the era of financial regulation, when speculation “could do no harm as bubbles on a steady stream of enterprise … a whirlpool of speculation” has begun to ring true again. To deepen our understanding of financial fragility under …

The tax office wins most cases in Japan. We think about why this might be. We find that although judges who rule in …

Conviction rates in Japan exceed 99 percent -- why? On the one hand, because Japanese prosecutors are badly …

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 …