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"We investigate the information content of inter- transaction time and find that it varies both across stocks and over … time. On average, inter-transaction time is found to be informative whenever stocks are sufficiently traded. The magnitude …- transaction time is negatively correlated with proxies for the amount of private information in the trading of a particular stock …
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"Standing facilities are designed to place an upper bound on the rates at which financial institutions lend to one another overnight, reducing the volatility of the overnight interest rate, typically the rate targeted by central banks. However, improper design of the facility might decrease a...
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estimation of our model challenging, because we cannot observe the inputs into her decision process. Nevertheless, we are able to …
Persistent link: https://www.econbiz.de/10001915437
"This paper empirically examines the effects of market size on producers' sizes in retail trade industries with many producers. A robust prediction of oligopoly theory is that larger markets are more competitive and have lower price-cost markups. Because producers in more competitive markets...
Persistent link: https://www.econbiz.de/10001915478
"We calibrate a model of labor demand to infer the employment responseto a change in the minimum wage in the food away from home industry. Assuming a perfectly competi- tive labor market, the model predicts a 2.5 to 3.5 percent fall in employment in response to a 10 percent minimum wage change....
Persistent link: https://www.econbiz.de/10001920665
"This paper proposes a methodology for estimating job search models that does not require either functional form assumptions or ruling out the presence of unobserved variation in worker ability. In particular, building on existing results from record- value theory, a branch of statistics that...
Persistent link: https://www.econbiz.de/10001920686
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