This paper examines the effects of mergers on bidding firms’ stock prices. We find evidence of merger momentum: bidder … stock prices are more likely to increase when a merger is announced if recent mergers by other firms have been received well …

-year Treasury notes, we find that the impact of trades on prices tends to become significantly stronger on stressful days …

We consider a standard cash in advance monetary model with flexible prices or prices set in advance and show that there …

Some recent empirical evidence suggests that stock prices are not properly modelled as the present discounted value of … show that the nonlinearity in the relationship between prices and dividends may arise from how managers choose dividend … payout. In particular, we propose a model of managed dividends which can explain observed long-term trends in stock prices …

all the above facts, but only if one is willing to assume a high labor supply elasticity (2 percent) and a high markup (40 …

that the terms of trade developing countries are essentially the relative prices of commodity exports and manufactured … explosion of oil prices in the early 1970s. The terms of trade industrial countries worsened considerably, while the terms of …