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markets. But resolving swap positions at insolvent banks, particularly a bank's out-of- the-money positions, has received less … result in large- fire sale losses and ignite defaults in other swap contracts. Transferring the contracts both is costly to …
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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 of the information content is found to be larger for...
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