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Tobin tax and trading volume tightening: a reassessment

Damette, Olivier; Goutte, Stéphane - HAL - 2014

different (low and high volatility) regimes. Our empirical investigation looks at the EUR/USD currency market. Our results show … impact on trading activity across market conditions. However, the change in elasticity between low and high volatility … penalize chartists more than fundamentalists, it could reduce exchange rate volatility. …

Persistent link: https://www.econbiz.de/10010821381

Can the Mortensen-Pissarides Model Match the Housing Market Facts ?

Lisi, Gaetano - HAL - 2012

This paper examines whether the baseline Mortensen-Pissarides matching model can account for the housing market facts, namely, the existence of price dispersion, the positive correlation between housing price and trading volume, and between housing price and time-on-the-market. Our main finding...

Persistent link: https://www.econbiz.de/10009652973

Liquidity generated by heterogeneous beliefs and costly estimations

Shen, Min; Turinici, Gabriel - HAL - 2012

We study the liquidity, defined as the size of the trading volume, in a situation where an infinite number of agents with heterogeneous beliefs reach a trade-off between the cost of a precise estimation (variable depending on the agent) and the expected wealth from trading. The "true" asset...

Persistent link: https://www.econbiz.de/10010548256

Liquidity generated by heterogeneous beliefs and costly estimations

Shen, Min; Turinici, Gabriel - HAL - 2012

We study the liquidity, de ned as the size of the trading volume, in a situation where an in nite number of agents with heterogeneous beliefs reach a trade-o between the cost of a precise estimation (variable depending on the agent) and the expected wealth from trading. The \true" asset price is...

Persistent link: https://www.econbiz.de/10010550926

Trading Volume and Market Efficiency: An Agent Based Model with Heterogenous Knowledge about Fundamentals

Lespagnol, Vivien; Rouchier, Juliette - HAL - 2014

amount of assets exchanged in the most liquid time step. However, our model is not showing raising average volatility on long …

Persistent link: https://www.econbiz.de/10010933931

Appropriation, violent enforcement and transaction costs : a critical survey

Vahabi, Mehrdad - HAL - 2011

In this paper, I focus on the extension of transaction costs to appropriative activity and coercive power in the property rights approach. It has been argued that including the costs of appropriation and violent enforcement in transaction costs is based on the assumption that Coaseian bargaining...

Persistent link: https://www.econbiz.de/10009328154

Hybrid Modes of Organization. Alliances, Joint Ventures, Networks, and Other 'Strange' Animals

Ménard, Claude - HAL - 2010

The central message conveyed in this chapter is that there is a whole class of economic organizations that contribute substantially to what Coase (1992) called "the institutional structure of production". These arrangements fall neither under pure market relationships nor within 'firm...

Persistent link: https://www.econbiz.de/10010750977

Changements institutionnels et efficience de l'affrètement au voyage dans le transport fluvial de marchandises

Lendjel, Emeric; Fischman, Marianne - HAL - 2010

VNF (2010)'s statistical data show a remarkable resilience of inland navigation in France during the recession. Yet at least part of the profession is in crisis: the boatmen are now likely to be close to bankruptcy. Key players in the fully liberalized (since 2000) spot market, small independent...

Persistent link: https://www.econbiz.de/10010750989

Is Public-Private Partnership Obsolete?

Ménard, Claude - HAL - 2011

Public-Private Partnership has been high on the agenda of public decision makers since the 1990's. Primarily a contractual approach to the delivery of infrastructures, goods and services traditionally provided by the public sector or by private operators submitted to tight regulation, PPP is...

Persistent link: https://www.econbiz.de/10010751003

Contract Law and the self-enforcing range of contracts in agriculture.

Mazé, Armelle - HAL - 2005

The enforcement of contracts is necessary for efficient exchange in economic activities. The predominance in agriculture of informal contracts leads in many countries to the implementation of specific legal rules for contract law. This article emphasises the complementarities between public and...

Persistent link: https://www.econbiz.de/10010751014