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...

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...

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...

This paper studies the effect of investor's bounded rationality on market dynamics. In an order driven market, we consider a few-types model where two risky assets are exchanged. Agents differ by their behavior, knowledge, risk aversion and investment horizon. The investor's demand is defined by...

This article extends the previous literature on the Tobin tax and financial transaction tax. We investigate the linkages between trading volumes and transaction costs using both a linear and a nonlinear methodology. In stark contrast with previous studies, we consider the possibility that our...

This paper explains why public domestic debt composition in emerging economies can be risky, namely in foreign currency, with a short maturity or indexed. It analyses empirically the determinants of these risk sources separately, developing a new large dataset compiled from national sources for...

I present some evidence showing that the advanced economies' banks were contributing in spreading the Euro-crisis to the emerging economies. For this purpose, I test the common lender channel among other channels of contagion, by using international banking flows data. Based on a constructed...

Purpose The overarching theme is the importance of innovations that are created within the emerging economies. More specifically, the article looks at the development of various alternatives to vehicles powered by the internal combustion engine, new energy vehicles (NEVs) within China....

The study of the southern economies, among which emerging countries such as Brazil and several of Africa stand out, has acquired increasing international importance. In this article south-south cooperation between the South American giant and Sub-Saharan Africa is analyzed, focusing on the...

L'IASB a émis en 2009 l'IFRS pour les PME pour accroître la comparabilité des informations financières publiées par celles-ci. L'objectif de cet article est d'analyser les potentiels scenarios d'implémentation de l'IFRS pour les PMEs et leurs implications dans les économies émergentes,...