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Ito, Takatoshi - 2015

, and at 4:00 pm London time for transactions between European and US banks and their customers. The two fixings have … different regulations and institutions. The London fix is calculated as a median price during the one minute window around 4 … banks for collusive behaviors to manipulating the price around the London fixing time. It has been mentioned in the media …

Persistent link: https://www.econbiz.de/10012457150

Consumption Access and Agglomeration : Evidence from Smartphone Data

Miyauchi, Yuhei; Nakajima, Kentaro; Redding, Stephen - National Bureau of Economic Research - 2021

We provide new theory and evidence on the role of consumption access in understanding the agglomeration of economic activity. We combine smartphone data that records user location every 5 minutes of the day with economic census data on the location of service-sector establishments to measure...

Persistent link: https://www.econbiz.de/10012482712

Testing for Market Microstructure Effects in Intraday Volatility : A Reassessment of the Tokyo FX Experiment

Anderson, Torben G. - 1998

This paper develops mew robust inference procedures for analyzing the intraday return volatility patterns that constitute a focal point of much market microstructure theory. Our empirical analysis is motivated by the recent lifting of trading restrictions in the interbank foreign exchange (FX)...

Persistent link: https://www.econbiz.de/10012472145

Is There Private Information in the FX Market? The Tokyo Experiment

Ito, Takatoshi - 1997

It is a common view that private information in the foreign exchange market does not exist. We provide evidence against this view. The evidence comes from the introduction of trading in Tokyo over the lunch-hour. Lunch return variance doubles with the introduction of trading, which cannot be due...

Persistent link: https://www.econbiz.de/10012472888

Efficiency of the Tokyo Housing Market

Ito, Takatoshi - 1993

In analyzing the dynamics of Tokyo housing price, we have compiled annual micro data sets from individual listings in a widely-circulated real estate advertising magazine. A data set compiled from "properties for investment" lists both asking (sales) prices and rents for the same properties....

Persistent link: https://www.econbiz.de/10012474571

Financial markets and financial crises : [presented at the NBER Conference ... held in Key Biscayne, Florida, March 23-24, 1990]

Hubbard, R. Glenn (ed.) - 1991 - 1. print

Persistent link: https://www.econbiz.de/10000329134

Volatility in International Financial Market Issuance : The Role of the Financial Center

Cipriani, Marco - 2006

We study the pattern of volatility of gross issuance in international capital markets since 1980. We find several short-lived episodes of high volatility. Over the long run, however, volatility has declined, suggesting that international financial integration has not made financial markets more...

Persistent link: https://www.econbiz.de/10012466075

Financing Cities

Inman, Robert - 2005

The macro-economic and micro-economic evidences makes a persuasive case for cities as important centers for productive efficiency, innnovation, and economic growth. For cities to achieve their full economic potential, however, complementary public services are required. This paper reviews the...

Persistent link: https://www.econbiz.de/10012467482

How are Stock Prices Affected by the Location of Trade?

Froot, Kenneth A. - 1998

We examine pairs of large, Siamese twin' companies whose stocks are traded around the world but have different trading and ownership habitats. Twins pool their cashflows so, with integrated markets, twin stocks should move together. In contrast, the relative prices of twin stocks appear...

Persistent link: https://www.econbiz.de/10012472237

Reach for Yield and Fickle Capital Flows

Caballero, Ricardo J. - 2018

In Caballero and Simsek (2018), we develop a model of fickle capital flows and show that, when countries are similar, international flows create global liquidity and mitigate crises despite their fickleness. In this paper, we focus on the asymmetric situation of Emerging Markets (EM) exchanging...

Persistent link: https://www.econbiz.de/10012453314