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Testing Uncovered Interest Rate Parity Using LIBOR

Omer, Muhammad; Haan, Jakob de; Scholtens, Bert - CESifo - 2012

We test Uncovered Interest Parity (UIP) using LIBOR interest rates for a wide range of maturities. In contrast to other … markets, LIBOR markets have minimal frictions which could lead to rejecting UIP. Using panel unit root test suggested by Palm …

Persistent link: https://www.econbiz.de/10010552442

Bank Networks : Contagion, Systemic Risk and Prudential Policy

Aldasoro, Iñaki - 2015

We present a network model of the interbank market in which optimizing risk averse banks lend to each other and invest in non-liquid assets. Market clearing takes place through a tâtonnement process which yields the equilibrium price, while traded quantities are determined by means of a...

Persistent link: https://www.econbiz.de/10013028909

Tullock Challenges : Happiness, Revolutions and Democracy

Frey, Bruno S. - 2011

government." To restrain government manipulation, one has to turn to Constitutional Economics and increase the possibilities for …

Persistent link: https://www.econbiz.de/10013124683

'Hold that Ghost' : Using Notches to Identify Manipulation of Population-Based Grants

Foremny, Dirk - 2015

manipulation of the population numbers used by central government to allocate grants to municipalities. As a result, registers … manipulation (rather than real population responses) is the mechanism at work …

Persistent link: https://www.econbiz.de/10013011438

Persuasion and Gender : Experimental Evidence from Two Political Campaigns

Galasso, Vincenzo - 2016

This paper investigates the differential response of male and female voters to competitive persuasion in political campaigns. We implemented a survey experiment during the (mixed gender) electoral race for mayor in Milan (2011), and a field experiment during the (same gender) electoral race for...

Persistent link: https://www.econbiz.de/10012992438

Fishing for Excuses and Performance Evaluation

Larmande, François; Ponssard, Jean-Pierre - CESifo - 2014

We study a principal-agent model in which the agent can provide ex post additional relevant information regarding his performance. In particular, he can provide a legitimate excuse, that is, evidence that a poor result is only due to factors outside his control. However, building a convincing...

Persistent link: https://www.econbiz.de/10010877776

Airline Alliances, Carve-Outs and Collusion

Brueckner, Jan K. - 2011

In this paper, we ask how antitrust immunity subject to a carve-out affects collusion incentives in international … density. Under this approximation, the incentives for interhub collusion are no different before and after the emergence of an …

Persistent link: https://www.econbiz.de/10013119837

Sustainability of Product Market Collusion Under Credit Market Imperfections

Marjit, Sugata - 2017

We study the implications of credit constraints for the sustainability of product market collusion in a bank … degree of collusion, but a substantial increase keeps it unaffected relative to the no-constraint case. A permanent adverse … demand shock in this setup does not affect the possibility of collusion, but may aggravate financing constraints and …

Persistent link: https://www.econbiz.de/10012963378

Multi-Market Collusion with Demand Linkages and Antitrust Enforcement

Choi, Jay Pil - 2009

This paper analyzes dynamic cartel formation and antitrust enforcement when firms operate in demand-related markets. We show that cartel prosecution can have a knock-on effect: desisting a cartel in one market reduces profits and cartel stability and leads to the break-up of the cartel in the...

Persistent link: https://www.econbiz.de/10013160219

Policy Innovations, Political Preferences, and Cartel Prosecutions

Ghosal, Vivek - 2015

, collusion …

Persistent link: https://www.econbiz.de/10013012564