Similar Search Results

Illiquidity and under-valuation of firms

Gale, Douglas; Gottardi, Piero - 2009

firms' investment decisions. We characterize the conditions under which fire sales occur in equilibrium and their … consequences on firms' investment decisions. We also show that endogenous financial crises may arise in this environment, with … investment …

Persistent link: https://www.econbiz.de/10003923631

The crisis in the foreign exchange market

Melvin, Michael; Taylor, Mark P. - 2009

implications for exchange rates, volatility, returns to currency investing, and transaction costs. This blow-by-blowʺ narrative is …

Persistent link: https://www.econbiz.de/10003861767

Have Capital Market Anomalies Worldwide Attenuated in the Recent Era of High Liquidity and Trading Activity?

Auer, Benjamin R.; Rottmann, Horst - 2018

We revisit and extend the study by Chordia et al. (2014) which documents that, in recent years, increased liquidity has … characterised by positive trends in liquidity, there is no persuasive time-series and cross-sectional evidence for a negative link … between anomalies in market returns and liquidity. Thus, this proxy of arbitrage activity does not appear to be a key factor …

Persistent link: https://www.econbiz.de/10011897589

The exchange rate in a model with heterogeneous agents and transactions costs

De Grauwe, Paul; Grimaldi, Marianna - 2002

In this paper we develop a model of the exchange rate. The existence of transactions costs introduces an important non …

Persistent link: https://www.econbiz.de/10011539052

Merger policy in a quantitative model of international trade

Breinlich, Holger; Nocke, Volker; Schutz, Nicolas - 2016

In a two-country international trade model with oligopolistic competition, we study the conditions on market structure and trade costs under which a merger policy designed to benefit domestic consumers is too tough or too lenient from the viewpoint of the foreign country. Calibrating the model...

Persistent link: https://www.econbiz.de/10011481156

Multimarket linkages, cartel discipline and trade costs

Agnosteva, Delina; Syropoulos, Constantinos; Yotov, Yoto V. - 2017

We build a model of tacit collusion between firms that operate in multiple markets to study the effects of trade costs. A key feature of the model is that cartel discipline is endogenous. Thus, markets that appear segmented are strategically linked via the incentive compatibility constraint....

Persistent link: https://www.econbiz.de/10011781965

Multi-pollutant point-nonpoint trading with participation decisions : the role of transaction costs

Reeling, Carson; Horan, Richard D.; Garnache, Cloe - 2018

. We develop a dynamic search model of point-nonpoint trading that includes transactions costs. These costs affect …. Integrated markets - with trading across pollutants - lead to lower transactions costs for both sources and a larger basin of …

Persistent link: https://www.econbiz.de/10011873755

The organization of international trade

Boddin, Dominik; Stähler, Frank - 2018 - Version of November 19, 2018

This paper discusses how international trade is organized from export to trans-boundary transport to import. All evidence suggests that the transport sector is independent, may exercise market power and features strong economies of scale. We develop a model of a transport industry that operates...

Persistent link: https://www.econbiz.de/10011936311

The firm as a pool of factor complementarities

Lindbeck, Assar; Snower, Dennis J. - 2003

Persistent link: https://www.econbiz.de/10009763532

The determinants of trade costs : a random coefficients approach

Egger, Peter; Průša, Jan - 2014

This paper assesses whether the sensitivity of bilateral trade volumes to various trade cost factors is constant or varies across countries. It utilizes a random coeffcients model and analyses a cross-sectional sample of bilateral trade data for 96 countries in 2005. We expect the elasticity of...

Persistent link: https://www.econbiz.de/10010371278

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