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

Andersen, Torben G. - 2010

trading restrictions in the interbank foreign exchange (FX) market for Japanese banks during the Tokyo lunch period. Ito … of the Tokyo lunch period. Moreover, we document that the standard variance-ratio methodology inference in this high …

Persistent link: https://www.econbiz.de/10012763589

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

Ito, Takatoshi - 2010

this view. The evidence comes from the introduction of trading in Tokyo over the lunch-hour. Lunch return variance doubles … private value is transitory. Finally, the morning exhibits a clear U-shape when Tokyo closes over lunch, and it disappears …

Persistent link: https://www.econbiz.de/10012763663

Was the Forex Fixing Fixed?

Ito, Takatoshi - 2015

/settlement price for the day. Major fixings occur at 9:55 am Tokyo time for transactions between Japanese banks and their customers … provision at the fixing time is larger than other times, which makes the price impact of any trade smaller. At the Tokyo fixing … liquidity at the Tokyo fixing as well, such financial institutions had announced prices to be more favorable for banks up until …

Persistent link: https://www.econbiz.de/10013016022

Efficiency of the Tokyo Housing Market

Ito, Takatoshi; Hirono, Keiko Nosse - 2021

In analyzing the dynamics of Tokyo housing price, we have compiled annual micro data sets from individual listings in a … regressions give estimates of price and rent increases in the last 11 years in Tokyo. According to these estimates, prices …

Persistent link: https://www.econbiz.de/10013222233

Slum Clearance and Urban Renewal in the United States

Collins, William J. - 2011

We study the local effects of a federal program that helped cities clear areas for redevelopment, rehabilitate structures, complete city plans, and enforce building codes. We use an instrumental variable strategy to estimate the program's effects on city-level measures of income, property...

Persistent link: https://www.econbiz.de/10013120192

Does Government Investment in Local Public Goods Spur Gentrification? Evidence from Beijing

Zheng, Siqi - 2011

In Beijing, the metropolitan government has made enormous place based investments to increase green space and to improve public transit. We examine the gentrification consequences of such public investments. Using unique geocoded real estate and restaurant data, we document that the construction...

Persistent link: https://www.econbiz.de/10013125912

Rethinking Detroit

Owens, Raymond E. - 2017

We study the urban structure of the City of Detroit. Following several decades of decline, the city's current urban structure is clearly not optimal for its size, with a business district immediately surrounded by a ring of largely vacant neighborhoods. We propose a model with residential...

Persistent link: https://www.econbiz.de/10012963181

The Potato'S Contribution to Population and Urbanization : Evidence from an Historical Experiment

Nunn, Nathan - 2009

We exploit regional variation in suitability for cultivating potatoes, together with time variation arising from their introduction to the Old World from the Americas, to estimate the impact of potatoes on Old World population and urbanization. Our results show that the introduction of the...

Persistent link: https://www.econbiz.de/10013158021

Yet Another Tale of Two Cities : Buenos Aires and Chicago

Campante, Filipe R. - 2009

Buenos Aires and Chicago grew during the nineteenth century for remarkably similar reasons. Both cities were conduits for moving meat and grain from fertile hinterlands to eastern markets. However, despite their initial similarities, Chicago was vastly more prosperous for most of the 20th...

Persistent link: https://www.econbiz.de/10013158537

The Wrong Side(S) of the Tracks Estimating the Causal Effects of Racial Segregation on City Outcomes

Ananat, Elizabeth Oltmans - 2008

At the metropolitan level there is a striking negative correlation between residential racial segregation and population characteristics -- particularly for black residents -- but it is widely recognized that this correlation may not be causal. This paper provides a novel test of the causal...

Persistent link: https://www.econbiz.de/10012773419