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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

Are Mixed Neighborhoods Always Unstable? Two-Sided and One-Sided Tipping

Card, David - 2010

A great deal of urban policy depends on the possibility of creating stable, economically and racially mixed neighborhoods. Many social interaction models - including the seminal Schelling (1971) model -- have the feature that the only stable equilibria are fully segregated. These models suggest...

Persistent link: https://www.econbiz.de/10012758197

The Dynamics of City Formation

Henderson, J. Vernon - 2010

This paper examines city formation in a country whose urban population is growing steadily over time, with new cities required to accommodate this growth. In contrast to most of the literature there is immobility of housing and urban infrastructure, and investment in these assets is taken on the...

Persistent link: https://www.econbiz.de/10012759558

Escape from the City? The Role of Race, Income, and Local Public Goods in Post-War Suburbanization

Boustan, Leah Platt - 2010

Affluent towns often deliver high-quality public services to their residents. I estimate the willingness to pay to live in a high-income suburb, above and beyond the demand of wealthy neighbors, by measuring changes in housing prices across city-suburban borders as the income disparity between...

Persistent link: https://www.econbiz.de/10012759902

Exclusionary Policies in Urban Development, How Under-Servicing of Migrant Households Affects the Growth and Composition of Brazilian Cities

Feler, Leo - 2014

Localities in developed countries often restrict construction and population growth through regulations governing land usage, lot sizes, building heights, and frontage requirements. In developing countries, such policies are less effective because of the existence of unregulated, informal...

Persistent link: https://www.econbiz.de/10012751446

Educating Urban Children

Murnane, Richard J. - 2014

For a variety of reasons described in the paper, improving the performance of urban school districts is more difficult today than it was several decades ago. Yet economic and social changes make performance improvement especially important today. Two quite different bodies of research provide...

Persistent link: https://www.econbiz.de/10012751624

Did the Death of Distance Hurt Detroit and Help New York?

Glaeser, Edward L. - 2014

Urban proximity can reduce the costs of shipping goods and speed the flow of ideas. Improvements in communication technology might erode these advantages and allow people and firms to decentralize. However, improvements in transportation and communication technology can also increase the returns...

Persistent link: https://www.econbiz.de/10012751694