Narrow search
Showing 1 - 10 of 2,290
Cover Image
Risks and Returns of Cryptocurrency
Liu, Yukun - 2018
We establish that the risk-return tradeoff of cryptocurrencies (Bitcoin, Ripple, and Ethereum) is distinct from those of stocks, currencies, and precious metals. Cryptocurrencies have no exposure to most common stock market and macroeconomic factors. They also have no exposure to the returns of...
Persistent link: https://www.econbiz.de/10012913389
Cover Image
The Microeconomics of Cryptocurrencies
Halaburda, Hanna; Haeringer, Guillaume; Gans, Joshua S.; … - 2022
Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies and blockchains. While the discussions initially took place mostly on blogs and other popular media, we now are witnessing the emergence of a growing body of rigorous academic research on these topics. By the nature...
Persistent link: https://www.econbiz.de/10013307509
Cover Image
Common Risk Factors in Cryptocurrency
Liu, Yukun; Tsyvinski, Aleh; Wu, Xi - 2022
We find that three factors – cryptocurrency market, size, and momentum – capture the cross-sectional expected cryptocurrency returns. We consider a comprehensive list of price- and market-related factors in the stock market, and construct their cryptocurrency counterparts. Nine...
Persistent link: https://www.econbiz.de/10013324704
Cover Image
Competing on Speed
Philippon, Thomas - 2011
' trading and participation decisions. Our model predicts that regulation that protect prices will lead to fragmentation and …
Persistent link: https://www.econbiz.de/10013117526
Cover Image
Durable Financial Regulation : Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
Nakamura, Leonard I. - 2011
This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It …
Persistent link: https://www.econbiz.de/10013125587
Cover Image
Riding the Wave of Trade : Explaining the Rise of Labor Regulation in the Golden Age of Globalization
Huberman, Michael - 2010
labor regulation of partners because intraindustry trade was important. The New World exported less differentiated products …The received view pins the adoption of labor regulation before 1914 on domestic forces. Using directed dyad-year event …
Persistent link: https://www.econbiz.de/10013150840
Cover Image
Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation
Beltratti, Andrea - 2010
, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We …-level governance, country-level governance, country-level regulation, and bank balance sheet and profitability characteristics before …
Persistent link: https://www.econbiz.de/10013151816
Cover Image
International Trade and Domestic Regulation
Staiger, Robert W. - 2009
Existing formal models of the relationship between trade policy and regulatory policy suggest the potential for a regulatory race to the bottom. WTO rules and disputes, however, center on complaints about excessively stringent regulations. This paper bridges the gap between the existing formal...
Persistent link: https://www.econbiz.de/10013153585
Cover Image
Heterogeneity in the Effect of Regulation on Entrepreneurship and Entry Size
Ardagna, Silvia - 2009
the heterogeneity of the effect of entry, contract enforcement regulation, and financial development on both the decision … the level of regulation and financial development and some individual characteristics that are important determinants of … entrepreneurship, such as gender, business skills, and social networks. We find that entry regulation moderates the effect of business …
Persistent link: https://www.econbiz.de/10013154571
Cover Image
Regulation and Supervision : An Ethical Perspective
Kane, Edward J. - 2008
This essay shows that government credit-allocation schemes generate incentive conflicts that undermine the quality of bank supervision and eventually produce banking crisis. For political reasons, most countries establish a regulatory culture that embraces three economically contradictory...
Persistent link: https://www.econbiz.de/10012772313