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Intraday patterns in FX returns and order flow
Breedon, Francis J.; Ranaldo, Angelo - 2012
Using a comprehensive high-frequency foreign exchange dataset, we present evidence of time-of-day effects in foreign exchange returns through a significant tendency for currencies to depreciate during local trading hours. We confirm this pattern across a range of currencies and time zones. We...
Persistent link: https://www.econbiz.de/10009521479
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Privatization and financial market development : theoretical issues
Chiesa, Gabriella; Nicodano, Giovanna - 2003
share-issue privatizations (SIPs) and should a priori impact on market liquidity and market size. A positive correlation …
Persistent link: https://www.econbiz.de/10011589394
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Securities transaction tax-case study of India
Malik, Neha - 2014
Security Transaction Tax (STT) was introduced in the Indian capital market in 2004. It is a tax on transaction of equities as well as their derivatives. Despite the reduction in STT over the years, it constitutes a large percentage (next only to brokerage fee) of the total cost of trading. The...
Persistent link: https://www.econbiz.de/10010354157
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Implications of heterogeneity in preferences, beliefs and asset trading technologies for the macroeconomy
Chien, YiLi; Cole, Harold L.; Lustig, Hanno - 2014
Persistent link: https://www.econbiz.de/10010380069
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Asset supply and liquidity transformation in HANK
Chiang, Yu-Ting; Zoch, Piotr - 2022
Persistent link: https://www.econbiz.de/10013465027
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Insiders-outsiders, transparency and the value of the ticker
Cespa, Giovanni (contributor); Foucault, Thierry (contributor) - 2008
We consider a multi-period rational expectations model in which risk-averse investors differ in their information on past transaction prices (the ticker). Some investors (insiders) observe prices in real-time whereas other investors (outsiders) observe prices with a delay. As prices are...
Persistent link: https://www.econbiz.de/10003740321
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The effects of margin changes on commodity futures markets
Daskalaki, Charoula; Skiadopoulos, George - 2014 - This draft: 24 October 2014
decrease the rate at which prices change, yet they impair the risk sharing function and they decrease market liquidity in …
Persistent link: https://www.econbiz.de/10010472794
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Price competition and endogenous product choice in networks : evidence from the US airline industry
Bontemps, Christian; Gualdani, Cristina; Remmy, Kevin - 2023
We develop a two-stage game in which competing airlines first choose the networks of markets to serve in the first stage before competing in price in the second stage. Spillovers in entry decisions across markets are allowed, which accrue on the demand, marginal cost, and fixed cost sides. We...
Persistent link: https://www.econbiz.de/10014313556
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Inventories, liquidity, and the macroeconomy
Wen, Yi (contributor) - 2008
Persistent link: https://www.econbiz.de/10003783621
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Fighting for the best, losing with the rest : the perils of competition in entrepreneurial finance
Hernández, Juan; Wills, Daniel - 2024
giving more to all entrepreneurs. In equilibrium, competition for the best entrepreneurs forces intermediaries to offer …. Competition among financial intermediaries always forces them to fund projects with negative expected returns both from a private … scale. The three main features of our framework (competition, adverse selection, and limited liability) are necessary to get …
Persistent link: https://www.econbiz.de/10014537358