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Although many CGE models have already been developed for analyzing the climate policy in Japan, most of them only investigate national level impacts. However, impacts of emissions regulations are likely to vary considerably by region because there are large regional differences in household...
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This paper examines how the informational efficiency of the Japanese stock markets changed with the introduction of ETFs(Exchange-Traded Funds) by looking at the arbitrage relationships between cash and futures of the Nikkei225. This paper is unique in that it uses tick data, which enable me to...
Persistent link: https://www.econbiz.de/10005039676
the collapse of Tokugawa Shogunate. It had already been shown that there existed the price mechanism in Dojima. However … unanswered. Before applying the empirical analyses, this paper first introduces the daily price index constructed from the … original historical document, "Yorozu Souba Nikki (Daily memorandum of commodity price indices)," written by the contemporary …
Persistent link: https://www.econbiz.de/10005773262
This paper introduces probability which represents symmetry transaction pattern into Roll [1984] and shows that the second autocorrelation for stockfs return is not necessarily zero. Glosten/Harris [1988] considers trader who symmetrically trades as information trader. Then I examine the...
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that restriction on trade of newly issued stocks in the old system caused the run-up in the stock price and that Livedoor …
Persistent link: https://www.econbiz.de/10009323619