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Persistent link: https://www.econbiz.de/10014543959
For liquidity providers in the rapidly-growing crypto options market as well as potential institutional investors in crypto options, we test the joint efficiency of the bitcoin options and perpetual futures markets, and likewise for ether, and identify the frequency and magnitude of arbitrage...
Persistent link: https://www.econbiz.de/10014353482
Decentralized Autonomous Organization (DAO) provides a decentralized governance solution through blockchain, where decision-making process relies on on-chain voting and follows majority rule. This paper focuses on the most influential DAO, namely MakerDAO, and we find voters fall into different...
Persistent link: https://www.econbiz.de/10014244834
We model investor heterogeneity using different required returns on an investment and evaluate the impact on the valuation of an investment. By assuming no disagreement on the cash flows, we emphasize how risk preferences in particular, but also the costs of capital, influence a subjective...
Persistent link: https://www.econbiz.de/10013213036
We evidence that housing prices negatively affect local firms through a labor channel. Using a series of mandated flood disclosure laws as a quasi-natural shock to housing prices, we find that local labor markets become tighter when housing prices increase. This effect is stronger where renting...
Persistent link: https://www.econbiz.de/10013289270
”, indicating that taking a relatively good position benefits people in the Chinese society. RD is also a pressing issue for China … reviews key measures of RD and empirical findings for China. I also discuss some of the most pressing policy issues with …
Persistent link: https://www.econbiz.de/10011260168
This paper is based on an ongoing joint work with David Sahn and Xiaobo Zhang.
Persistent link: https://www.econbiz.de/10009021580
-wave census-type panel data in 18 villages in rural western China, two identification strategies, instrumental variable and …
Persistent link: https://www.econbiz.de/10009370726
This paper accounts for China’s economic growth since 1980 in a unified endogenous growth model in which a sequencing … of physical capital accumulation, human capital accumulation and innovation drives the rise in China’s aggregate income … can generate a trajectory that accords well with the different stages of development in China. …
Persistent link: https://www.econbiz.de/10010719795
The recent increase in Chinese house prices has led to concerns that China is vulnerable to asset price shocks. In this … disconnected from fundamentals. Thus, the evidence for speculative house price bubbles in China is in general weak. …
Persistent link: https://www.econbiz.de/10011135905