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In open-end funds, net inflows are positively correlated with past performance. This study investigates how past net asset value (NAV) returns affect the premium on closed-end funds traded in the United States and the United Kingdom. Past performance is significantly priced in stock funds,...
Persistent link: https://www.econbiz.de/10005868815
...In this paper, we tackle all these difficulties by conducting a full geomatrical analysis of the comparative statics of general models...
Persistent link: https://www.econbiz.de/10005868912
, the qualitydimension cannot be ignored. This paper provides an exposition of the potentialbiases in estimates of price … structures. Using anapproach developed in the demand estimation literature, a price measure addressingthese issues is derived and … the importance of using this measure is tested using Britishdata. Price is found to have a negative impact on the use of …
Persistent link: https://www.econbiz.de/10005868952
The hypothesis that futures price is an unbiased predictor of the future spot price has been oneof the most …
Persistent link: https://www.econbiz.de/10005869193
time series price data, the mostrelevant of which, although not yet extensively investigated, are seasonality, overlapping …
Persistent link: https://www.econbiz.de/10005869194
Significant attention is paid by policymakers in the UnitedKingdom to the relationship between house prices, thebusiness cycle, and inflation, on account of the pronouncedprocyclical pattern of house prices. Are house prices asymptom of macroeconomic conditions? Or are thereimportant feedback...
Persistent link: https://www.econbiz.de/10005869384
currentdebate on this issue, we adopt a general framework for theanalysis. Regarding the choice of aggregate price indexes, wefocus … on inflation measures that are likely goals for U.S.monetary policy, namely the consumer price index (CPI) andthe …
Persistent link: https://www.econbiz.de/10005869658
[...]Our analysis of how U.S. financial market structure haschanged over the last decade produces more definitiveconclusions. Using firm-level data from a variety of sources, including data collected by central banks, we document that inaggregate, most U.S. wholesale credit and capital markets...
Persistent link: https://www.econbiz.de/10005869671
fundamental levels and stabilize markets. Bycountering and smoothing price shocks, the trading flows ofconvergence traders can … trading riskamplifies asset price shocks.[...] …
Persistent link: https://www.econbiz.de/10005869677
morebranches from other banks (Benz 1998). The price of a givenbranch should depend on the branch’s expected profits, andexpected …. Our branch price data seem to work wellin the sense that branch prices are always correlated withconcentration at one … cannot conclude entirely in favor of the statemarkethypothesis. Branch price data certainly advance thelocal …
Persistent link: https://www.econbiz.de/10005869680