We provide a general characterization of the structure of rational expectations equilibria of any degree of revelation for pure exchange, sequential economies, with deffinitely many states of private information, an incomplete financial market and nominal assets. We estimate the dimension of the...

This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative model of trading that is built around two new assumptions: (i) both the foreign and domestic investor populations contain investors of different sophistication, and (ii) investor...

The negative external effects of profit orientated businesses on the environment and society are most visible and destructive in developing countries, where compensation measures for adversely affected groups rarely exist and where high corruption rates often impede meaningful enforcement of...

The mission of the Directorate-General for Justice and Consumers is to uphold and strengthen the rights of people living in the European Union, whether they are acting as consumers, entrepreneurs or workers and the rights of EU citizens in the European Union and abroad. Our policies and our...