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The Basel Agreements, designed to pursue financial stability, have been instead a cause of instability, revealing fundamental analytical and operational weaknesses. The idea to define a constant capital ratio through complex statistical models implies serious dangers. A radical change is...
Persistent link: https://www.econbiz.de/10009646361
The Indian financial system has been revolutionised by the application of a new market design : continuous trading with an anonymous limit order book at NSE and BSE. However, in certain situations, this market design has limitations. Call auctions represent an alternative strategy, where the...
Persistent link: https://www.econbiz.de/10009363838
Two different modeling approaches for the numerical computation of the radiation energy exchange in the context of the simulation of high-voltage circuit breakers are investigated. These are the basic Radiative Transfer Equation method and the P1 model which are compared with respect to the...
Persistent link: https://www.econbiz.de/10010751773
The ever increasing development and availability of power electronic systems is the underpinning technology that enables large scale integration of wind generation plants with the electricity grid. As the size and power capacity of the wind turbine continues to increase, so is the need to place...
Persistent link: https://www.econbiz.de/10010668190
Call auctions represent an alternative strategy, where the order ow over a certain time period is pooled, and the market-clearing price obtained through an aggregated supply and demand curve. Call auctions trade off instantaneity of order execution in favour of elimination of impact cost, and...
Persistent link: https://www.econbiz.de/10008500220
The Indian financial system has been revolutionised by the application of a new market design: continuous trading with an anonymous limit order book at NSE and BSE. However, in certain situations, this market design has limitations. Call auctions represent an alternative strategy, where the...
Persistent link: https://www.econbiz.de/10008500234
Persistent link: https://www.econbiz.de/10004998256
limits to circuit breakers on volatility spillover, and also on trading interference hypotheses. I find that switching to the … circuit breakers' regime increases volatility and disrupts the price discovery mechanism. Stock prices are prevented from … that volatility is spread out over the following 2days post-limit hits within the strict price limits regime. Finally, the …
Persistent link: https://www.econbiz.de/10011120376
This paper assesses whether regional cooperation and integration of stock exchanges in eastern and southern Africa could offer a way of overcoming impediments to the exchanges' development. The paper concludes that regional cooperation and, at a later stage, integration, if carried out at the...
Persistent link: https://www.econbiz.de/10005263689
This paper examines the economic importance of stock markets in Africa. It discusses policy options for promoting the development of the stock market in Africa. The results of the paper show that the stock markets have contributed to the financing of the growth of large corporations in certain...
Persistent link: https://www.econbiz.de/10005264024