In this paper, we investigate the empirical relationship between institutional ownership, number of analysts following and stock market liquidity. We find that firms with larger number of financial analysts following have wider spreads, lower market quality index, and larger price impact of...

We present an RBC model with a collateral constraint whose tightness is randomly disturbed by a financial shock and evidence that such shock has become more persistent since 1980s. We show that this can be an important contributor to the recent slow recoveries, and a key mechanism may have to do...

We build a general equilibrium model of bank competition in which securitization is the banks�optimal choice. A symmetric capacity-constrained Bertrand competition equilibrium exists as in the directed search literature, e.g., Burdett, Shi and Wright (2001). A key feature of the model is that...

We argue that financial frictions and financial shocks can be an important factor behind the slow recoveries from the three most recent recessions. To illustrate this point, we augment a simple RBC model with a collateral constraint whose tightness is randomly disturbed by a shock that...

Recently battery leasing has been introduced into the market by automobile manufacturers and power suppliers due to its potential to reduce the purchase cost of electric vehicles (EVs). However, the profit prospect of battery leasing is still uncertain. This paper takes the views of both the...

Renewable sources of energy are anticipated to play a major role in electricity generation in Ireland in the future. Currently, electricity is mainly generated from imported gas and coal due to a lack of indigenous fossil fuel resources in Ireland. Solar energy is omnipresent, freely available...

The utilisation of renewable energy resources for power generation is extremely important for Ireland due to the lack of indigenous fossil fuel resources. A micro-wind turbine is by far the most commonly used grid-connected micro-renewable electricity generation system for domestic applications...

Electricity generation from renewable sources of energy will be a key part in the development of future strategies for many countries globally. This renewable electricity generation will be hugely important for Ireland, due to its lack of fossil fuel resources. The extremely good wind resource...

We investigate how the shift in private pension coverage from defined benefit (DB) to defined contribution (DC) retirement plans since the 1980s has contributed to the substantial rise in labor force participation of older Americans. We develop a life cycle model of retirement that captures...

The methodologies and assumptions in financial integration studies are problematic and may lead to spurious empirical results. Using surrogate data analysis and the mutual prediction method of testing for nonlinear interdependence, it is feasible for an analyst, with a scant knowledge of the...