Showing 1 - 10 of 11,164
We discover that letting agents pairwise sequentially exchange at "wrong" prices has a robust effect on prices at convergence. If the initial relative price for a good is cheaper than the equilibrium walrasian price due to initial endowments, the initial excess demand effect pushes resource...
Persistent link: https://www.econbiz.de/10013081713
: the search friction reflected in how long it takes to find a trading opportunity and the bargaining friction reflected in … introducing an asset-specific trade delay into a standard search-and-bargaining model. For both exogenous and endogenous … shows that the reduction in search and bargaining frictions may have opposite effects on market liquidity which is reflected …
Persistent link: https://www.econbiz.de/10012937451
This paper shows the importance of technological synergies among heterogeneous firms for aggregate fluctuations. First, we document six novel empirical facts using microdata that suggest the existence of important technological synergies between trading firms, the presence of positive...
Persistent link: https://www.econbiz.de/10014496498
Persistent link: https://www.econbiz.de/10010209260
Using a sample of 76 countries, this paper examines the impact of major strikes against government and its policies on …-at-Risk metrics. Taken together, these results imply that general strikes have serious ramifications for stock market investors …
Persistent link: https://www.econbiz.de/10012902724
A significant number of institutional investors publicly state the belief that corporate stakeholder relations are … associated with firm value in a manner that the financial market fails to understand. We investigate whether stakeholder … for such information increased. We build a stakeholder-relations index (SI) for a wide range of U.S. firms over the period …
Persistent link: https://www.econbiz.de/10013064494
Persistent link: https://www.econbiz.de/10011973580
Persistent link: https://www.econbiz.de/10014460643
Persistent link: https://www.econbiz.de/10010489677
Persistent link: https://www.econbiz.de/10001647252