We investigate empirically the impact of electronic market-makers on the reliability and the consistency with which financial markets provide transactional liquidity services. Our analysis is based on proprietary intraday data from U.S. futures markets. We document results of considerable...

Deepening globalization and associated or parallel technological and institutional developments are creating conditions which may reduce the industrial countries' ability to sustain high levels of taxation. The paper identifies and discusses eight trends which may generate revenue falls. It also...

In this paper, we develop a dynamic supernetwork framework for the modelling and analysis of supply chains with electronic commerce that also includes the role that relationships play. Manufacturers are assumed to produce homogeneous products and to sell them either through physical or...

In this paper we investigate the presence of asymmetric information in the parallel trading of ten-year government fixed rate bonds (BTP) on two secondary electronic platforms: the business-to-business (B2B) MTS platform and the business-to-customer (B2C) BondVision one. The two platforms are...