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We analyze trading dynamics as successive high-frequency trading (HFT) firms begin to trade stocks in an equity market. Entrants compete with incumbents for volume, and there is crowding out. Earlier entry is associated with larger effects. After Passive HFT entry, incumbent spreads tighten....
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Advocating for competition in financial markets can be more challenging than in other markets since other policy goals … can take precedence over efficiency considerations. Competition authorities therefore have to cooperate effectively with … financial markets often differs from other markets, meaning that the competition authorities' role can be limited or less …
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We investigate the possibility of completing financial markets in a model with no exogenous probability measure and market imperfections. A necessary and sufficient condition is obtained for such an extension to be possible
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The research seeks to gauge the global competitiveness of Central and Eastern European (CEE) financial markets. The assessment is made using quantitative and hybrid metrics of financial centre development while placing particular emphasis on competitiveness drivers relevant to the activity of...
Persistent link: https://www.econbiz.de/10012962637
Through this paper we propose to realize an analysis of the global competitiveness index for the Central and Eastern European countries. In order to determine the competitiveness of a country we analyze the main factors that are influencing it. The objective of the paper is to identify if a...
Persistent link: https://www.econbiz.de/10011570743
competition. Here, we employ a novel approach to account for IRS that are both unexpected and effective for a bank’s business … theory that monopolistic firms undersupply the market when utilizing their high pricing power in the bank competition …
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