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Liquidity and Asset Prices : A Unified Framework
Vayanos, Dimitri - 2010
We examine how liquidity and asset prices are affected by the following market imperfections: asymmetric information …
Persistent link: https://www.econbiz.de/10013151970
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The Banks' Swansong : Banking and the Financial Markets Under Asymmetric Information
Yang, Jungu - 2018
investment in liquidity can be minimized, and the expected utility of uninformed agents thus increased. The role of banks is …
Persistent link: https://www.econbiz.de/10012916727
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Liquidity and Ambiguity: Banks or Asset Markets?
Eichberger, Jürgen; Spanjers, Willy - 2007
consumers face uncertain liquidity needs. The ambiguity the consumers experience is modeled by the degree of confidence in their … additive beliefs. We analyze the optimal liquidity allocation and two institutional settings for implementing this allocation … with high liquidity needs. With increasing ambiguity this preference will be reversed: the asset market is preferred, since …
Persistent link: https://www.econbiz.de/10011422151
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Liquidity and ambiguity : banks or asset markets?
Eichberger, Jürgen; Spanjers, Willy - 2007 - This version June 2007
consumers face uncertain liquidity needs. The ambiguity the consumers experience is modeled by the degree of confidence in their … additive beliefs. We analyze the optimal liquidity allocation and two institutional settings for implementing this allocation … with high liquidity needs. With increasing ambiguity this preference will be reversed: the asset market is preferred, since …
Persistent link: https://www.econbiz.de/10003592776
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Investment in Capital Markets
Ledenyov, Dimitri - 2017
Investment in Capital Markets creates a strategic vision on the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods. The book is written with a main goal to explain the pros and cons of the financial capital...
Persistent link: https://www.econbiz.de/10012961343
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Choosing to Disagree in Financial Markets
Banerjee, Snehal - 2019
Instead of assuming that investors exhibit rational expectations or a specific behavioral bias, we allow them to choose how to interpret the information contained in their private signals and in prices. In an otherwise standard, dispersed information model of financial markets, we show that...
Persistent link: https://www.econbiz.de/10012892723
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Complexity and Financial Panics
Caballero, Ricardo J. - 2016
During extreme financial crises, all of a sudden, the financial world that was once rife with profit opportunities for financial institutions (banks, for short), becomes exceedingly complex. Confusion and uncertainty follow, ravaging financial markets and triggering massive flight-to-quality...
Persistent link: https://www.econbiz.de/10013009283
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Limits of Arbitrage : The State of the Theory
Gromb, Denis - 2010
faced by arbitrageurs can prevent them from eliminating mispricings and providing liquidity to other investors. Research in …
Persistent link: https://www.econbiz.de/10013147062
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Evaluation of Conflict Hazard and Financial Risk in the E7 Economies’ Capital Markets
Hacıoğlu, Ümit - 2013
The purpose of this research is to examine the interaction between financial stress and conflict risk having impacts on financial instruments in capital markets within an interdisciplinary frame. The Fuzzy TOPSIS method is applied in order to analyze effects of conflict hazard on capital markets...
Persistent link: https://www.econbiz.de/10013079783
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Asset Measurement in Imperfect Credit Markets
Bertomeu, Jeremy - 2016
How should a firm measure a productive asset used as collateral in a credit agreement? To answer this question, we develop a model in which firms borrow funds subject to collateral constraints. We characterize the qualities of optimal asset measurements and analyze their interactions with...
Persistent link: https://www.econbiz.de/10012997566