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Market Microstructure and the Risks of High-Frequency Trading

Aldridge, Irene - 2013

The current research assesses the risks commonly attributed to the presence of HFT in the context of different market structures deployed by the U.S. exchanges. In particular, we find that, by design, the so-called “normal” exchanges have the lowest market quality, including the highest...

Persistent link: https://www.econbiz.de/10013079007

Size-dependent policies and efficient firm creation

Ando, Sakai - 2018

I study the welfare implications of size-dependent firm regulation policies (SDPs) in the presence of entrepreneurial risks. Although SDP has been considered a source of misallocation, I show that, once entrepreneurial risks are taken into account, SDP can improve efficiency. Quantitatively, I...

Persistent link: https://www.econbiz.de/10011867553

The Banks' Swansong : Banking and the Financial Markets Under Asymmetric Information

Yang, Jungu - 2018

Bank runs may serve to communicate information across agents, and thus enhance rather than thwart allocation efficiency … (revealing hidden information). In this way bank runs help uninformed agents to achieve efficient allocation under the condition … point which distinguishes between this paper from most other related studies. The efficiently bank runs provide new ground …

Persistent link: https://www.econbiz.de/10012916727