Cover -- Contents -- Author's Declaration -- Foreword -- A Personal Note to All Novice Traders -- Part I: Demystifying Stock Markets -- Chapter 1: The Enigma of Stock Markets -- Chapter 2: The Stock Exchange Club -- Chapter 3: The Stockbroking Firm -- Chapter 4: Investments and Shareholders --...

We analyze a two-country model of trade in both legitimate and counterfeit products. Domestic firms own trademarks and establish reputations for delivering high-quality products in a steady-state equilibrium. Foreign suppliers export legitimate low-quality merchandise and counterfeits of...

We analyze a two-country model of trade in both legitimate and counterfeit products. Domestic firms own trademarks and establish reputations for delivering high-quality products in a steady-state equilibrium. Foreign suppliers export legitimate low-quality merchandise and counterfeits of...

Although economists have long been aware of Jensen's inequality, many econometric applications have neglected an important implication of it: estimating economic relationships in logarithms can lead to significant biases in the presence of heteroskedasticity. This paper explains why this problem...