Financial Derivatives have established themselves as a major driving force in the international monetary sphere in the recent past. Financial Derivatives were originally used as an effective monetary instrument to multiply the wealth through ripple effect, of late, these instruments are also...

This paper discusses problems of harmonisation and regulation of the European Internal Financial Market. The argument is that the current division of powers between the EU and Member States is not achieving sufficient harmonisation to develop an internal market. The obstacles to the Internal...

Using the generalized extreme value theory to characterize tail distributions, we address liqui- dation, leverage, and optimal margins for bitcoin long and short futures positions. The empirical analysis of perpetual bitcoin futures on BitMEX shows that (1) daily forced liquidations to out-...

We employ a neoclassical growth model to assess the impact of financial liberalization in a developing country on capital owners' and workers' consumption and welfare. We find in a baseline calibration for an average non-OECD country that capitalists suffer a 42 percent reduction in permanent...

In recent years, financial regulators have come under increasing judicial scrutiny for conducting inadequate cost/benefit assessments in advance of significant reforms. One facet of this scrutiny is judicial skepticism towards the proper role for regulatory experimentation (and the real option...

This paper explores the future EU-UK post-Brexit trade relations as they can be prefigured on the eve of the UK Parliament third final vote on the Withdrawal Agreement. In its first part, the paper provides a critical evaluation of the Article 50 TEU framework of EU-UK future trade relationship...