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Using a comprehensive high-frequency foreign exchange dataset, we present evidence of time-of-day effects in foreign … pattern across a range of currencies and time zones. We also find that this pattern is reflected in order flow and suggest …
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A central issue in climate policy is the question whether long-term targets for green- house gas emissions should be adopted. This paper analyzes strategic effects related to the timing of such commitments. Using a two-country model, we identify a redistributive effect that undermines long-term...
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