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It is challenging to explain the collapse in the price of subprime mortgage-backed securities (MBS) during the … coordination failure among buyers: buyers' waiting to trade at a lower price tomorrow, can lead to a collapse in the price and …
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A recurring theme in recent years in the debate on the international role of currencies has been the possiblity of pricing oil in euro. This paper contributes to these debates by providing a detailed review of the empirical evidence regarding the market for crude oil and current oil invoicing...
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