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This paper sheds new light on the impact of information risk and market stress on herding of institutional traders from … herding intensity should increase with information risk. Market stress should affect herding asymmetrically: while there is … risk on herding intensity on an intra-day basis. However, in contrast to the simulation results empirical herding measures …
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This report seeks to shed light on the characteristics of currency carry trades in Latin America. Partly reflecting the degree of financial market integration and development, as well as the effects of regulation, carry trades in the region have typically been implemented by taking long forward...
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The determinants of portfolio choice have been studied extensively in the field of household finance. In this paper we study the determinants of the decision to hold risky assets based on a novel dataset of German bank data. Our primary focus is the question whether East Germans differ in their...
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