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We document the outcome of an options decimalization pilot on Canada's derivatives exchange. Decimalization improves measures of liquidity and price efficiency. The impact differs by the moneyness of an option and is greatest for out-of-the-money options. In contrast with equity studies,...
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style of Basel III and a position limit in the style of the Volcker Rule. Regulation causes market makers to reduce their … enter. Since market makers intermediate less, asset prices exhibit a liquidity premium. Costs of regulation can be assessed …
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Forderungen nach einer Regulierung der Rating-Märkte selbst. Ausgehend davon werden in dieser Arbeit die Prozesse sowie Strukturen … rating-gerichteten Regulierung marktwirtschaftlichen Ansprüchen nicht genügen … Forderungen nach einer Regulierung der Rating-Märkte selbst. Ausgehend davon werden in dieser Arbeit die Prozesse sowie Strukturen …
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This paper provides a novel rationale for the regulation of market size when heterogeneous firms compete. A regulator …
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This paper investigates how privacy regulation affects the structure of online markets. We provide a simple theoretical … derive empirically testable hypotheses regarding a possibly asymmetric effect of privacy regulation on large and small firms … using a diff-diff-diff model with heterogeneous treatment timing. Our theoretical model predicts that privacy regulation may …
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market failures or to remove inadequate regulation. In the first part, the structure, size and economic relevance of the … industry are presented. There is also a brief review of government regulation. The second part is dedicated to analyzing the … possibilities; cost structures and freight rates; the impact of government regulation; and factors concerning efficiency and growth …
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