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The present paper uses a comparison of Japan and the US to argue that the debate about corporate governance reform is …
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A contingent claims valuation model which allows to highlight the implications of program trading in spot markets for the pricing of European-style foreign currency options and for the volatility strike structure implicit in these contracts is devoloped. The curvature of the volatility strike...
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In the second part of the 80s, Japan was under political pressure to expand aggregate demand. It followed suit in … Japan became the victim of a misleading concept of global demand management. …
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