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Averaging the reserve requirement is often considered an efficient way to reduce volatility at the very short end of the money market yield curve.The Bank of Finland began to apply an averaging provision at the beginning of October 1995.Notably, the volatility of the overnight rate of interest...
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This article depicts a location game in a circular market. The equivalence results between a convex and a concave transport cost are reexamined by assuming an arbitrary length. In contrast to previous research the solution found shows that the equivalence relationship depends on the space...
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-free communication structure, it is the solution proposed by Herings, van der Laan and Talman (2008). We introduce the notion of link-convexity …, under which the game is shown to have a non-empty core and the average tree solution lies in the core. In general, link-convexity … is weaker than convexity. For games with a cycle-free communication structure, link-convexity is even weaker than super-additivity. …
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convexity and efficient set characterization results on SD efficiency of a given portfolio relative to adiversified set of …
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