exporters of capital goods to the rest of the world. We develop a model of trsde in capital goods to assess its role spreading …

I develop a simple new model of strategic trade with endogenous timing, generalizaing Glosten and Milgrom (1985) : A … competitive market maker faces n risk neutral traders with unit demands or suppliers. It is private information whether any given … make a trade at a random time. The market is open for an exponential length of time. …

risk on the real, risk adjusted return to capital, capital flows, exchange rate policy, and economic growth in two Pacific …

risk on the real, risk adjusted return to capital, capital flows, exchange rate policy, and economic growth in two Pacific …

balance of three forces: interest rate pass-through, risk shifting, and leverage. When banks can adjust their capital …We provide a theoretical foundation for the claim that prolonged periods of easy monetary conditions increase bank risk … taking. The net effect of a monetary policy change on bank monitoring (an inverse measure of risk taking) depends on the …

banks and industrial enterprises potentially leads to increased productivity and increased capital accumulation, raising …