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show that the optimal risk-sharing agreement restores the first-best outcome, independent of the monitoring structure. …
Persistent link: https://www.econbiz.de/10011203001
This paper applies recently developed procedures to monitor and date so-called "financial market dislocations", defined as periods in which substantial deviations from arbitrage parities take place. In particular, we focus on deviations from the triangular arbitrage parity for exchange rate...
Persistent link: https://www.econbiz.de/10012254820
This paper applies recently developed procedures to monitor and date so-called "financial marketdislocations", defined as periods in which substantial deviations from arbitrage parities take place. In particular, we focus on deviations from the triangular arbitrage parity for exchange rate...
Persistent link: https://www.econbiz.de/10012619980
This paper applies recently developed procedures to monitor and date so-called "financial market dislocations", defined as periods in which substantial deviations from arbitrage parities take place. In particular, we focus on deviations from the triangular arbitrage parity for exchange rate...
Persistent link: https://www.econbiz.de/10012251074
an avenue to avoid the monitoring associated with issuing external capital. We argue that firms operating inefficient …
Persistent link: https://www.econbiz.de/10010753535
, generating high frequency make/take liquidity cycles. Monitoring decisions by market-makers and market-takers are self …
Persistent link: https://www.econbiz.de/10008458013
liquidity cycles. Monitoring decisions by market-makers and market-takers are self-reinforcing, generating multiple equilibria …
Persistent link: https://www.econbiz.de/10008558587
We investigate the relationship between risk taking of life-health (LH) insurers and health (LH) insurers and stability of their institutional ownership within a simultaneous equation system model. Several results stability of their institutional ownership within a simultaneous equation system...
Persistent link: https://www.econbiz.de/10010761879
pressure on firms to set lower share prices to attract analysts is attenuated by institutional monitoring. Our theory refutes …
Persistent link: https://www.econbiz.de/10010599641
Individuals and two-person teams play a hidden - action trust game with pre - play communication. We replicate previous results for individuals that non-binding promises increase cooperation rates. But this does not extend to teams. Wh ile teams make non-binding promises to cooperate at the same...
Persistent link: https://www.econbiz.de/10012024205