The vigor of an economy has frequently been linked to the level of new investment. Compared to most other developed countries, the level of new investment in the UK has been relatively low and the performance of the economy on various dimensions has also been relatively poor. One possible reason...

The purpose of this paper is to compare execution prices of NYSE-listed stocks on the NYSE and on non-NYSE markets. The first conclusion of this comparison is that most of the time the NYSE had the best quote. This result does not necessarily imply that execution prices on the NYSE are better...

This paper examines the return characteristics of low-grade bonds using dealer bid prices. The volatility of an index of these bonds is less than the volatility of indexes of higher-grade bonds such as long-term Treasury bonds. This reduced volatility is due in large part to the shorter duration...