The current crisis has triggered significant debate concerning economic theory and policy. Largely absent from this debate is an informed discussion of the methods used by economists in analysing the economy and formulating their proposals. But method matters. Here I argue that current academic...

In this study, we explore the dynamics of the relation between institutional trading and stock returns. We find that stock returns Granger-cause institutional trading (especially purchases) on a quarterly basis. The robust and significant causality from equity returns to institutional trading...

In spite of the general unstable political and economical situation that existed in Palestine, the financial sector has witnessed a positive increase in the last ten years. It consisted of four groups: First: The banking system, which includes 22 Arab, foreign, and Palestinian banks with 135...

This paper models stock returns as a function of three components: a constant expected return, the impact of the mechanism for executing trades, and a rational expectations error. We examine changes in these parameters using Goldfeld and Quandt's (1976) deterministic switching based on time....

We model a run on a financial market, in which each risk-neutral investor fears having to liquidate shares after a run, but before prices can recover back to fundamental values. To avoid having to possibly liquidate shares at the marginal post-run price - in which case the risk-averse...

The historical literature has traditionally paid much attention to the role of universal banking in the industrialization of Germany and has presumed, in line with Gerschenkron (1962), that the system gained preeminence in the late nineteenth century due to the general 'backwardness' of the...

Korean Abstract: 연구는 2002년 이후 한국의 은행 자료를 이용하여 은행 자기자본비율과 자기자본비용 관계를 추정하였다. 먼저 자본자산가격결정모형(CAPM) 모형을 이용하여 한국의 은행 자기자본비용을 추정하였다. 다음 은행...

American International Group, Inc. (AIG), a large insurance company, received a massive bailout during the financial crisis in response to difficulties centered on the company's multifaceted exposure to residential mortgage-backed securities. The company is back on its feet, albeit in more...

Part IV examines FATCA withholding liability for withholdable payments under Code Secs. 1471 and 1472, and provides a nine-point analysis—each of which must be answered affirmatively for the new 30-percent withholding tax to apply

This Article attempts to define hedge funds and to distinguish them from a variety of similar investment funds. After reviewing the hedge fund definition in the U.S. and the EU, this Article argues that the current regulatory framework, which defines hedge funds by reference to what they are not...