Make and Take Fees in the US Equity Market
... Colliard and Foucault (2012) show that an increase in the total fee can be associated with increased trading activity due to heterogeneous patience across investors. With a fee increase, patient investors submit more aggressive quotes, increasing the likelihood of a transaction. We assess empiricall ...
... Colliard and Foucault (2012) show that an increase in the total fee can be associated with increased trading activity due to heterogeneous patience across investors. With a fee increase, patient investors submit more aggressive quotes, increasing the likelihood of a transaction. We assess empiricall ...
words
... remainder of 2015 and, to a lesser extent, 2016 through 2017. These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventory or recognition of the related sales or expenses. In addition to foreign currency forward contracts, the Company ente ...
... remainder of 2015 and, to a lesser extent, 2016 through 2017. These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventory or recognition of the related sales or expenses. In addition to foreign currency forward contracts, the Company ente ...
NBER WORKING PAPER SERIES THE POSITIVE LINK BETWEEN FINANCIAL Aaron Tornell
... 2. The Effects of Liberalization In this section we analyze empirically the links among liberalization, financial fragility, and growth across the set of countries with functioning financial markets. The mechanism described in the introduction operates only in countries with a basic level of contra ...
... 2. The Effects of Liberalization In this section we analyze empirically the links among liberalization, financial fragility, and growth across the set of countries with functioning financial markets. The mechanism described in the introduction operates only in countries with a basic level of contra ...
Output Volatility and Large Output Drops in Emerging
... output drops in emerging market and developing countries have been mainly associated with country-specific events. Another finding is that country-specific factors explain the size of the worst output drops in emerging market and developing countries in the 1987–2003 period to a greater extent than ...
... output drops in emerging market and developing countries have been mainly associated with country-specific events. Another finding is that country-specific factors explain the size of the worst output drops in emerging market and developing countries in the 1987–2003 period to a greater extent than ...
Terrorism and Worker`s Remittances in Pakistan
... Turkey shows the opposite. Indeed, Aydaş et al. (2004) argue that Turkish workers remittances increased with interest rate differentials from 1979 to 1993. Using more recent data (1993‐2003) on Turkey, Alper (2005) conclude that remittances are positively affected by the interest and currency rates ...
... Turkey shows the opposite. Indeed, Aydaş et al. (2004) argue that Turkish workers remittances increased with interest rate differentials from 1979 to 1993. Using more recent data (1993‐2003) on Turkey, Alper (2005) conclude that remittances are positively affected by the interest and currency rates ...
"The Positive Link Between Financial Liberalization Growth and Crises"
... 2. The Effects of Liberalization In this section we analyze empirically the links among liberalization, financial fragility, and growth across the set of countries with functioning financial markets. The mechanism described in the introduction operates only in countries with a basic level of contra ...
... 2. The Effects of Liberalization In this section we analyze empirically the links among liberalization, financial fragility, and growth across the set of countries with functioning financial markets. The mechanism described in the introduction operates only in countries with a basic level of contra ...
Understanding Movements in Aggregate and Product
... One of the central questions in international macroeconomics is why relative prices across countries, as measured by real exchange rates (RERs), are so volatile over time and more speci…cally why do they so closely track movements in nominal exchange rates across countries (e.g. Mussa 1986). This be ...
... One of the central questions in international macroeconomics is why relative prices across countries, as measured by real exchange rates (RERs), are so volatile over time and more speci…cally why do they so closely track movements in nominal exchange rates across countries (e.g. Mussa 1986). This be ...
del13 Spalaria 19079090 en
... average export growth was around 2 percent and 12 percent, respectively, in 2008 and 2009, and rebounded to + 14 and + 5 percent in 2010 and 2011, respectively (WTO (2012)). There have been various explanations for this trade collapse during the crisis, attributing it to strong fall in demand, a ris ...
... average export growth was around 2 percent and 12 percent, respectively, in 2008 and 2009, and rebounded to + 14 and + 5 percent in 2010 and 2011, respectively (WTO (2012)). There have been various explanations for this trade collapse during the crisis, attributing it to strong fall in demand, a ris ...
No.336 / August 2010 Crisis Philip R Lane
... many common challenges to countries around the world, it is also the case that national economies have not been uniformly affected by the global shocks (Lane and Milesi-Ferretti 2010). Moreover, there has been considerable dispersion in national macroeconomic policy responses during the crisis perio ...
... many common challenges to countries around the world, it is also the case that national economies have not been uniformly affected by the global shocks (Lane and Milesi-Ferretti 2010). Moreover, there has been considerable dispersion in national macroeconomic policy responses during the crisis perio ...
NBER WORKING PAPER SERIES CRISIS Agustín S. Bénétrix
... many common challenges to countries around the world, it is also the case that national economies have not been uniformly affected by the global shocks (Lane and Milesi-Ferretti 2010). Moreover, there has been considerable dispersion in national macroeconomic policy responses during the crisis perio ...
... many common challenges to countries around the world, it is also the case that national economies have not been uniformly affected by the global shocks (Lane and Milesi-Ferretti 2010). Moreover, there has been considerable dispersion in national macroeconomic policy responses during the crisis perio ...
NBER WORKING PAPER SERIES SHOULD WE FEAR DERIVATIVES? Rene M. Stulz
... laid the basis for the spectacular growth in derivatives markets we have experienced since then. The volatility of interest rates and exchange rates increased sharply in the 1970s, making it imperative for firms and investors to find ways to hedge these risks. Other changes in the economic environme ...
... laid the basis for the spectacular growth in derivatives markets we have experienced since then. The volatility of interest rates and exchange rates increased sharply in the 1970s, making it imperative for firms and investors to find ways to hedge these risks. Other changes in the economic environme ...
Foreign Direct Investment and Democracy
... Senior Capstone Project for Dario Castro FDI SPILLOVER EFFECTS Technology and Knowledge Externalities The least developed economies, in theory, should experience a catch-up effect in the level of technological advancement (Weil and Galor, 2000; Basu and Weil, 1998; Mankiw et al., 1992). As evidenced ...
... Senior Capstone Project for Dario Castro FDI SPILLOVER EFFECTS Technology and Knowledge Externalities The least developed economies, in theory, should experience a catch-up effect in the level of technological advancement (Weil and Galor, 2000; Basu and Weil, 1998; Mankiw et al., 1992). As evidenced ...
FREE Sample Here - We can offer most test bank and
... A. With the ratification of the Uruguay Round agreements, the GATT became part of the World Trade Organization (WTO) in 1995, and its 117 original members moved into a new era of free trade. B. It became part of the World Trade Organization. C. It led to the uneven distribution of economic power and ...
... A. With the ratification of the Uruguay Round agreements, the GATT became part of the World Trade Organization (WTO) in 1995, and its 117 original members moved into a new era of free trade. B. It became part of the World Trade Organization. C. It led to the uneven distribution of economic power and ...
I Should We Fear Derivatives? Rene´ M. Stulz
... markets. For example, the euro forward contract we discussed earlier has a notional value of $118 million, and the interest rate swap had a notional amount of $200,000. Interest rate swaps represent 56 percent of the derivatives market. The derivatives market has expanded dramatically in recent year ...
... markets. For example, the euro forward contract we discussed earlier has a notional value of $118 million, and the interest rate swap had a notional amount of $200,000. Interest rate swaps represent 56 percent of the derivatives market. The derivatives market has expanded dramatically in recent year ...
INTERNATIONAL COMPETITION, RETURNS TO SKILL AND LABOUR MARKET ADJUSTMENT February 19, 2009
... generate wage differentials between sectors (Krueger and Summer, 1988), and thereby increase workers’ incentives to switch industry. Our paper makes two contributions. We begin by providing further evidence on the impact of within-industry changes in competition on returns to skill using longitudin ...
... generate wage differentials between sectors (Krueger and Summer, 1988), and thereby increase workers’ incentives to switch industry. Our paper makes two contributions. We begin by providing further evidence on the impact of within-industry changes in competition on returns to skill using longitudin ...
Currency Devaluations And Implications Of The
... imports. In such a framework, the exchange rate has both expansionary demand-side and contractionary supply-side effects. A number of studies, both theoretical and empirical, have explored the relative size of the competing effects that follow from devaluations. However, most of the studies involve ...
... imports. In such a framework, the exchange rate has both expansionary demand-side and contractionary supply-side effects. A number of studies, both theoretical and empirical, have explored the relative size of the competing effects that follow from devaluations. However, most of the studies involve ...
Ix-Frank_Thesis - Lund University Publications
... have grown steadily over the last three decades and reached an all time high in 2008 (BEA). As stated, this investment is spread to all corners of the world, albeit unevenly (as shown in Graph 1.). The European Union, for example, receives roughly half of U.S. investment, coming in at $1.6 trillion, ...
... have grown steadily over the last three decades and reached an all time high in 2008 (BEA). As stated, this investment is spread to all corners of the world, albeit unevenly (as shown in Graph 1.). The European Union, for example, receives roughly half of U.S. investment, coming in at $1.6 trillion, ...
NBER WORKING PAPER SERIES AND CURRENCY MARKETS
... returns and the difference in the responses of bond risk premia to real and inflation volatility capture an important dimension of the data. In addition to predictability of domestic bond returns, we evaluate our model implications for the predictability of foreign currency returns and the violatio ...
... returns and the difference in the responses of bond risk premia to real and inflation volatility capture an important dimension of the data. In addition to predictability of domestic bond returns, we evaluate our model implications for the predictability of foreign currency returns and the violatio ...
Inside PESSOA - A detailed description of the
... (2010), whereby financial frictions affect the after tax return on capital and therefore capital demand. Before each production cycle, capital goods producers buy the undepreciated capital stock from entrepreneurs, combining it with investment goods bought from distributors to produce new installed ...
... (2010), whereby financial frictions affect the after tax return on capital and therefore capital demand. Before each production cycle, capital goods producers buy the undepreciated capital stock from entrepreneurs, combining it with investment goods bought from distributors to produce new installed ...
handbook on economic analysis of investment operations
... Kenneth Watson provided insightful comments. We owe a major intellectual debt to Arnold A. Harberger; through his writings over the years he not only provided the theoretical underpinnings of the approach but also commented on several versions of the manuscript. We are also thankful to Glenn Jenkins ...
... Kenneth Watson provided insightful comments. We owe a major intellectual debt to Arnold A. Harberger; through his writings over the years he not only provided the theoretical underpinnings of the approach but also commented on several versions of the manuscript. We are also thankful to Glenn Jenkins ...
Inflation targeting under potential output uncertainty
... relationships to improve the demand and supply identification properties of the Hodrick and Prescott (1997) univariate filter. The conditioning relationships are based on a natural-rate price Philips curve, Okun’s Law and capacity utilisation. Because of the important role accorded to potential outp ...
... relationships to improve the demand and supply identification properties of the Hodrick and Prescott (1997) univariate filter. The conditioning relationships are based on a natural-rate price Philips curve, Okun’s Law and capacity utilisation. Because of the important role accorded to potential outp ...
Capital Controls: Gates and Walls
... “internal” goals, such as low unemployment and low and stable inflation, while at the same time addressing the “external” goal of a sustainable current account. In theory, long-standing capital account restrictions could help achieve this external goal by enabling its government to manage its real ...
... “internal” goals, such as low unemployment and low and stable inflation, while at the same time addressing the “external” goal of a sustainable current account. In theory, long-standing capital account restrictions could help achieve this external goal by enabling its government to manage its real ...
What`s the Damage? Medium-Term Output Dynamics after
... joint occurrence of a currency and a banking crisis. This is consistent with the notion that the output drop is especially persistent following large shocks, carrying over into the medium term. A high prescrisis investment share of GDP is a reliable predictor of high medium-term output losses, becau ...
... joint occurrence of a currency and a banking crisis. This is consistent with the notion that the output drop is especially persistent following large shocks, carrying over into the medium term. A high prescrisis investment share of GDP is a reliable predictor of high medium-term output losses, becau ...
report on the regional workshop on “risk
... infrastructural requirements for the conduct of macroprudential policy analysis. Central banks should ensure that international cooperation is increased to ensure the consistent application of macroprudential policies at national levels ...
... infrastructural requirements for the conduct of macroprudential policy analysis. Central banks should ensure that international cooperation is increased to ensure the consistent application of macroprudential policies at national levels ...