Discussion Paper No 793 A Dynamic General Equilibrium Analysis Of Deviations From The Laws Of One Price PDF Download
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Author | : Queen's University. Institute for Economic Research |
Publisher | : |
Total Pages | : |
Release | : 1990 |
Genre | : |
ISBN | : |
Download Discussion Paper No. 793. A Dynamic, General Equilibrium Analysis of Deviations from the Laws of One Price Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 1708 |
Release | : 1991-05 |
Genre | : Canada |
ISBN | : |
Download Canadiana Book in PDF, ePub and Kindle
Author | : Lucio Sarno |
Publisher | : |
Total Pages | : 50 |
Release | : 2002 |
Genre | : Foreign exchange rates |
ISBN | : |
Download Non-linear Dynamics in Deviations from the Law of One Price Book in PDF, ePub and Kindle
Author | : Beverly J. Lapham |
Publisher | : Kingston, Ont. : Institute for Economic Research, Queen ́s University |
Total Pages | : 33 |
Release | : 1990 |
Genre | : Prices |
ISBN | : |
Download An Empirical Examination of Deviations from the Laws of One Price Using West German Data Book in PDF, ePub and Kindle
Author | : Thierry Foucault |
Publisher | : Oxford University Press |
Total Pages | : 531 |
Release | : 2023 |
Genre | : Capital market |
ISBN | : 0197542069 |
Download Market Liquidity Book in PDF, ePub and Kindle
"The process by which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. This book offers a more accurate and authoritative take on this process. The book starts from the assumption that not everyone is present at all times simultaneously on the market, and that participants have quite diverse information about the security's fundamentals. As a result, the order flow is a complex mix of information and noise, and a consensus price only emerges gradually over time as the trading process evolves and the participants interpret the actions of other traders. Thus, a security's actual transaction price may deviate from its fundamental value, as it would be assessed by a fully informed set of investors. The book takes these deviations seriously, and explains why and how they emerge in the trading process and are eventually eliminated. The authors draw on a vast body of theoretical insights and empirical findings on security price formation that have come to form a well-defined field within financial economics known as "market microstructure." Focusing on liquidity and price discovery, the book analyzes the tension between the two, pointing out that when price-relevant information reaches the market through trading pressure rather than through a public announcement, liquidity may suffer. It also confronts many striking phenomena in securities markets and uses the analytical tools and empirical methods of market microstructure to understand them. These include issues such as why liquidity changes over time and differs across securities, why large trades move prices up or down, and why these price changes are subsequently reversed, and why we observe temporary deviations from asset fair values"--
Author | : Camila Casas |
Publisher | : International Monetary Fund |
Total Pages | : 62 |
Release | : 2017-11-22 |
Genre | : Business & Economics |
ISBN | : 1484330609 |
Download Dominant Currency Paradigm: A New Model for Small Open Economies Book in PDF, ePub and Kindle
Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Author | : John R. Whitehead |
Publisher | : |
Total Pages | : 60 |
Release | : 2003 |
Genre | : Prices |
ISBN | : |
Download "The Price is Wrong--" Book in PDF, ePub and Kindle
Author | : John H. Cochrane |
Publisher | : Now Publishers Inc |
Total Pages | : 117 |
Release | : 2005 |
Genre | : Business & Economics |
ISBN | : 1933019158 |
Download Financial Markets and the Real Economy Book in PDF, ePub and Kindle
Financial Markets and the Real Economy reviews the current academic literature on the macroeconomics of finance.
Author | : Hans Brems |
Publisher | : |
Total Pages | : 44 |
Release | : 1984 |
Genre | : |
ISBN | : |
Download Von Neumann's Dynamic General Equilibrium Restated and Solved by Elementary Algebra Book in PDF, ePub and Kindle
Author | : Fischer Black |
Publisher | : John Wiley & Sons |
Total Pages | : 224 |
Release | : 2009-11-02 |
Genre | : Business & Economics |
ISBN | : 0470499176 |
Download Business Cycles and Equilibrium Book in PDF, ePub and Kindle
An updated look at what Fischer Black's ideas on business cycles and equilibrium mean today Throughout his career, Fischer Black described a view of business fluctuations based on the idea that a well-developed economy will be continually in equilibrium. In the essays that constitute this book, which is one of only two books Black ever wrote, he explores this idea thoroughly and reaches some surprising conclusions. With the newfound popularity of quantitative finance and risk management, the work of Fischer Black has garnered much attention. Business Cycles and Equilibrium-with its theory that economic and financial markets are in a continual equilibrium-is one of his books that still rings true today, given the current economic crisis. This Updated Edition clearly presents Black's classic theory on business cycles and the concept of equilibrium, and contains a new introduction by the person who knows Black best: Perry Mehrling, author of Fischer Black and the Revolutionary Idea of Finance (Wiley). Mehrling goes inside Black's life to uncover what was occurring during the time Black wrote Business Cycles and Equilibrium, while also shedding light on what Black would make of today's financial and economic meltdown and how he would best advise to move forward. The essays within this book reach some interesting conclusions concerning the role of equilibrium in a developed economy Warns about the use and abuse of modeling Explains the risky business of risk in a straightforward and accessible style Contains chapters dedicated to "the effects of uncontrolled banking," "the trouble with econometric models," and "the effects of noise on investing" Includes commentary on Black's life and work at the time Business Cycles and Equilibrium was written as well as insight as to what Black would make of the current financial meltdown Engaging and informative, the Updated Edition of Business Cycles and Equilibrium will give you a better understanding of what is really going on during these uncertain and volatile financial times.