The Draft Statute of the European System of Central Banks: A Commentary
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SP 37
The Clustering of Bid/Ask Prices and the Spread in the Foreign Exchange Market
Following Lawrence Harris' (1989b) study of price clustering in stock prices, we examine the smae phenomenon in the forex market. The pattern of...
DP 110
Existence and uniqueness of an optimum in the infinite-horizon portfolio-cum-saving model with semimartingale investments
The model considered here is essentially that formulated in the author's previous paper Conditions for Optimality in the Infinite-Horizon Portfolio...
DP 109
On The Preservation of Deterministic Cycles When Some Agents Perceive Them To Be Random Fluctuations
Some recent equilibrium models, based on perfect foresight, give rise to complex but deterministic fluctuations in prices and quantities. We modify...
DP 111
Intertemporal Asset Pricing Without Consumption
This paper uses a loglinear approximation to the budget constraint to substitute out consumption from a standard intertemporal asset pricing model. In...
DP 107
