The Geographical Location of the Foreign Exchange Market; A Test of an 'Islands' Hypothesis
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A number of recent papers have reported evidence that stock prices are more volatile than is consistent with efficient markets. We argue that the...
In this paper we investigate the empirical relevance of two theoretical issues concerning life cycle consumer optimizing behaviour: the possibility of...
The creditors' bargain view of insolvency law argues that solvency state rights should be preserved in insolvency states. It argues that insolvency...
A critical survey of the literature examining the roles of various financial (and commodity) assets in the transactions process is undertaken. The...
The familiar Hall-Jorgenson (1967) approach to measuring the cost of capital considers a perturbation from the optimal path of the capital stock...
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An analytical basis is provided for the conduct of monetary policy in an economy with a completely unregulated banking system. In particular, the...