Results 131 to 140 of about 3,734 (297)

The slow emergence of the rational investor: Grain markets and grain storage of rural estates in western Germany, eighteenth and early nineteenth centuries

The Economic History Review, EarlyView.
Abstract We develop new datasets of monthly grain prices in 14 urban markets and of the storage and marketing of grain by 5 rural estates located in western Germany between the late seventeenth century and c. 1860. We explore whether observed patterns of monthly prices, sales, and storage of grain are consistent with the rational competitive storage ...
Matthias Hartermann, Ulrich Pfister, Friederike Scholten‐Buschhoff   +2 more
wiley   +1 more source

Teoría de la asignación del precio por arbitraje aplicada al mercado accionario chileno

Lecturas de Economía, 2011
Arbitrage pricing theory states that the expected return of an asset portfolio is related to factors characterizing the economy and could be associated to macroeconomic variables.
Werner Kristjanpoller Rodríguez, Mauricio Morales Jure   +1 more
doaj  

Real World Pricing of Long Term Contracts [PDF]

Long dated contingent claims are relevant in insurance, pension fund management and derivative pricing. This paper proposes a paradigm shift in the valuation of long term contracts, away from classical no-arbitrage pricing towards pricing under the real ...
Eckhard Platen
core  

Building a Potemkin village in occupied China: Japan's wartime system of linked trade, 1939–43

The Economic History Review, EarlyView.
Abstract The paper discusses the novel but little‐known exchange rate system of Japanese‐occupied North China during the Second Sino‐Japanese War, in which exporters were given the right to import in the form of a piece of yellow paper, which could be sold in the secondary market.
Shinji Takagi
wiley   +1 more source

The Convertible Arbitrage Strategy Analyzed

This paper analyzes convertible bond arbitrage on the Canadian market for the period 1998 to 2004.Convertible bond arbitrage is the combination of a long position in convertible bonds and a short position in the underlying stocks.
Horst, J.R. ter, Loncarski, I., Veld, C.H.   +2 more
core  

The commercialization of labour markets: Evidence from wage inequality in the Middle Ages

The Economic History Review, EarlyView.
Abstract This paper moves beyond the focus on ‘average’ wage trends in pre‐industrial economies by examining the broad diversity of pay rates and forms of remuneration across occupations and regions in medieval England. We find that whilst some workers enjoyed substantial growth in wage rates after the Black Death, there was a large group who ...
Jordan Claridge, Vincent Delabastita, Spike Gibbs   +2 more
wiley   +1 more source

Consistent Price Systems and Arbitrage Opportunities of the Second Kind in Models with Transaction Costs. [PDF]

In contrast with the classical models of frictionless financial markets, market models with proportional transaction costs, even satisfying usual no-arbitrage properties, may admit arbitrage opportunities of the second kind.
Lépinette-Denis, Emmanuel, Kabanov, Yuri   +1 more
core  

Private money and money market integration: The role of payments infrastructure in nineteenth‐century Switzerland

The Economic History Review, EarlyView.
Abstract Using newly collected discount rate data for six Swiss cities from 1846 to 1893, we find no evidence of increasing integration during a 30‐year period of lightly regulated free banking. We attribute this to two structural issues: banks had incentives to ward off competitors by protecting their local monopolies or forming cartels, and there was
Daniel Kaufmann, Rebecca Stuart
wiley   +1 more source

The big impact of small change: Fresh estimates of English wheat market integration, 1693–1893

The Economic History Review, EarlyView.
Abstract Using existing and new price data sets, we provide the first estimates of market integration across England over the entire 200 years of the industrial revolution. We document a significant, though not huge, integration improvement for markets furthest from London. Full integration was achieved by the 1830s. Our price data sets vary in quality
Liam Brunt, Edmund Cannon
wiley   +1 more source

On the Extent of Arbitrage Constraints within Transaction Algebras (A non-standard approach). [PDF]

Although the standard trading arbitrage model provides with simple settings and adjustment mechanisms so as to take profit whenever an arbitrage opportunity comes up, empirical evidence has been piling up showing that this point of view suffers from many
Rodolfo Apreda
core