Results 271 to 280 of about 31,395 (311)
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Market-Function Asset Purchases
SSRN Electronic Journal, 2023This paper investigates the goals, costs, and benefits of official-sector purchases of government securities for the purpose of restoring market functionality. We explore the design of market-function purchase programs, including their communication, triggers, operational protocols, exit, and wind-down strategies. We further discuss whether, under some
Duffie, Darrell, Keane, Frank
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SSRN Electronic Journal, 2006 We investigate how trading frictions in asset markets affect portfolio choices, asset prices and efficiency. We generalize the search-theoretic model of financial intermediation of Duffie, Gârleanu and Pedersen (2005) to allow for more general preferences and idiosyncratic shock structure, unrestricted portfolio choices, aggregate uncertainty and entry
Ricardo Lagos, Guillaume Rocheteau
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Journal of Mathematical Economics, 2005 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Alós-Ferrer, C., Ania, A.B.
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Asset Legitimacy in Experimental Asset Markets
Journal of Behavioral Finance, 2015We investigate whether prices in experimental asset markets behave differently when participants are required to trade with earned wealth compared to unearned wealth. Unearned endowed wealth, the standard practice in experimental studies of asset price bubbles, may elicit greater than normal risk-seeking behavior.
Paul, Debapriya Jojo +2 more
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Fragility of Safe Asset Markets
SSRN Electronic Journal, 2022Abstract In March 2020, safe asset markets experienced surprising and unprecedented price crashes. We explain how strategic investor behavior can create such market fragility in a model with investors valuing safety, investors valuing liquidity, and constrained dealers.
Eisenbach, Thomas M., Phelan, Gregory
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The Journal of Real Estate Finance and Economics, 2011
Local markets with tight land use controls result in prices rising relative to wages and affordability. Affordability is eased by unconventional but risky finance. Tight land use and loose financing in these renegade markets concentrates the impact of national or international shocks. A positive demand shock raises prices in these tight markets.
Peter Chinloy, Jonathan A. Wiley
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Local markets with tight land use controls result in prices rising relative to wages and affordability. Affordability is eased by unconventional but risky finance. Tight land use and loose financing in these renegade markets concentrates the impact of national or international shocks. A positive demand shock raises prices in these tight markets.
Peter Chinloy, Jonathan A. Wiley
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2007
Abstract In the last chapter, we examined the role of intermediaries as providers of liquidity and risk sharing. We did so under the assumption that intermediaries operated in isolation. There were no other financial institutions and no financial markets. In the present chapter, by contrast, we restrict our attention to asset markets and
Franklin Allen, Douglas Gale
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Abstract In the last chapter, we examined the role of intermediaries as providers of liquidity and risk sharing. We did so under the assumption that intermediaries operated in isolation. There were no other financial institutions and no financial markets. In the present chapter, by contrast, we restrict our attention to asset markets and
Franklin Allen, Douglas Gale
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SSRN Electronic Journal, 2007
The risk-sharing role of redundant assets is not yet fully understood in constrained asset markets. For example, the well-known notions of arbitrage may fail to explain the viability property of asset prices when redundant assets are involved in generating a nontrivial linear structure of free portfolios in equilibrium in constrained asset markets ...
Dong Chul Won, Guangsug Hahn
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The risk-sharing role of redundant assets is not yet fully understood in constrained asset markets. For example, the well-known notions of arbitrage may fail to explain the viability property of asset prices when redundant assets are involved in generating a nontrivial linear structure of free portfolios in equilibrium in constrained asset markets ...
Dong Chul Won, Guangsug Hahn
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Asset Price Bubbles in Complete Markets
SSRN Electronic Journal, 2007This paper provides an extensive study of asset price bubbles in a contemporary version of the continuous time market model (semimartingale processes of traded assets, equivalent local martingale measures (ELMM), NFLVR condition of arbitrage-free markets).
Jarrow, Robert A. +2 more
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Multiperiod Asset Pricing: Incomplete Asset Markets
2003Abstract So far, we have discussed a multiperiod economy with complete asset or Arrow-Debreu markets. In this chapter we will introduce ageneral structure that allows us to characterize incomplete or incomplete asset markets.
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