Results 111 to 120 of about 87,733 (349)
Efficient Monetary Allocations and the Illiquidity of Bonds. [PDF]
We construct a monetary economy with heterogeneity in discounting and consumption risk. Agents can insure against this risk with both money and nominal government bonds, but all trades must be monetized.
Boel, Paola, Camera, Gabriele
core
The RAND Journal of Economics, EarlyView.ABSTRACT We study a long‐horizon, oligopolistic market with random shocks to demand that can be arbitraged by two storage operators with finite capacity. This problem applies to any storable commodity—that is, most commodities. Because the arbitrage spread is so sensitive to market power, storage operators face strong incentives to restrain quantities ...
Sergei Balakin, Guillaume Roger
wiley +1 more source
A Stochastic String with a Compound Poisson Process
Abstract and Applied Analysis, 2013 We investigate a compound Poisson infinite factor diffusion model which describes the relationship between the infinite-dimension random risk resource and the corresponding stochastic process.
Sheng Fan
doaj +1 more source
The Inconvenience Cost: A Portfolio Approach to Non-Convergence Between Cash and Futures Prices [PDF]
Cash and futures prices should reach equality, or converge, upon contract maturity. Traders can impose convergence during the delivery month through arbitrage behavior: either making or taking delivery on futures contracts.
Adjemian, Michael K. +2 more
core +1 more source
Global Policy, EarlyView.ABSTRACT This paper examined the critical challenges facing the international monetary system, arguing that they have created conditions for a shift from a neoliberal framework to a pluralist multipolar financial order. Using an interdisciplinary approach that blends international law and international relations, the paper provides an analysis of the ...
Jiangyu Wang
wiley +1 more source
Detecting Tail Risks to Preclude Regulatory Arbitrage [PDF]
, 2020 Matthias Thiemann, Tobias Tröger
openalex +1 more source
Credit risk with semimartingales and risk-neutrality [PDF]
A no-arbitrage framework to model interest rates with credit risk, based on the LIBOR additive process, and an approach to price corporate bonds in incomplete markets, is presented in this paper.
Jesús P. Colino, Winfried Stute
core
Public Trust in Global AI Governance Across Geopolitical Rivals
Global Policy, EarlyView.ABSTRACT The global governance of artificial intelligence (AI) depends on coordination among national governments, international organizations, and non‐state actors. While existing research has mapped the institutional complexity of the emerging AI regime, public trust in the stakeholders involved remains underexplored.
Xiaojun Li
wiley +1 more source
Noise-trading, Costly Arbitrage, and Asset Prices: Evidence from US Closed-end Funds [PDF]
The behavior of US closed-end funds is very different from that of the UK funds studied by Gemmill and Thomas (2002). There is no evidence that their discounts are constrained by arbitrage barriers, no evidence that higher expenses increase discounts and
Flynn, Sean M.
core
Iron Ore Pricing in China: Financialization Through a Marxist Lens
Abacus, EarlyView.We offer a Marxist interpretation of financialization as we examine the Chinese market for iron ore and the shift in the pricing mechanism from an annual fixed price to an indexed price from 2010. Drawing upon Marx's theory of the circuit of capital, we illustrate an empirical case of financialization that results from the conflict between social ...
Xun Gong, Eagle Zhang, Corinne Cortese
wiley +1 more source