Allen, Franklin (contributor); Carletti, Elena (contributor) - 2006
state of
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the world. In the next section we focus on the determination of the market
price and study the interrelation … have
four states of the world depending on the realizations of the variables β and
α, which we can express as HH,HL,LH, and …
Abstract:
When liquidity plays an important role as in times of financial crisis, asset prices in some
markets may reflect …