This paper studies the transmission mechanism of the post-crisis interest rate policy. In particular, we are interested in explaining an upward regime shift in the spreads between interest on reserves (IOR) and overnight funding rates in Jan 2018. While traditional theories would understand such...

Stock Exchange is a hub of primary and secondary market playing a crucial role in the economy. Stock exchange provides a place to the buyers and sellers of the shares and securities. For this purpose National Stock Exchange was established by the leading institutions in mid 1990s with the main...

Small firms dominated the American economy in the nineteenth century, and still dominate in many developing economies today. This paper tests whether geographic market segmentation due to underdeveloped intracity transportation technology precludes the emergence of large retail/wholesale stores....

Asset heterogeneity is widely believed to hurt the liquidity in markets of many important fixed-income assets such as corporate and municipal bonds. We develop a model in which heterogeneous assets are traded with search friction to study the impact of a quasi-consolidated (QC) trading design in...

Retailing has undergone transformation since the last decade. There has been lot of closure of retail stores which had been successful in the past. The closure of the stores are related to low footfalls in the stores. This is due to the change in the consumer behavior in the present day....

In the current paper, we examine the existence of possible threshold relationships in the commodity price – freight rate nexus, under or over which the relationship between the two changes. Using the first lag of the commodity price change as the threshold variable, we find that, in the case...

Financial analysis is the way toward recognizing the money related qualities and shortcomings of the firm from the accessible accounting data and financial statements. The analysis of financial statements is a significant aid to financial analysis. They give information on how the firm has acted...

Fragmentation has fostered competition among trading venues. While some platforms rely on a preopening phase leading to an opening call auction, some others start the day without such mechanisms. Using a unique dataset of stocks cross-traded on Euronext (which features a pre-open mechanism) and...

Slow-moving capital cannot fully explain the 2005 and 2008 arbitrage crashes in theconvertible bond market. Faced with depressed convertible bond prices implying negative option values, some investors continued to buy strictly dominated straight bonds from the same issuers. This finding suggests...