Using samples of 25 emerging market countries (EMCs) and 22 industrial countries (ICs), we derive currency misalignment from estimating the equilibrium exchange rate based on the purchasing power parity theory and by considering the Balassa–Samuelson effect. We then examine factors affecting...

In this paper, two different versions of the agent-based DSGE (dynamic stochastic general equilibrium) model are studied in comparison The first version is the mesoscopic modeling of market sentiment using the Brock–Hommes adaptive belief system (ABS). The second version is the microscopic...

This article examines the determinants of cross-sectional liquidity in the Initial Public Offering (IPO) aftermarket. Previous literature suggests that liquidity trading, information asymmetry, the extent of estimation uncertainty and heterogeneity of opinion are related to share turnover of...