portfolio returns. Non-monotonicity can even lead to equilibrium prices permitting simple arbitrage opportunities.In the two … interest parity can generally not be regarded as a no-arbitrage condition and can be considered as an equilibrium condition … only non-generically. The true arbitrage-free correlation between the exchange rate, interest rates, and security prices is …

Investment Theorie werden segmentspezifische Preisunterschiede nicht irrationalem Verhalten zugeschrieben, sondern als in … Übereinstimmung mit ökonomischer Theorie angesehen. Der theoretische Vergleich von Gleichgewichts- und intrinsischen Wertmodellen … investors’ stock segments in China. Within the framework of international portfolio investment theory, segment-specific price …

liquidity leading to the existence of conditions normally assumed to be promptly removed via the actions of profit seeking …. It concludes that the IIS Basis continues to exist due to limitations in market liquidity and hedging alternatives. The …

In recent years a substantial amount of literature in one way or another deals with liquidity. The interest in it grows … measures of liquidity and publish them in the regular reports. But as in literature, there is still no consensus as what … liquidity really means and how it should be measured, or reported, understood or predicted, as the consistent summary of what …

portfolio restrictions, there is a need to differentiate individual arbitrage opportunities from those at the aggregate level …), this difference in the notion of arbitrage at the individual level and the aggregate level is characterized. Extending the … 2-date result of Hens et al., we show that generically there will be some arbitrage opportunities that remain …

with restricted participation. We then provide a characterization of reduced financial structures in terms of arbitrage …

Neoclassical analysis of the labor market and its institutions. A systematic development of the theory of labor supply …