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This paper is an empirical investigation into the Norwegian Interbank Offered Rate (NIBOR) during 2007–11. It is demonstrated that an informal rule change to the benchmark fixing mechanism, instigated by the NIBOR panel banks, not only increased the susceptibility of the benchmark to...
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On May 29, 2008 the Wall Street Journal published an article alleging that several global banks were reporting Libor … “analysis doesn’t prove that banks are lying or manipulating Libor,” it nevertheless conjectures that these banks may “have been …
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symmetric networks. Collusion cannot account for the observed behavior. In our second experiment we reject the conjecture that …
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