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cross-industry differences in this dimension. Theory suggests several potential factors that might explain this dispersion … lower variability of the number of firms; and (2) these relationships are non-linear as suggested by theory with initial … appear to be mixed. We explore the implications of our findings for antitrust analysis. …
Persistent link: https://www.econbiz.de/10011508062
Assuming deterministic demand Liski and Montero (2006) show that forward trading is able to facilitate collusion. We present a more concise model incorporating the main reason for forward trading: Uncertainty. In general, fluctuations make collusion harder to sustain (Rotemberg and Saloner,...
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International financial flows are the propagation mechanism for transmitting financial instability across borders. They are also the source of unsustainable external debt. Managing volatility thus requires institutions that promote domestic financial stability, ensure that domestic instability...
Persistent link: https://www.econbiz.de/10013039543
International financial flows are the propagation mechanism for transmitting financial instability across borders. They are also the source of unsustainable external debt. Managing volatility thus requires institutions that promote domestic financial stability, ensure that domestic instability...
Persistent link: https://www.econbiz.de/10003859812
This paper investigates the interdependence between the Vietnamese stock market and other influential stock markets in terms of return linkage and volatility transmission covering the period including pre, during and post the 2008 Global Financial Crisis. A VAR model is used to estimate the...
Persistent link: https://www.econbiz.de/10012968438
model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and …
Persistent link: https://www.econbiz.de/10013028690
We empirically investigate the relationship between expected stock returns and volatility in the twelve EMU countries as well as five major out of EMU international stock markets. The sample period starts from December 1992 until December 2007 i.e. up to the recent financial crisis. Empirical...
Persistent link: https://www.econbiz.de/10013091908