restricted by federal and state laws from expanding across state lines. We examine whether bank merger prices were higher or … well as those that may provide some diversification benefits, are offered higher prices.> We find that changes in the … regulatory environment had a significant impact on bank merger activities in general, and bank merger prices in particular. For …

across the states for more timely evidence of a change in this relationship. We find some evidence that the elasticity of …

last price change. This reflects differences over time in the flexibility of prices charged by a single store for a given … substantially differs from the average of other stores. However, extreme prices typically reflect the selling store's recent nominal … adjustments rather than changes in other stores' prices. …

Implied probability density functions (PDFs) estimated from cross-sections of observed options prices are gaining … prices by no more than a half tick provide a lower bound on the confidence intervals of the summary statistics derived from …

Cross-sections of option prices embed the risk-neutral probability densities functions (PDFs) for the future values of … implied in option prices. Using FTSE 100 and S&P 500 options, and both power and exponential utility functions, we show that …

prices as an information variable for monetary policy implementation. A set of option prices provides us with information on … prices on stock prices and long term government bond futures. The estimation is done for a sample of daily closing prices for …

Suppose the nominal money supply could be cut literally overnight by, say, 20%. What would happen to prices, wages …, output? The answer can be found in 1720s France, where just such an experiment was carried out, repeatedly. Prices adjusted … instantaneously and fully on one market only, that for foreign exchange. Prices on other markets (such as commodities) as well as …

in option prices. Consumption and dividends remain smooth, and the model is consistent with salient features of …