Mobile Collateral versus Immobile Collateral -- by Gary Gorton, Tyler Muir
In the face of the Lucas Critique, economic history can be used to evaluate policy. We use the experience of the U.S. National Banking Era to evaluate the most important bank regulation to emerge from...
View ArticleReal Interest Rates, Imbalances and the Curse of Regional Safe Asset...
The current environment is characterized by low real rates and by policy rates close to or at their lower bound in all major financial areas. We analyze these unusual economic conditions from a...
View ArticleThe Perils of Top-down State Building: Evidence from Colombia's False...
How should a state which lacks the monopoly of violence go about acquiring it? We investigate the use of high-powered incentives for members of the Colombian army as part of a strategy to combat...
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Federal Reserve Governor Lael Brainard, At the Chicago Council On Global...
Watch live: https://www.thechicagocouncil.org/event/economic-outlook-and-monetary-policy-implications read more...
View ArticleSingapore And Switzerland To Expand Cooperation On FinTech
The Monetary Authority of Singapore (MAS) and the Swiss Financial Market Supervisory Authority (FINMA) signed a cooperation agreement to foster greater cooperation on FinTech. This initiative was...
View ArticleISDA Publishes New Academic Paper On Single-Name CDS Market
A new academic literature review commissioned by the International Swaps and Derivatives Association, Inc. (ISDA) and published today shows that single-name credit default swaps (CDS) remain an...
View ArticleU.S. Corporate And Municipal Debt Issuance Poised To Climb, CUSIP Data Shows...
CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for August 2016. The report, which tracks the issuance of new security identifiers as an early indicator of...
View ArticleIFDP 2016-1179: Learning in the Oil Futures Markets: Evidence and...
Sylvain Leduc, Kevin Moran and Robert J. Vigfusson | We show that a model where investors learn about the persistence of oil-price movements accounts well for the fluctuations in oil-price futures...
View ArticleFederal Court in North Carolina Orders James A. Shepherd and His Company,...
The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Robert J. Conrad, Jr. of the U.S. District Court for the Western District of North Carolina entered a Final Judgment and...
View ArticleFederal Court In North Carolina Orders James A. Shepherd And His Company,...
The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Robert J. Conrad, Jr. of the U.S. District Court for the Western District of North Carolina entered a Final Judgment and...
View ArticleTFG Financial Systems Wins Five New Mandates From Hedge Funds And Banks In Q3
TFG Financial Systems, the specialist provider of real time risk monitoring solutions to investment managers, has reported increased interest in its applications from a broad range of clients in the...
View ArticleNasdaq Announces End-Of-Month Open Short Interest Positions In Nasdaq Stocks...
At the end of the settlement date of August 31, 2016, short interest in 2,329 Nasdaq Global MarketSM securities totaled 7,371,196,258 shares compared with 7,501,329,605 shares in 2,334 Global...
View ArticleThe Informational Content of the Limit Order Book: An Empirical Study of...
In this paper I empirically investigate prediction markets for binary options. Advocates of prediction markets have suggested that asset prices are consistent estimators of the "true" probability of a...
View ArticleFinite-sample and asymptotic analysis of generalization ability with an...
In this paper, we study the generalization ability (GA)---the ability of a model to predict outcomes in new samples from the same population---of the extremum estimators. By adapting the classical...
View ArticleThe Solution to Science's Replication Crisis. (arXiv:1609.03223v1 [q-fin.EC])
The solution to science's replication crisis is a new ecosystem in which scientists sell what they learn from their research. In each pairwise transaction, the information seller makes (loses) money if...
View ArticleCovariance of random stock prices in the Stochastic Dividend Discount Model....
Dividend discount models have been developed in a deterministic setting. Some authors (Hurley and Johnson, 1994 and 1998; Yao, 1997) have introduced randomness in terms of stochastic growth rates,...
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Japan Exchange Group: Latest Update Of Deliverable Bonds And Conversion...
Deliverable bonds and conversion factors of JGB Futures (5-year, 10-year & 20-year)read more...
View ArticleASIC: Westpac Refunds $9.2 Million After Failing To Waive Bank Account Fees...
Westpac Banking Corporation (Westpac) has refunded approximately $9.2 million to 161,414 customers after it failed to waive fees on Westpac and St. George branded savings and transaction accounts over...
View ArticleColt Adds Low-Latency TOCOM Market Data Feeds - New Data Feed To Coincide...
Colt announced today that it has become a market data provider for the Tokyo Commodity Exchange (TOCOM), with the service set to launch alongside the scheduled migration of TOCOM’s derivatives trading...
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