Now showing items 31-40 of 240
Competitors In Merger Control
Shall They Be Merely Heard Or Also Listened To?
There are legal grounds to hear competitors in merger control proceedings, and competitor involvement has gained significance. To what extent this is economically sensible is our question. The competition authority applies ...
Pitfalls and Perils of Financial Innovation
The Use of CDS by Corporate Bond Funds
We use the financial crisis of 2007–2009 as a laboratory to examine the costs and benefits of teams versus single managers in asset management. We find that when a fund uses complex trading strategies involving the use ...
From Galloping Inflation toPrice Stability inSteps
After the introduction of a stabilization program Israeli inflation decreased from 400% in 1985 to 2% in 2013. This paper analyzes how the remarkable transition process of Israel’s disinflation took place. We reinforce the ...
Common price andvolatility jumps in noisyhigh-frequency data
We introduce a statistical test for simultaneous jumps in the price of a financial asset and its volatility process. The proposed test is based on high-frequency tick-data and is robust to market microstructure frictions. ...