transaction costs
FINANCIAL INTEGRATION AND ASSET RETURNS
by: samanta, 37 pagesThe Paper investigates the impact of financial integration on asset return, risk diversification and breadth of financial markets. We analyse a three-country macroeconomic model in which i) the ...
Financial super-markets: size matters for asset trade
by: samanta, 27 pagesEmpirically, demand and market size effects play an important role for international trade in assets and the determination of asset prices. Financial integration decreases the cost of capital, asset ...
Transaction Costs and the Robustness of the Coase Theorem
by: samanta, 36 pagesThis paper explores the extent to which the presence of ex- ante transaction costs may lead to failures of the Coase Theorem. In particular we identify and investigate the basic'hold-up problem'which ...
Transaction costs and forest management carbon offset potential
by: samanta, 16 pagesTransaction costs are one of the key challenges that private forest landowners may face in participating in emerging carbon markets. As most forestlands in the United States occur in the form of ...
Transaction Costs and Asset Prices: ADynamic Equilibrium Model
by: samanta, 66 pagesIn this paper we study theeectsof transaction costs on asset prices. We assume an overlapping generations economy with a riskless, liquid bond, and many risky stocks carrying proportional transaction ...
Transaction Costs and Informational Cascades in Financial Markets
by: samanta, 29 pagesWe study the effect of transaction costs (e.g., a trading fee ora transaction tax, like the To bin tax) on the aggregation of private information in financial markets. We implement a financial market ...
Transaction costs and predictability: some utility cost calculations
by: samanta, 32 pagesWe examine the loss inutility fora consumer who ignores any or all of the following: (1) the multi-period nature of the consumer 'sportfolio-choice problem, (2) the empirically documented ...
Measuring Transaction Costs and Institutional Change in the U.S. Commercial Banking Industry
by: samanta, 41 pagesThere has been considerable theorizing in the new institutional economics about the relationship between transaction costs and institutional change. However, there have been few attempts to measure ...
Liquidity, Transaction Costs, and Reintermediation in Electronic Markets
by: samanta, 30 pagesThe central theme of this paper is the relationship between trading cost, technology, and the nature of intermediation in the trading services industry. Electronic markets embodying automated trade ...
Transaction Costs, Money and Units of Account
by: samanta, 27 pagesIn the paper, an analogy with length measurement is applied in order to explore the nature of the unit for value measurement, i.e. the unit of account. As the meter is defined as the length traveled ...
