James Dow , Jungsuk Han Francesco Sangiorgi Jun 24,2024
Working Paper No.00140-00
Will arbitrage capital flow into markets experiencing shocks, mitigating adverse effects on price efficiency? Not necessarily. In a dynamic model... Read More
Orestis Vravosinos, Xavier Vives Aug 01,2024
Working Paper No.00130-02
We examine the effects of overlapping ownership among existing firms deciding whether to enter a product market. We show that... Read More
Zhiqiang Ye, Xavier Vives Aug 01,2024
Working Paper No.00129-01
We study how information technology (IT) affects lender competition, entrepreneurs’ investment, and welfare in a spatial model. The effects of... Read More
Zhiqiang Ye, Xavier Vives Aug 01,2024
Working Paper No.00141-00
We study fintech entry and how it affects competition, investment, and welfare in a spatial model. We find that fintechs... Read More
Alexander Ober, Patrick Blonien Sep 02,2024
Working Paper No.00142-00
Are daily market closures still needed? In a model of large traders who manage inventory risk, we show that even... Read More
Douglas Xu, Shiyang Huang Lin William Cong (叢林) Nov 21,2024
Working Paper No.00133-01
We model financial innovations such as Exchange-Traded Funds, smart beta products, and many index-based vehicles as composite securities (CSs) that... Read More
Qing Chang,Longtian Zhang,Liyong Wang, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00135-01
We build a tractable general equilibrium model to analyze the effects of cross-border data flows and pre-existing development gaps in... Read More
Xiaohong Huang,Siguang Li,Jian Ni, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00143-00
We revisit the relationship between firm competition and real efficiency in a novel setting with informational feedback from financial markets.... Read More
Yuanyu Qu,Guojun Wang, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00144-00
We present the first piece of empirical evidence on blockchain adoption for environmental monitoring. Using a staggered difference-in-difference (DID) framework,... Read More
Satoshi Fukuda, Daniel Neuhann William Fuchs Nov 22,2024
Working Paper No.00145-00
We study the joint design of two prominent micro-prudential policy tools: bank regulation that enforces operational standards via rules,... Read More