Credit Market Quality, Innovation and Trade
نویسندگان
چکیده
منابع مشابه
Credit Market Frictions and the Amplification - Persistence Trade - off
The issue of how endogenous borrowing constraints lead to the amplification and persistence of aggregate shocks is revisited in this paper. Specifically, I show that an amplification-persistence trade-off is embodied in the setting proposed by Kiyotaki and Moore (1997). The key point is that while complex unit roots associated with persistence of temporary shocks require the fraction of creditc...
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On September 4, 2002, the SEC implemented a de minimis exemption to the trade-through rule for three active ETFs, allowing markets to execute trades at prices up to three cents worse than those posted elsewhere. Relaxing the trade-through rule does not worsen ETF market quality. Effective and realized spreads are essentially unchanged or slightly smaller post-event, and prices become slightly m...
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ژورنال
عنوان ژورنال: Revue économique
سال: 2020
ISSN: 0035-2764,1950-6694
DOI: 10.3917/reco.715.0773