Liquidity Effects and Transactions Technologies
نویسندگان
چکیده
منابع مشابه
Liquidity Effects
Much of the conventional wisdom stems from Friedman’s (1968a; 1968b) informal discussions and Cagan’s (1972) reduced-form evidence on how nominal interest rates respond to a permanent change in money growth. According to that wisdom, the interest rate response is broken into a “short-run,” a “medium-run,” and a “long-run” response. In the short run, when wages, prices, and portfolios do not adj...
متن کاملThe Nature and Ethical Effects of Options in Electronic Transactions
Background: Electronic transactions are another form of transactions that are done through electronic tools such as mobile phones, computers, tablets, etc. Considering the synchronization of Iranchr('39')s economic system with the world and meeting the needs of the day, ensuring the correct conclusion of electronic transactions with the correct and ethical use of options is explored. The presen...
متن کاملPortfolio Choice and the Effects of Liquidity
This paper discusses how to introduce liquidity into the well known mean-variance framework of portfolio selection using a representative sample of Spanish equity portfolios. Either by estimating mean-variance liquidity constrained frontiers or directly estimating optimal portfolios for alternative levels of risk aversion and preference for liquidity, we obtain strong effects of liquidity on op...
متن کاملLiquidity Effects of Trading Frequency
In this work, we present a discrete time modeling framework, in which the shape and dynamics of a Limit Order Book (LOB) arise endogenously from an equilibrium between multiple market participants (agents). We use the proposed modeling framework to analyze the effects of trading frequency on market liquidity in a very general setting. In particular, we demonstrate the dual effect of high tradin...
متن کاملModelling liquidity and its effects on price
After credit risk, liquidity risk is probably the next most important risk faced by the finance industry; and yet the study of liquidity is far less advanced. This may be in part due to the fact that there is no agreed definition of what liquidity is, even in qualitative terms; everyone would agree that the effect of illiquidity is to make it difficult or costly to trade large volumes of the un...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Money, Credit and Banking
سال: 1995
ISSN: 0022-2879
DOI: 10.2307/2078062