Rent Extraction with Securities Plus Cash

Shortening the Securities and Cash Settlement Cycle

Bringing efficiency to the entire trade lifecycle is the key to decreasing risk. With increased cross border trade activities, the post trade process continues to be complex and challenging for investment firms due to lack of harmonization in market practices. Despite technology advances and business process improvements, there are inefficiencies in the settlement process leading to trade and s...

Rent Extraction by Capitalists

The capital income share exceeds the capital output elasticity if capital owners extract rents. Based on a sample of 111 countries during the period 1970-2010, this paper provides estimates of the capital output elasticity and compares these to countries' capital income shares. Three findings arise: (i) for the average country in the sample, the capital income share significantly exceeds the ca...

Rent Extraction with Rich Type Spaces∗

We characterize Revenue Maximizing Mechanisms in auction settings with `rich' type spaces where bidders obtain information from sources other than their own valuation. The focus of the paper is on the concept of weak Bayes-Nash implementation. By considering a relaxed problem, we provide an upper bound on Revenue Extraction that explicitly builds upon the richness of the information structure. ...

Outlook for Indiana Farmland Values and Cash Rent

The June 1999 Purdue Land Value Survey reported a reduction in land values for all classes of land. Given the low grain and livestock prices at the time, a decline in land values was not a surprise. However, in spite of continued low grain prices, the June 2000 Purdue Land Value Survey reported an increase in value for all land classes. Top-quality land had an estimated value of $2,715 per acre...

The Planting Real Option in Cash Rent Valuation