We introduce and study the following exchange market mechanism problem without money: consider a set of agents who wish to obtain a set of items, and have a set of items to offer to others. An exchange market mechanism specifies for each agent a subset of items to give away, and another subset of items that he would receive in exchange. Each agent would like to maximize the number of items he r...

We estimate the exposure of emerging-market companies to fluctuations in their domestic exchange rates. We use an instrumental-variable approach that identifies the total exposure of a company to exchange-rate movements, yet abstracts from the influence of confounding macroeconomic shocks. We find the impact of depreciations on emerging-market stock returns is overwhelmingly negative. Since we ...

The National Organ Transplant Act of 1984 makes it illegal to buy or sell a kidney in the US, thus making donation the only viable option for kidney transplantation. A transplanted kidney from a live donor survives significantly longer than one from a deceased donor (see e.g. Mandal et al. 2003). Hence, live donation is always the first choice for a patient. Moreover, there is a significant sho...

Most markets are restricted in their spatial size by transportation costs, physical barriers, institutional impediments and differing exchange conventions. Yet, if price differences across those boundaries substantially exceed the cost of surmounting the barriers, tremendous pressure arises to facilitate exchange. So too where electricity markets are defined by operating control areas for relia...

the main objective of this article is to present a comparative study of capital assets pricing models (capm) with extrapolating capital assets pricing models (x-capm) of companies admitted in tehran exchange market which is accomplished for the first time by investigators of this research in iran. accordingly, the statistical population under study of this research includes all companies admitt...

Numerous academic studies examine equity risk premium predictability based on various macroeconomic variables and price and volume based variables from stock market. In this article, we extend the frontier of the set of predictors from macroeconomic variables and stock market variables to foreign exchange market variables due to various reasons. Firstly, foreign exchange market reflects various...

One of the important socioeconomic tasks of governments is regulation. Regulation literature focuses on government intervention in the market for regulating the amount of production and distribution of a commodity, which can lead to the determination of the structure and rules governing the market. A commodities exchange is one of the most important regulatory agencies, which, by providing a co...