This paper reports on a research effort designed to begin to systematically identify the most critical computing and information technology-related challenges facing financial market regulation activities. Computing and infor-mation technology adaptation in financial markets create a paradox. Information technology is needed for effective governing of financial markets, yet advances in informat...

Accounting regulators on both sides of the Atlantic are working towards global convergence of U.S. and international accounting standards by 2005. One of the areas that the regulators have identified as a necessary requirement for convergence is the treatment of financial instruments such as derivatives. In the U.S., the Financial Accounting Standards Board (FASB) released Statement of Financia...

I develop a general equilibrium model in which the quality of household financial decisions is endogenously determined by the incentives to exert effort in learning about financial opportunities. The model generates predictions for asset market participation and returns across households. Moreover, search for financial returns enables the model to generate a more skewed equilibrium wealth distr...

A generalised search model with matching on product, labour and financial markets is presented in order to analyse the impact of market frictions on the pass-through of shocks. The model includes an endogenous demand for money that arises from matching frictions on the financial market. Moreover, price posting on retail markets allows to establish a forward-looking Search Phillips Curve. The mo...

In this paper, we test the real interest parity, uncovered interest parity, and purchasing power parity (PPP) for China against the US, European Union, the UK, and Japan. The real interest parity is an aggregate measure of economic integration, which can be decomposed into the integration of two major markets: the financial market and the goods market. The integration of each market can be furt...

economic recession is considered as a repeatable and constant phenomenon in capitalist economy. countries which experienced rapid economic growth have inevitably applied a balancing program after that. generally, whenever industrial, financial and commercial developments occurred in a rapid growth, the reverse and changing processes would appear. consequently, they will affect the financial and...

Changes in the prices of aluminium and copper are often closely aligned with changes in global industrial production, but also reflect market specific events, compliment and substitute relationships between the physical metals in production, and financial market type influences. Brunetti and Gilbert [1995] characterise two sources of volatility in non-ferrous metals markets, those related to fi...

The fixed income (FI) market is a financial market where debt securities are traded commonly in the form of bonds. Unlike equity securities which are traded on exchanges, the debt securities are primarily traded in over-the-counter (OTC) markets. While the use of electronic trading systems in the fixed income market is growing, the majority of the FI market is still driven by broker-dealer rela...