In interim economies with asymmetric information, we show that the coarse core of Wilson (1978) does not converge to price equilibrium allocations as the economy is replicated. This failure of core convergence is a basic consequence of asymmetric information and extends to any reasonable notion of either (interim) core or price equilibrium. JEL Classification: C71, D51

This study analyzes the causal relationship between oil prices and production costs their implication over hedging in companies. Two different data sets have been used as a proxy for costs: i) monthly product price index related to activities from Bureau of Labour Statistics; ii) yearly obtained reports publicly traded For price, future contracts Brent (1M, 12M, 24M, 60M) explored. Based on Gra...

This article sheds light on the question of whether it is possible to create fairly accurate forecasts real oil prices. For this purpose, a multi-level machine learning model has been created analyze several sources heterogeneous data predict future The uses different types data: market condition data, titles, and transaction data. Then, they have processed be able load them into model. validat...

Based on a structural vector autoregressive framework the monthly data from April 1997 to July 2016, this study is an attempt show impact of crude oil price rate inflation and economic growth in India. The results showed that has positive whereas inverse relation exists between growth. Further, we segregated into two components, is, negative partial sum through nonlinear asymmetric distribution...

The Journal of Economic Literature codes classification system (JEL) published by the American Association (AEA) is de facto standard for research literature in economics. JEL used to classify articles, dissertations, books, book reviews, and working papers EconLit, a database maintained AEA. Over time, it has evolved extended with over 850 subclasses. This paper reviews history development sys...

In a financial market with a continuous price process and proportional transaction costs we investigate the problem of utility maximization of terminal wealth. We give sufficient conditions for the existence of a shadow price process, i.e. a least favorable frictionless market leading to the same optimal strategy and utility as in the original market under transaction costs. The crucial ingredi...

The study examines the asymmetric effect of oil price on exchange rate and stock using Nonlinear Autoregressive Distributive Lag (NARDL) technique time-series data spanning from January 1996 to September 2020. multivariate cointegration test showed evidence a long-run relationship among price, rate, price. linear Granger causality that is granger caused by cause rate. nonlinear nonlinearity BDS...

This paper evaluates the weak-form efficiency of the crude oil markets using the artificial neural network (ANN) model. Based on the daily historical data of the West Texas Intermediate (WTI) crude oil spot price over the period (02 January 198631 December 2013), the model was trained using backpropagation algorithm. The output of the neural network represents the predicted prices which are con...

This paper proposes a price index for artists based on the ratio between the average market price and the average estimated price of the paintings sold by an artist each year, adjusted for market dynamics. We apply this methodology to a group of selected artists and schools drawing from a database including auction prices and estimated prices of paintings presented in auctions world wide betwee...

This paper compares two types of monetary policy: price-level targeting and inflation targeting. It reviews recent arguments that favour price-level targeting, and examines how certain factors, such as the nature of the shocks affecting the economy and the degree to which agents are forwardlooking, bear upon the arguments. The paper then extends the analysis to a small open economy such as Cana...