منابع مشابه
Financial Markets and Wages
We study a labour market equilibrium model in which firms sign optimal long-term contracts with workers. Firms that are financially constrained offer an increasing wage profile: they pay lower wages today in exchange for higher future wages once they become unconstrained. Because constrained firms grow faster, the model predicts a positive correlation between the growth of wages and the growth ...
متن کاملDynamic Correlation between Oil Markets and Financial Markets and Oil and Petrochemical Industries in Iran
In this paper we study the effect of volatility in Brent oil prices on the important indices of financial markets in Iran, as well as the return on gold, from 2008 to 2018 using the Multivariate Exponential GARCH Model (MVEGARCH). We also use the ADCC-FIGARCH model to examine the asymmetric dynamic conditional correlation between Brent oil prices and financial markets in Iran. The results of th...
متن کاملBureaucracy and Financial Markets
2 Abstract Recent research on financial market development has focused on the nature of the legal system. The law and finance literature, however, exclusively focuses on the abuse of management power as a major cause of shareholder expropriation. We examine the role of the administrative capability of the state in providing and guaranteeing the institutional foundations for securities developme...
متن کاملEnvironment and Financial Markets
We propose to put the environment into financial markets. We shall explain how to do it, and why the financial approach is practically the only one able to stop and invert environmental degradation. We shall concentrate on deforestation, which is the largest environmental problem in the third world, and explain how to start the project and what kind of optimization problems should be solved to ...
متن کاملFinancial Intermediaries and Markets
A complex financial system comprises both financial markets and financial intermediaries. We distinguish financial intermediaries according to whether they issue complete contingent contracts or incomplete contracts. Intermediaries such as banks that issue incomplete contracts, e.g., demand deposits, are subject to runs, but this does not imply a market failure. A sophisticated financial system...
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ژورنال
عنوان ژورنال: Review of Economic Studies
سال: 2009
ISSN: 0034-6527,1467-937X
DOI: 10.1111/j.1467-937x.2008.00524.x