No guarantees, no trade: How banks affect export patterns
نویسندگان
چکیده
منابع مشابه
No trade
We investigate a common value bilateral bargaining model with two sided private information and no aggregate uncertainty. A seller owns an asset whose common valuation is a deterministic function of the two tradersprivate signals. We rst establish a no-trade theorem for this environment, and proceed to study the e¤ect of the asset valuation structure and the trading mechanism on extent to whi...
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We test the no-trade theorem in a laboratory financial market where subjects can trade an asset whose value is unknown. Subjects receive clues on the asset value and then set a bid and an ask at which they are willing to buy or to sell from the other participants. In treatments with no gains from trade, we should observe no trading activity, whereas, in treatments with gains, trade becomes theo...
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ژورنال
عنوان ژورنال: Journal of International Economics
سال: 2017
ISSN: 0022-1996
DOI: 10.1016/j.jinteco.2017.07.007