This paper presents estimates of the impact of exchange rate movements on the industry-level price of investment goods using a panel of OECD countries. An exchange rate depreciation (appreciation) causes a significant rise (fall) in the prices of the investment goods used by most industries, but the magnitude of this effect differs greatly across sectors. A currency depreciation causes a strong...

A stock exchange is an entity which provides ‘‘trading’’ facilities for stock brokers and traders to trade stocks and other securities. How to invest in stock exchange is one of the important issues in investment, and one of the factors that can help investors in the process of investment is the efficiency of the corporation under consideration. Data envelopment analysis is a mathematical method...

We examine the role of nontraded goods in the city real exchange rate changes in India. Using the Mean Squared Error (MSE) decomposition we …nd that nontraded goods explain about 30% of the variation of the Indian city real exchange rate changes, rather than the small amount found in other cross-country studies. We also analyze the role of consumption elasticity of substitution between traded a...

I develop a dynamic general equilibrium model of exchange traded funds (ETFs) that accounts for the two-tier ETF market structure with both a centralized exchange (secondary market) and a creation/redemption mechanism (primary market) operating through marketmaking firms known as Authorized Participants (APs). The model is tractable and allows for any number of ETFs and basket securities. I sho...

Despite integration of financial and goods markets, borders still impose considerable friction on the flow of goods. This paper shows that a decline in output shock variance might increase the time of mean reversion despite declining border frictions. We estimate these frictions and determinants of mean reversion using a novel measure of the real exchange rate for productive capabilities. Our e...

This paper studies the role of exchange policies as a price discrimination device in a sequential screening model with heterogeneous goods. In the rst period, agents are uncertain about their ordinal preferences over a set of horizontally di erentiated goods, but have private information about their intensity of preferences. In the second period, each individual privately learns his preferences...

The duty of risk disclosure in medical treatment contracts is examined first through comparison with securities exchange contracts, second, by examining the contract as dealt in judicial precedent, ensued by an analysis and proposal by the author. In both types of contracts, the number of judicial judgments finding for the plaintiff based solely on violation of the duty of risk disclosure is in...

Assessing the probabilities of future events is a problem often faced by science policymakers. For example, CERN, the European laboratory for particle physics, recently had to judge whether the probability of discovering a Higgs boson was high enough to justify extending the operation of its collider (see Science, 22 Sept., p. 2014 and 29 Sept., p. 2260). At the Foresight Exchange (FX) Web site...

exchange rate pass-through to the price of traded goods is one of the important issues in economy of developing countries such as iran and affects the efficiency of the exchange rate policies to improve the trade balance. the main aim of this paper is to empirically analyze exchange rate pass-through to iran's saffron export price using panel data for twenty destination markets during 2000...