We examine a monetary economy wherein endogenous asset market segmentation permits the extent of household participation in open market operations to smoothly vary with changes in aggregate conditions. While we impose no stickiness at the microeconomic level in either prices or portfolio adjustment, we …nd that our ‡exible asset market segmentation can deliver gradual adjustment in the aggregat...

the purpose of this study was critical understanding of economic consequences of emergence and development of border market from the view point of perception, interpretation and experience of the people. in fact, cross-border market in kurdish regions has developed after the changes happened in iraq in last decades. hence, the study of the consequences of emergence and development of these type...

The paper examines the extent to which the conditional volatility of stock market returns in a small, internationally integrated stock market are related to the conditional volatility of financial and business cycle variables. It employs a low frequency monthly dataset for Australia including stock market returns, interest rates, inflation, the money supply, industrial production and the curren...