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Political Instability and Untimely Dissolution:Partnerships,Corporations,and the Mexican Revolution,1910-1929
Partnerships Political Instability Revolution
2015/4/22
This paper is part of a broader research project on the economic impact of the Mexican Revolution. In this article we make an initial approximation of the effect of the Revolution on the lifespan of c...
Indonesia seems perpetually condemned to “live in interesting times,” as the famous Chinese curse goes. The past decade has seen the country attract global notoriety as a land of recurrent economic sh...
Consistent Factor Estimation in Dynamic Factor Models with Structural Instability
Factor Estimation Dynamic Factor Models Structural Instability
2014/3/18
This paper considers the estimation of approximate dynamic factor models when there is temporal instability in the factor loadings. We characterize the type and magnitude of instabilities under which ...
We study the emergence of instabilities in a stylized model of a nancial market, when di erent market actors calculate prices according to di erent (local)
market measures. We derive typical propert...
Double Exponential Instability of Triangular Arbitrage Systems
Limits to arbitrage Recurrent sequences Matrix products Asynchronous systems
2012/4/28
This paper investigates arbitrage chains involving d currencies and d foreign exchange trader-arbitrageurs. The commonly recognized belief in economics and finance is that arbitrage has the effect of ...
Central Banks as Sources of Financial Instability
CENTRAL banks & banking BANKING industry Depository Credit Intermediation Activities Related to Credit Intermediation
2011/9/26
In this article the author presents an argument to show that central banks have a destabilizing effect on economies rather than the traditional view that they have a stabilizing capacity. The article ...
The Current Financial Crisis, Monetary Policy, and Minsky's Structural Instability Hypothesis
central banking financial crisis, minsky monetary policy securitization structural instability.
2011/8/21
The object of this work is to evaluate the monetary policy issues that arose during the financial crisis of 2007-8 according to Minsky's thought. It is argued that Minsky's idea of structural instabil...
Institutions and Instability in Africa: Nigeria, Sudan, and Reflections from Mises's Nation, State and Economy
Africa Nigeria Sudan Economy
2009/7/23
In recent years as part of development economics discourse a new emphasis
has emerged dealing with institutions and economic development. One path of the institutional
analysis has drawn on historic...
Spiraling toward market completeness and financial instability
Spiraling completeness financial instability
2010/11/1
I study the limit of a large random economy, where a set of consumers invests in financial instruments engineered by banks, in order to optimize their future consumption.This exercise shows that, even...
Credit derivatives: instruments of hedging and factors of instability. The example of ?Credit Default Swaps? on French reference entities
credit derivatives credit risk credit default swap inter-temporal relations between markets
2010/11/3
Through a long-period analysis of the inter-temporal relations between the French markets for credit default swaps (CDS), shares and bonds between 2001 and 2008, this article shows how a financial inn...
Market Instability and Economic Complexity: Theoretical Lessons from Transition Experiments
2007/8/13
Ping Chen, "Market Instability and Economic Complexity: Theoretical Lessons from Transition Experiments," in Yang Yao and Linda Yueh eds., Globalisation and Economic Growth in China, Chapter 3,pp.35-5...
Evidence on Structural Instability in Macroeconomic Time Series Relations
Break tests Forecasting Recursive least squares Structural stability Time- varying parameter
2014/3/18
An experiment is performed to assess the prevalence of instability in univariate and bivariate macroeconomic time series relations and to ascertain whether various adaptive forecasting t...