Search results for "stock"
showing 10 items of 878 documents
Storia d'altre storie. Le avanguardie del secondo dopoguerra e "Jeux" di Debussy
2007
La composizione "Jeux" di Debussy, trascurata nella prima metà del Novecento, diventa nel corso degli anni Cinquanta un banco di prova delle teorie compositive dei protagonisti delle avanguardie musicali del dopoguerra, ognuno dei quali, proprio in base alle personali concezioni estetiche, dà una dell'opera del compositore francese una lettura fortemente divergente dalle altre.
A Partial Equilibrium Model of Option Markets
2000
This paper addresses the questions who is buying and who is selling options on a stock, the optimal position to hold, and how this affects the price. The individual demand functions and the equilibrium allocation are derived using an asymptotically valid expansion. Trading occurs only at discrete dates; the option does not have to complete the market. The paper also discusses the conditions under which trade results, the importance of heterogeneity for trade, when preferences become irrelevant to price options, and the case in which there is only a spanning demand, but no risk-sharing demand in options.
The main reforms of the Spanish financial system
2012
This chapter aims to explore how the main legislation affecting the Spanish financial system evolved over the course of the 20th century. In terms of legislative developments, four main periods can be distinguished: the period from the early legislation in 1856 up until 1920; from 1920 through to the Civil War in 1936; Francoism from 1939 to 1975; and, finally, the phase of deregulation between 1975 and 2000. After a short introduction, we will examine below the first three of these four phases in chronological order.
Description of the limit set of Henstock–Kurzweil integral sums of vector-valued functions
2015
Abstract Let f be a function defined on [ 0 , 1 ] and taking values in a Banach space X . We show that the limit set I HK ( f ) of Henstock–Kurzweil integral sums is non-empty and convex when the function f has an integrable majorant and X is separable. In the same setting we give a complete description of the limit set.
A decomposition theorem for compact-valued Henstock integral
2006
We prove that if X is a separable Banach space, then a measurable multifunction Γ : [0, 1] → ck(X) is Henstock integrable if and only if Γ can be represented as Γ = G + f, where G : [0, 1] → ck(X) is McShane integrable and f is a Henstock integrable selection of Γ.
Henstock–Kurzweil–Pettis integrability of compact valued multifunctions with values in an arbitrary Banach space
2013
Abstract The aim of this paper is to describe Henstock–Kurzweil–Pettis (HKP) integrable compact valued multifunctions. Such characterizations are known in case of functions (see Di Piazza and Musial (2006) [16] ). It is also known (see Di Piazza and Musial (2010) [19] ) that each HKP-integrable compact valued multifunction can be represented as a sum of a Pettis integrable multifunction and of an HKP-integrable function. Invoking to that decomposition, we present a pure topological characterization of integrability. Having applied the above results, we obtain two convergence theorems, that generalize results known for HKP-integrable functions. We emphasize also the special role played in …
Decomposability in the space ofHKP-integrable functions
2014
In this paper we introduce the notion of decomposability in the space of Henstock-Kurzweil-Pettis integrable (for short HKP-integrable) functions. We show representations theorems for decomposable sets of HKP-integrable or Henstock integrable functions, in terms of the family of selections of suitable multifunctions.
A Decomposition Theorem for the Fuzzy Henstock Integral
2012
We study the fuzzy Henstock and the fuzzy McShane integrals for fuzzy-number valued functions. The main purpose of this paper is to establish the following decomposition theorem: a fuzzy-number valued function is fuzzy Henstock integrable if and only if it can be represented as a sum of a fuzzy McShane integrable fuzzy-number valued function and of a fuzzy Henstock integrable fuzzy number valued function generated by a Henstock integrable function.
U.S. stock prices and macroeconomic fundamentals: Fresh evidence using the quantile ARDL approach
2020
This paper explores the long‐run relationship and the associated short‐run dynamics between the U.S. stock market and three major macroeconomic fundamentals, namely the U.S. industrial production index, the U.S. 10‐year Treasury bond yield and the West Texas Intermediate oil price, for the time period covering 1985–2015. The quantile autoregressive distributed lag (QARDL) model presented by Cho et al. (2015) Journal of Econometrics, 188, 281–300, which combines the autoregressive distributed lag model of Pesaran and Shin (1998), Cambridge University Press, and Pesaran et al. (2001) Journal of Applied Econometrics, 16, 289–326, and the quantile regression methodology of Koenker and Bassett (…
Uninformed Traders in European Stock Markets
2010
A fully informed agent bets with an uninformed over the capital gains of an asset. A divide-and-choose idea is adapted to induce both trade and revelation of information, but in equlibrium the uninformed buys high and sells low if he is downside risk averse. The result may be seen as an informed-price-maker counterpart of some findings of Glosten-Milgrom (1985) and Kyle (1985) on uninformed agents trading in financial markets.