1,718 results on '"Marti G"'
Search Results
152. Multivariate Binomial Approximations for Asset Prices with Nonstationary Variance and Covariance Characteristics
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Ho, Teng-Suan, Stapleton, Richard C., and Subrahmanyam, Marti G.
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- 1995
153. Intra-Equilibrium and Inter-Equilibrium Analysis in Capital Market Theory: A Clarification
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Brenner, Menachem and Subrahmanyam, Marti G.
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- 1977
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154. A Simple Algorithm for Optimal Portfolio Selection with Fixed Transaction Costs
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Patel, Nitin R. and Subrahmanya, Marti G.
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- 1982
155. A Simple Approach to Option Valuation and Hedging in the Black-Scholes Model
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Brenner, Menachem and Subrahmanyam, Marti G.
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- 1994
156. Arbitrage Opportunities in the Japanese Stock and Futures Markets
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Brenner, Menachem, Subrahmanyam, Marti G., and Uno, Jun
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- 1990
157. A Simple Formula to Compute the Implied Standard Deviation
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Brenner, Menachem and Subrahmanyam, Marti G.
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- 1988
158. The Optimality of a Competitive Stock Market
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Merton, Robert C. and Subrahmanyam, Marti G.
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- 1974
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159. Combination of HIF-1α gene transfection and HIF-1-activated bone marrow-derived angiogenic cell infusion improves burn wound healing in aged mice
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Du, J, Liu, L, Lay, F, Wang, Q, Dou, C, Zhang, X, Hosseini, S M, Simon, A, Rees, D J, Ahmed, A K, Sebastian, R, Sarkar, K, Milner, S, Marti, G P, Semenza, G L, and Harmon, J W
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- 2013
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160. The pricing of marked to market contingent claims in a no arbitrage economy
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Satchell, Stephen E., Stapleton, Richard C. (Richard Christopher), and Subrahmanyam, Marti G.
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- 1997
161. Credit Default Swaps around the World
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Bartram, Söhnke M, primary, Conrad, Jennifer, additional, Lee, Jongsub, additional, and Subrahmanyam, Marti G, additional
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- 2021
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162. Motor abnormalities and basal ganglia in first-episode psychosis (FEP)
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Cuesta M, Lecumberri P, Moreno-Izco L, Lopez-Ilundain J, Ribeiro M, Cabada T, Lorente-Omenaca R, de Erausquin G, Garcia-Marti G, Sanjuan J, Sanchez-Torres A, Gomez M, and Peralta V
- Abstract
BACKGROUND: Motor abnormalities (MAs) are the primary manifestations of schizophrenia. However, the extent to which MAs are related to alterations of subcortical structures remains understudied.; METHODS: We aimed to investigate the associations of MAs and basal ganglia abnormalities in first-episode psychosis (FEP) and healthy controls. Magnetic resonance imaging was performed on 48 right-handed FEP and 23 age-, gender-, handedness-, and educational attainment-matched controls, to obtain basal ganglia shape analysis, diffusion tensor imaging techniques (fractional anisotropy and mean diffusivity), and relaxometry (R2*) to estimate iron load. A comprehensive motor battery was applied including the assessment of parkinsonism, catatonic signs, and neurological soft signs (NSS). A fully automated model-based segmentation algorithm on 1.5T MRI anatomical images and accurate corregistration of diffusion and T2* volumes and R2* was used.; RESULTS: FEP patients showed significant local atrophic changes in left globus pallidus nucleus regarding controls. Hypertrophic changes in left-side caudate were associated with higher scores in sensory integration, and in right accumbens with tremor subscale. FEP patients showed lower fractional anisotropy measures than controls but no significant differences regarding mean diffusivity and iron load of basal ganglia. However, iron load in left basal ganglia and right accumbens correlated significantly with higher extrapyramidal and motor coordination signs in FEP patients.; CONCLUSIONS: Taken together, iron load in left basal ganglia may have a role in the emergence of extrapyramidal signs and NSS of FEP patients and in consequence in the pathophysiology of psychosis.
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- 2021
163. Option Greeks, Insider Trading, and the Heinz Acquisition
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Davide Tomio, Patrick Augustin, Menachem Brenner, and Marti G. Subrahmanyam
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- 2021
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164. Non-Standard Errors
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Leerstoel Stigchel, Helmholtz Institute, Experimental Psychology (onderzoeksprogramma PF), Finance, UU LEG Research UUSE Multidisciplinary Economics, LS Algemene Literatuurwetenschap, Hydrogeology, Sub General Pharmaceutics, Finance and Financial Markets, Menkveld, Albert J., Abudy, Menachem (Meni), Grammig, Joachim, Gregoire, Vincent, Hagströmer, Björn, Hambuckers, Julien, Hapnes, Erik, Harris, Jeffrey H., Harris, Lawrence, Hartmann, Simon, Hasse, Jean-Baptiste, Hautsch, Nikolaus, Adrian, Tobias, He, Xue-Zhong 'Tony', Heath, Davidson, Hediger, Simon, Hendershott, Terrence J., Hibbert, Ann Marie, Hjalmarsson, Erik, Hoelscher, Seth, Hoffmann, Peter, Holden, Craig W., Horenstein, Alex R., Ait-Sahalia, Yacine, Huang, Wenqian, Huang, Da, Hurlin, Christophe, Ivashchenko, Alexey, Iyer, Subramanian R., Jahanshahloo, Hossein, Jalkh, Naji, Jones, Charles M., Jurkatis, Simon, Jylha, Petri, Akmansoy, Olivier, Kaeck, Andreas, Kaiser, Gabriel, Karam, Arzé, Karmaziene, Egle, Kassner, Bernhard, Kaustia, Markku, Kazak, Ekaterina, Kearney, Fearghal, van Kervel, Vincent, Khan, Saad, Alcock, Jamie, Khomyn, Marta, Klein, Tony, Klein, Olga, Klos, Alexander, Koetter, Michael, Krahnen, Jan Pieter, Kolokolov, Aleksey, Korajczyk, Robert A., Kozhan, Roman, Kwan, Amy, Alexeev, Vitali, Lajaunie, Quentin, Lam, Full Yet Eric Campbell, Lambert, Marie, Langlois, Hugues, Lausen, Jens, Lauter, Tobias, Leippold, Markus, Levin, Vladimir, Li, Yijie, Li, (Michael) Hui, Aloosh, Arash, Liew, Chee Yoong, Lindner, Thomas, Linton, Oliver B., Liu, Jiacheng, Liu, Anqi, Llorente-Alvarez, Jesus-Guillermo, Lof, Matthijs, Lohr, Ariel, Longstaff, Francis A., Lopez-Lira, Alejandro, Amato, Livia, Mankad, Shawn, Mano, Nicola, Marchal, Alexis, Martineau, Charles, Mazzola, Francesco, Meloso, Debrah C, Mihet, Roxana, Mohan, Vijay, Moinas, Sophie, Moore, David, Amaya, Diego, Mu, Liangyi, Muravyev, Dmitriy, Murphy, Dermot, Neszveda, Gabor, Neumeier, Christian, Nielsson, Ulf, Nimalendran, Mahendrarajah, Nolte, Sven, Nordén, Lars L., O'Neill, Peter, Angel, James J., Obaid, Khaled, Ødegaard, Bernt Arne, Östberg, Per, Painter, Marcus, Palan, Stefan, Palit, Imon, Park, Andreas, Pascual Gascó, Roberto, Pasquariello, Paolo, Pastor, Lubos, Dreber, Anna, Bach, Amadeus, Patel, Vinay, Patton, Andrew J., Pearson, Neil D., Pelizzon, Loriana, Pelster, Matthias, Pérignon, Christophe, Pfiffer, Cameron, Philip, Richard, Plíhal, Tomáš, Prakash, Puneet, Baidoo, Edwin, Press, Oliver-Alexander, Prodromou, Tina, Putnins, Talis J., Raizada, Gaurav, Rakowski, David A., Ranaldo, Angelo, Regis, Luca, Reitz, Stefan, Renault, Thomas, Wang, Renjie, Bakalli, Gaetan, Renò, Roberto, Riddiough, Steven, Rinne, Kalle, Rintamäki, Paul, Riordan, Ryan, Rittmannsberger, Thomas, Rodríguez Longarela, Iñaki, Rösch, Dominik, Rognone, Lavinia, Roseman, Brian, Barbon, Andrea, Rosu, Ioanid, Roy, Saurabh, Rudolf, Nicolas, Rush, Stephen, Rzayev, Khaladdin, Rzeźnik, Aleksandra, Sanford, Anthony, Sankaran, Harikumar, Sarkar, Asani, Sarno, Lucio, Bashchenko, Oksana, Scaillet, Olivier, Scharnowski, Stefan, Schenk-Hoppé, Klaus Reiner, Schertler, Andrea, Schneider, Michael, Schroeder, Florian, Schürhoff, Norman, Schuster, Philipp, Schwarz, Marco A., Seasholes, Mark S., Bindra, Parampreet Christopher, Seeger, Norman, Shachar, Or, Shkilko, Andriy, Shui, Jessica, Sikic, Mario, Simion, Giorgia, Smales, Lee A., Söderlind, Paul, Sojli, Elvira, Sokolov, Konstantin, Bjonnes, Geir Hoidal, Spokeviciute, Laima, Stefanova, Denitsa, Subrahmanyam, Marti G., Neusüss, Sebastian, Szaszi, Barnabas, Talavera, Oleksandr, Tang, Yuehua, Taylor, Nicholas, Tham, Wing Wah, Theissen, Erik, Black, Jeffrey R., Thimme, Julian, Tonks, Ian, Tran, Hai, Trapin, Luca, Trolle, Anders B., Valente, Giorgio, Van Ness, Robert A., Vasquez, Aurelio, Verousis, Thanos, Verwijmeren, Patrick, Black, Bernard S., Vilhelmsson, Anders, Vilkov, Grigory, Vladimirov, Vladimir, Vogel, Sebastian, Voigt, Stefan, Wagner, Wolf, Walther, Thomas, Weiss, Patrick, van der Wel, Michel, Werner, Ingrid M., Bohorquez, Santiago, Westerholm, P. Joakim, Westheide, Christian, Wipplinger, Evert, Wolf, Michael, Wolff, Christian C. P., Wolk, Leonard, Wong, Wing-Keung, Wrampelmeyer, Jan, Xia, Shuo, Xiu, Dacheng, Holzmeister, Felix, Bondarenko, Oleg, Xu, Ke, Xu, Caihong, Yadav, Pradeep K., Yagüe, José, Yan, Cheng, Yang, Antti, Yoo, Woongsun, Yu, Wenjia, Yu, Shihao, Yueshen, Bart Zhou, Bos, Charles S., Yuferova, Darya, Zamojski, Marcin, Zareei, Abalfazl, Zeisberger, Stefan, Zhang, Sarah, Zhang, Xiaoyu, Zhong, Zhuo, Zhou, Z. Ivy, Zhou, Chen, Zhu, Xingyu, Bosch-Rosa, Ciril, Zoican, Marius, Zwinkels, Remco C.J., Chen, Jian, Duevski, Teodor, Gao, Ge, Gemayel, Roland, Gilder, Dudley, Kuhle, Paul, Pagnotta, Emiliano, Pelli, Michele, Bouri, Elie, Sönksen, Jantje, Zhang, Lu, Ilczuk, Konrad, Bogoev, Dimitar, Qian, Ya, Wika, Hans C., Yu, Yihe, Zhao, Lu, Mi, Michael, Bao, Li, Brownlees, Christian T., Vaduva, Andreea, Prokopczuk, Marcel, Avetikian, Alejandro, Wu, Zhen-Xing, Calamia, Anna, Cao, Viet Nga, Capelle-Blancard, Gunther, Capera, Laura, Caporin, Massimiliano, Huber, Juergen, Carrion, Allen, Caskurlu, Tolga, Chakrabarty, Bidisha, Chernov, Mikhail, Cheung, William Ming Yan, Chincarini, Ludwig B., Chordia, Tarun, Chow, Sheung Chi, Clapham, Benjamin, Colliard, Jean-Edouard, Johanneson, Magnus, Comerton-Forde, Carole, Curran, Edward, Dao, Thong, Dare, Wale, Davies, Ryan J., De Blasis, Riccardo, De Nard, Gianluca, Declerck, Fany, Deev, Oleg, Degryse, Hans, Kirchler, Michael, Deku, Solomon, Desagre, Christophe, Dim, Chukwuma, Dimpfl, Thomas, Dong, Yun Jiang, Drummond, Philip, Dudda, Tom, Dumitrescu, Ariadna, Dyakov, Teodor, Razen, Michael, Dyhrberg, Anne Haubo, Dzieliński, Michał, Eksi, Asli, El Kalak, Izidin, ter Ellen, Saskia, Eugster, Nicolas, Evans, Martin D.D., Farrell, Michael, Félez-Viñas, Ester, Ferrara, Gerardo, Weitzel, Utz, FERROUHI, El Mehdi, Flori, Andrea, Fluharty-Jaidee, Jonathan, Foley, Sean, Fong, Kingsley Y. L., Foucault, Thierry, Franus, Tatiana, Franzoni, Francesco A., Frijns, Bart, Frömmel, Michael, Abad, David, Fu, Servanna Mianjun, Füllbrunn, Sascha, Gan, Baoqing, Gehrig, Thomas, Gerritsen, Dirk, Gil-Bazo, Javier, Glosten, Lawrence R., Gomez, Thomas, Gorbenko, Arseny, Güçbilmez, Ufuk, Van Dijk, Matthijs A., Leerstoel Stigchel, Helmholtz Institute, Experimental Psychology (onderzoeksprogramma PF), Finance, UU LEG Research UUSE Multidisciplinary Economics, LS Algemene Literatuurwetenschap, Hydrogeology, Sub General Pharmaceutics, Finance and Financial Markets, Menkveld, Albert J., Abudy, Menachem (Meni), Grammig, Joachim, Gregoire, Vincent, Hagströmer, Björn, Hambuckers, Julien, Hapnes, Erik, Harris, Jeffrey H., Harris, Lawrence, Hartmann, Simon, Hasse, Jean-Baptiste, Hautsch, Nikolaus, Adrian, Tobias, He, Xue-Zhong 'Tony', Heath, Davidson, Hediger, Simon, Hendershott, Terrence J., Hibbert, Ann Marie, Hjalmarsson, Erik, Hoelscher, Seth, Hoffmann, Peter, Holden, Craig W., Horenstein, Alex R., Ait-Sahalia, Yacine, Huang, Wenqian, Huang, Da, Hurlin, Christophe, Ivashchenko, Alexey, Iyer, Subramanian R., Jahanshahloo, Hossein, Jalkh, Naji, Jones, Charles M., Jurkatis, Simon, Jylha, Petri, Akmansoy, Olivier, Kaeck, Andreas, Kaiser, Gabriel, Karam, Arzé, Karmaziene, Egle, Kassner, Bernhard, Kaustia, Markku, Kazak, Ekaterina, Kearney, Fearghal, van Kervel, Vincent, Khan, Saad, Alcock, Jamie, Khomyn, Marta, Klein, Tony, Klein, Olga, Klos, Alexander, Koetter, Michael, Krahnen, Jan Pieter, Kolokolov, Aleksey, Korajczyk, Robert A., Kozhan, Roman, Kwan, Amy, Alexeev, Vitali, Lajaunie, Quentin, Lam, Full Yet Eric Campbell, Lambert, Marie, Langlois, Hugues, Lausen, Jens, Lauter, Tobias, Leippold, Markus, Levin, Vladimir, Li, Yijie, Li, (Michael) Hui, Aloosh, Arash, Liew, Chee Yoong, Lindner, Thomas, Linton, Oliver B., Liu, Jiacheng, Liu, Anqi, Llorente-Alvarez, Jesus-Guillermo, Lof, Matthijs, Lohr, Ariel, Longstaff, Francis A., Lopez-Lira, Alejandro, Amato, Livia, Mankad, Shawn, Mano, Nicola, Marchal, Alexis, Martineau, Charles, Mazzola, Francesco, Meloso, Debrah C, Mihet, Roxana, Mohan, Vijay, Moinas, Sophie, Moore, David, Amaya, Diego, Mu, Liangyi, Muravyev, Dmitriy, Murphy, Dermot, Neszveda, Gabor, Neumeier, Christian, Nielsson, Ulf, Nimalendran, Mahendrarajah, Nolte, Sven, Nordén, Lars L., O'Neill, Peter, Angel, James J., Obaid, Khaled, Ødegaard, Bernt Arne, Östberg, Per, Painter, Marcus, Palan, Stefan, Palit, Imon, Park, Andreas, Pascual Gascó, Roberto, Pasquariello, Paolo, Pastor, Lubos, Dreber, Anna, Bach, Amadeus, Patel, Vinay, Patton, Andrew J., Pearson, Neil D., Pelizzon, Loriana, Pelster, Matthias, Pérignon, Christophe, Pfiffer, Cameron, Philip, Richard, Plíhal, Tomáš, Prakash, Puneet, Baidoo, Edwin, Press, Oliver-Alexander, Prodromou, Tina, Putnins, Talis J., Raizada, Gaurav, Rakowski, David A., Ranaldo, Angelo, Regis, Luca, Reitz, Stefan, Renault, Thomas, Wang, Renjie, Bakalli, Gaetan, Renò, Roberto, Riddiough, Steven, Rinne, Kalle, Rintamäki, Paul, Riordan, Ryan, Rittmannsberger, Thomas, Rodríguez Longarela, Iñaki, Rösch, Dominik, Rognone, Lavinia, Roseman, Brian, Barbon, Andrea, Rosu, Ioanid, Roy, Saurabh, Rudolf, Nicolas, Rush, Stephen, Rzayev, Khaladdin, Rzeźnik, Aleksandra, Sanford, Anthony, Sankaran, Harikumar, Sarkar, Asani, Sarno, Lucio, Bashchenko, Oksana, Scaillet, Olivier, Scharnowski, Stefan, Schenk-Hoppé, Klaus Reiner, Schertler, Andrea, Schneider, Michael, Schroeder, Florian, Schürhoff, Norman, Schuster, Philipp, Schwarz, Marco A., Seasholes, Mark S., Bindra, Parampreet Christopher, Seeger, Norman, Shachar, Or, Shkilko, Andriy, Shui, Jessica, Sikic, Mario, Simion, Giorgia, Smales, Lee A., Söderlind, Paul, Sojli, Elvira, Sokolov, Konstantin, Bjonnes, Geir Hoidal, Spokeviciute, Laima, Stefanova, Denitsa, Subrahmanyam, Marti G., Neusüss, Sebastian, Szaszi, Barnabas, Talavera, Oleksandr, Tang, Yuehua, Taylor, Nicholas, Tham, Wing Wah, Theissen, Erik, Black, Jeffrey R., Thimme, Julian, Tonks, Ian, Tran, Hai, Trapin, Luca, Trolle, Anders B., Valente, Giorgio, Van Ness, Robert A., Vasquez, Aurelio, Verousis, Thanos, Verwijmeren, Patrick, Black, Bernard S., Vilhelmsson, Anders, Vilkov, Grigory, Vladimirov, Vladimir, Vogel, Sebastian, Voigt, Stefan, Wagner, Wolf, Walther, Thomas, Weiss, Patrick, van der Wel, Michel, Werner, Ingrid M., Bohorquez, Santiago, Westerholm, P. Joakim, Westheide, Christian, Wipplinger, Evert, Wolf, Michael, Wolff, Christian C. P., Wolk, Leonard, Wong, Wing-Keung, Wrampelmeyer, Jan, Xia, Shuo, Xiu, Dacheng, Holzmeister, Felix, Bondarenko, Oleg, Xu, Ke, Xu, Caihong, Yadav, Pradeep K., Yagüe, José, Yan, Cheng, Yang, Antti, Yoo, Woongsun, Yu, Wenjia, Yu, Shihao, Yueshen, Bart Zhou, Bos, Charles S., Yuferova, Darya, Zamojski, Marcin, Zareei, Abalfazl, Zeisberger, Stefan, Zhang, Sarah, Zhang, Xiaoyu, Zhong, Zhuo, Zhou, Z. Ivy, Zhou, Chen, Zhu, Xingyu, Bosch-Rosa, Ciril, Zoican, Marius, Zwinkels, Remco C.J., Chen, Jian, Duevski, Teodor, Gao, Ge, Gemayel, Roland, Gilder, Dudley, Kuhle, Paul, Pagnotta, Emiliano, Pelli, Michele, Bouri, Elie, Sönksen, Jantje, Zhang, Lu, Ilczuk, Konrad, Bogoev, Dimitar, Qian, Ya, Wika, Hans C., Yu, Yihe, Zhao, Lu, Mi, Michael, Bao, Li, Brownlees, Christian T., Vaduva, Andreea, Prokopczuk, Marcel, Avetikian, Alejandro, Wu, Zhen-Xing, Calamia, Anna, Cao, Viet Nga, Capelle-Blancard, Gunther, Capera, Laura, Caporin, Massimiliano, Huber, Juergen, Carrion, Allen, Caskurlu, Tolga, Chakrabarty, Bidisha, Chernov, Mikhail, Cheung, William Ming Yan, Chincarini, Ludwig B., Chordia, Tarun, Chow, Sheung Chi, Clapham, Benjamin, Colliard, Jean-Edouard, Johanneson, Magnus, Comerton-Forde, Carole, Curran, Edward, Dao, Thong, Dare, Wale, Davies, Ryan J., De Blasis, Riccardo, De Nard, Gianluca, Declerck, Fany, Deev, Oleg, Degryse, Hans, Kirchler, Michael, Deku, Solomon, Desagre, Christophe, Dim, Chukwuma, Dimpfl, Thomas, Dong, Yun Jiang, Drummond, Philip, Dudda, Tom, Dumitrescu, Ariadna, Dyakov, Teodor, Razen, Michael, Dyhrberg, Anne Haubo, Dzieliński, Michał, Eksi, Asli, El Kalak, Izidin, ter Ellen, Saskia, Eugster, Nicolas, Evans, Martin D.D., Farrell, Michael, Félez-Viñas, Ester, Ferrara, Gerardo, Weitzel, Utz, FERROUHI, El Mehdi, Flori, Andrea, Fluharty-Jaidee, Jonathan, Foley, Sean, Fong, Kingsley Y. L., Foucault, Thierry, Franus, Tatiana, Franzoni, Francesco A., Frijns, Bart, Frömmel, Michael, Abad, David, Fu, Servanna Mianjun, Füllbrunn, Sascha, Gan, Baoqing, Gehrig, Thomas, Gerritsen, Dirk, Gil-Bazo, Javier, Glosten, Lawrence R., Gomez, Thomas, Gorbenko, Arseny, Güçbilmez, Ufuk, and Van Dijk, Matthijs A.
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- 2021
165. Non-standard errors
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Menkveld, Albert J., Dreber, Anna, Holzmeister, Felix, Huber, Jürgen, Johannesson, Magnus, Kirchler, Michael, Razen, Michael, Weitzel, Utz, Abad Díaz, David, Abudy, Menachem, Adrian, Tobias, Ait-Sahalia, Yacine, Akmansoy, Olivier, Alcock, Jamie, Alexeev, Vitali, Aloosh, Arash, Amato, Livia, Amaya, Diego, Angel, James, Bach, Amadeus, Baidoo, Edwin, Bakalli, Gaetan, Barbon, Andrea, Bashchenko, Oksana, Bindra, Parampreet Christopher, Bjonnes, Geir Hoidal, Black, Jeff, Black, Bernard S., Bohorquez, Santiago, Bondarenko, Oleg, Bos, Charles S., Bosch-Rosa, Ciril, Bouri, Elie, Brownlees, Christian, Calamia, Anna, Cao, Viet Nga, Capelle-Blancard, Gunther, Capera, Laura, Caporin, Massimiliano, Carrion, Allen, Caskurlu, Tolga, Chakrabarty, Bidisha, Chernov, Mikhail, Cheung, William M., Chincarini, Ludwig Boris, Chordia, Tarun, Chow, Sheung Chi, Clapham, Benjamin, Colliard, Jean-Edouard, Comerton-Forde, Carole, Curran, Edward, Dao, Thong, Dare, Wale, Davies, Ryan J., De Blasis, Riccardo, De Nard, Gianluca, Declerck, Fany, Deev, Oleg, Degryse, Hans, Deku, Solomon, Desagre, Christophe, Dijk, Mathijs van, Dim, Chukwuma, Dimpfl, Thomas, Dong, Yun Jiang, Drummond, Philip, Dudda, Tom, Dumitrescu, Ariadna, Dyakov, Teodor, Haubo Dyhrberg, Anne, Dzieliński, Michał, Eksi, Asli, El Kalak, Izidin, Ellen, Saskia ter, Eugster, Nicolas, Evans, Martin D. D., Farrell, Michael, Félez-Viñas, Ester, Ferrara, Gerardo, Ferrouhi, El Mehdi, Flori, Andrea, Fluharty-Jaidee, Jonathan, Foley, Sean, Fong, Kingsley Y. L., Foucault, Thierry, Franus, Tatiana, Franzoni, Francesco, Frijns, Bart, Frömmel, Michael, Fu, Servanna, Füllbrunn, Sascha, Gan, Baoqing, Gehrig, Thomas, Gerritsen, Dirk, Gil-Bazo, Javier, Glosten, Lawrence R., Gomez, Thomas, Gorbenko, Arseny, Güçbilmez, Ufuk, Grammig, Joachim, Gregoire, Vincent, Hagströmer, Björn, Hambuckers, Julien, Hapnes, Erik, Harris, Jeffrey H., Harris, Lawrence, Hartmann, Simon, Hasse, Jean-Baptiste, Hautsch, Nikolaus, He, Xuezhong, Heath, Davidson, Hediger, Simon, Hendershott, Terrence, Hibbert, Ann Marie, Hjalmarsson, Erik, Hoelscher, Seth A., Hoffmann, Peter, Holden, Craig W., Horenstein, Alex R., Huang, Wenqian, Huang, Da, Hurlin, Christophe, Ivashchenko, Alexey, Iyer, Subramanian Rama, Jahanshahloo, Hossein, Jalkh, Naji, Jones, Charles M., Jurkatis, Simon, Jylha, Petri, Kaeck, Andreas, Kaiser, Gabriel, Karam, Arzé, Karmaziene, Egle, Kassner, Bernhard, Kaustia, Markku, Kazak, Ekaterina, Kearney, Fearghal, Kervel, Vincent van, Khan, Saad, Khomyn, Marta, Klein, Tony, Klein, Olga, Klos, Alexander, Koetter, Michael, Krahnen, Jan Pieter, Kolokolov, Aleksey, Korajczyk, Robert A., Kozhan, Roman, Kwan, Amy, Lajaunie, Quentin, Lam, FY Eric C, Lambert, Marie, Langlois, Hugues, Lausen, Jens, Lauter, Tobias, Leippold, Markus, Levin, Vladimir, Li, Yijie, Li, Hui, Liew, Chee Yoong, Lindner, Thomas, Linton, Oliver B., Liu, Jiacheng, Liu, Anqi, Llorente, Guillermo, Lof, Matthijs, Lohr, Ariel, Longstaff, Francis A., Lopez-Lira, Alejandro, Mankad, Shawn, Mano, Nicola, Marchal, Alexis, Martineau, Charles, Mazzola, Francesco, Meloso, Debrah, Mihet, Roxana, Mohan, Vijay, Moinas, Sophie, Moore, David, Mu, Liangyi, Muravyev, Dmitriy, Murphy, Dermot, Neszveda, Gabor, Neumeier, Christian, Nielsson, Ulf, Nimalendran, Mahendrarajah, Nolte, Sven, Norden, Lars L., O'Neill, Peter, Obaid, Khaled, Ødegaard, Bernt Arne, Östberg, Per, Painter, Marcus, Palan, Stefan, Palit, Imon, Park, Andreas, Pascual, Roberto, Pasquariello, Paolo, Pastor, Lubos, Patel, Vinay, Patton, Andrew J., Pearson, Neil D., Pelizzon, Loriana, Rzeźnik, Aleksandra, Sanford, Anthony, Sankaran, Harikumar, Sarkar, Asani, Sarno, Lucio, Scaillet, O., Scharnowski, Stefan, Schenk-Hoppé, Klaus Reiner, Schertler, Andrea, Schneider, Michael, Schroeder, Florian, Schürhoff, Norman, Schuster, Philipp, Schwarz, Marco A., Seasholes, Mark S., Seeger, Norman, Shachar, Or, Shkilko, Andriy, Shui, Jessica, Sikic, Mario, Simion, Giorgia, Smales, Lee A., Söderlind, Paul, Sojli, Elvira, Sokolov, Konstantin, Spokeviciute, Laima, Stefanova, Denitsa, Subrahmanyam, Marti G., Neusüss, Sebastian, Szaszi, Barnabas, Talavera, Oleksandr, Tang, Yuehua, Taylor, Nicholas, Tham, Wing Wah, Theissen, Erik, Thimme, Julian, Tonks, Ian, Tran, Hai, Trapin, Luca, Trolle, Anders B., Valente, Giorgio, Van Ness, Robert A., Vasquez, Aurelio, Verousis, Thanos, Verwijmeren, Patrick, Vilhelmsson, Anders, Vilkov, Grigory, Vladimirov, Vladimir, Vogel, Sebastian, Voigt, Stefan, Wagner, Wolf, Walther, Thomas, Weiss, Patrick, Wel, Michel van der, Werner, Ingrid M., Westerholm, Joakim, Westheide, Christian, Wipplinger, Evert, Wolf, Michael, Wolff, Christiaan Cornelis Petrus, Wolk, Leonard, Wong, Wing Keung, Wrampelmeyer, Jan, Xia, Shuo, Xiu, Dacheng, Xu, Ke, Xu, Caihong, Yadav, Pradeep, Yagüe, José, Yan, Cheng, Yang, Antti, Yoo, Woongsun, Yu, Wenjia, Yu, Shihao, Yueshen, Bart Zhou, Yuferova, Darya, Zamojski, Marcin, Zareei, Abalfazl, Zeisberger, Stefan, Zhang, Sarah, Zhang, Xiaoyu, Zhong, Zhuo, Zhou, Z. Ivy, Zhou, Chen, Zhu, Xingyu Sonya, Zoican, Marius, Zwinkels, Remco C. J., Chen, Jian, Duevski, Teodor, Gao, Ge, Gemayel, Roland, Gilder, Dudley, Kuhle, Paul, Pagnotta, Emiliano, Pelli, Michele, Sönksen, Jantje, Zhang, Lu, Ilczuk, Konrad, Bogoev, Dimitar, Qian, Ya, Wika, Hans C., Yu, Yihe, Zhao, Lu, Mi, Michael, Bao, Li, Vaduva, Andreea, Prokopczuk, Marcel, Avetikian, Alejandro, Wu, Zhen-Xing, Menkveld, Albert J., Dreber, Anna, Holzmeister, Felix, Huber, Jürgen, Johannesson, Magnus, Kirchler, Michael, Razen, Michael, Weitzel, Utz, Abad Díaz, David, Abudy, Menachem, Adrian, Tobias, Ait-Sahalia, Yacine, Akmansoy, Olivier, Alcock, Jamie, Alexeev, Vitali, Aloosh, Arash, Amato, Livia, Amaya, Diego, Angel, James, Bach, Amadeus, Baidoo, Edwin, Bakalli, Gaetan, Barbon, Andrea, Bashchenko, Oksana, Bindra, Parampreet Christopher, Bjonnes, Geir Hoidal, Black, Jeff, Black, Bernard S., Bohorquez, Santiago, Bondarenko, Oleg, Bos, Charles S., Bosch-Rosa, Ciril, Bouri, Elie, Brownlees, Christian, Calamia, Anna, Cao, Viet Nga, Capelle-Blancard, Gunther, Capera, Laura, Caporin, Massimiliano, Carrion, Allen, Caskurlu, Tolga, Chakrabarty, Bidisha, Chernov, Mikhail, Cheung, William M., Chincarini, Ludwig Boris, Chordia, Tarun, Chow, Sheung Chi, Clapham, Benjamin, Colliard, Jean-Edouard, Comerton-Forde, Carole, Curran, Edward, Dao, Thong, Dare, Wale, Davies, Ryan J., De Blasis, Riccardo, De Nard, Gianluca, Declerck, Fany, Deev, Oleg, Degryse, Hans, Deku, Solomon, Desagre, Christophe, Dijk, Mathijs van, Dim, Chukwuma, Dimpfl, Thomas, Dong, Yun Jiang, Drummond, Philip, Dudda, Tom, Dumitrescu, Ariadna, Dyakov, Teodor, Haubo Dyhrberg, Anne, Dzieliński, Michał, Eksi, Asli, El Kalak, Izidin, Ellen, Saskia ter, Eugster, Nicolas, Evans, Martin D. D., Farrell, Michael, Félez-Viñas, Ester, Ferrara, Gerardo, Ferrouhi, El Mehdi, Flori, Andrea, Fluharty-Jaidee, Jonathan, Foley, Sean, Fong, Kingsley Y. L., Foucault, Thierry, Franus, Tatiana, Franzoni, Francesco, Frijns, Bart, Frömmel, Michael, Fu, Servanna, Füllbrunn, Sascha, Gan, Baoqing, Gehrig, Thomas, Gerritsen, Dirk, Gil-Bazo, Javier, Glosten, Lawrence R., Gomez, Thomas, Gorbenko, Arseny, Güçbilmez, Ufuk, Grammig, Joachim, Gregoire, Vincent, Hagströmer, Björn, Hambuckers, Julien, Hapnes, Erik, Harris, Jeffrey H., Harris, Lawrence, Hartmann, Simon, Hasse, Jean-Baptiste, Hautsch, Nikolaus, He, Xuezhong, Heath, Davidson, Hediger, Simon, Hendershott, Terrence, Hibbert, Ann Marie, Hjalmarsson, Erik, Hoelscher, Seth A., Hoffmann, Peter, Holden, Craig W., Horenstein, Alex R., Huang, Wenqian, Huang, Da, Hurlin, Christophe, Ivashchenko, Alexey, Iyer, Subramanian Rama, Jahanshahloo, Hossein, Jalkh, Naji, Jones, Charles M., Jurkatis, Simon, Jylha, Petri, Kaeck, Andreas, Kaiser, Gabriel, Karam, Arzé, Karmaziene, Egle, Kassner, Bernhard, Kaustia, Markku, Kazak, Ekaterina, Kearney, Fearghal, Kervel, Vincent van, Khan, Saad, Khomyn, Marta, Klein, Tony, Klein, Olga, Klos, Alexander, Koetter, Michael, Krahnen, Jan Pieter, Kolokolov, Aleksey, Korajczyk, Robert A., Kozhan, Roman, Kwan, Amy, Lajaunie, Quentin, Lam, FY Eric C, Lambert, Marie, Langlois, Hugues, Lausen, Jens, Lauter, Tobias, Leippold, Markus, Levin, Vladimir, Li, Yijie, Li, Hui, Liew, Chee Yoong, Lindner, Thomas, Linton, Oliver B., Liu, Jiacheng, Liu, Anqi, Llorente, Guillermo, Lof, Matthijs, Lohr, Ariel, Longstaff, Francis A., Lopez-Lira, Alejandro, Mankad, Shawn, Mano, Nicola, Marchal, Alexis, Martineau, Charles, Mazzola, Francesco, Meloso, Debrah, Mihet, Roxana, Mohan, Vijay, Moinas, Sophie, Moore, David, Mu, Liangyi, Muravyev, Dmitriy, Murphy, Dermot, Neszveda, Gabor, Neumeier, Christian, Nielsson, Ulf, Nimalendran, Mahendrarajah, Nolte, Sven, Norden, Lars L., O'Neill, Peter, Obaid, Khaled, Ødegaard, Bernt Arne, Östberg, Per, Painter, Marcus, Palan, Stefan, Palit, Imon, Park, Andreas, Pascual, Roberto, Pasquariello, Paolo, Pastor, Lubos, Patel, Vinay, Patton, Andrew J., Pearson, Neil D., Pelizzon, Loriana, Rzeźnik, Aleksandra, Sanford, Anthony, Sankaran, Harikumar, Sarkar, Asani, Sarno, Lucio, Scaillet, O., Scharnowski, Stefan, Schenk-Hoppé, Klaus Reiner, Schertler, Andrea, Schneider, Michael, Schroeder, Florian, Schürhoff, Norman, Schuster, Philipp, Schwarz, Marco A., Seasholes, Mark S., Seeger, Norman, Shachar, Or, Shkilko, Andriy, Shui, Jessica, Sikic, Mario, Simion, Giorgia, Smales, Lee A., Söderlind, Paul, Sojli, Elvira, Sokolov, Konstantin, Spokeviciute, Laima, Stefanova, Denitsa, Subrahmanyam, Marti G., Neusüss, Sebastian, Szaszi, Barnabas, Talavera, Oleksandr, Tang, Yuehua, Taylor, Nicholas, Tham, Wing Wah, Theissen, Erik, Thimme, Julian, Tonks, Ian, Tran, Hai, Trapin, Luca, Trolle, Anders B., Valente, Giorgio, Van Ness, Robert A., Vasquez, Aurelio, Verousis, Thanos, Verwijmeren, Patrick, Vilhelmsson, Anders, Vilkov, Grigory, Vladimirov, Vladimir, Vogel, Sebastian, Voigt, Stefan, Wagner, Wolf, Walther, Thomas, Weiss, Patrick, Wel, Michel van der, Werner, Ingrid M., Westerholm, Joakim, Westheide, Christian, Wipplinger, Evert, Wolf, Michael, Wolff, Christiaan Cornelis Petrus, Wolk, Leonard, Wong, Wing Keung, Wrampelmeyer, Jan, Xia, Shuo, Xiu, Dacheng, Xu, Ke, Xu, Caihong, Yadav, Pradeep, Yagüe, José, Yan, Cheng, Yang, Antti, Yoo, Woongsun, Yu, Wenjia, Yu, Shihao, Yueshen, Bart Zhou, Yuferova, Darya, Zamojski, Marcin, Zareei, Abalfazl, Zeisberger, Stefan, Zhang, Sarah, Zhang, Xiaoyu, Zhong, Zhuo, Zhou, Z. Ivy, Zhou, Chen, Zhu, Xingyu Sonya, Zoican, Marius, Zwinkels, Remco C. J., Chen, Jian, Duevski, Teodor, Gao, Ge, Gemayel, Roland, Gilder, Dudley, Kuhle, Paul, Pagnotta, Emiliano, Pelli, Michele, Sönksen, Jantje, Zhang, Lu, Ilczuk, Konrad, Bogoev, Dimitar, Qian, Ya, Wika, Hans C., Yu, Yihe, Zhao, Lu, Mi, Michael, Bao, Li, Vaduva, Andreea, Prokopczuk, Marcel, Avetikian, Alejandro, and Wu, Zhen-Xing
- Abstract
In statistics, samples are drawn from a population in a data-generating process (DGP). Standard errors measure the uncertainty in sample estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence-generating process (EGP). We claim that EGP variation across researchers adds uncertainty: non-standard errors. To study them, we let 164 teams test six hypotheses on the same sample. We find that non-standard errors are sizeable, on par with standard errors. Their size (i) co-varies only weakly with team merits, reproducibility, or peer rating, (ii) declines significantly after peer-feedback, and (iii) is underestimated by participants.
- Published
- 2021
166. Corona and banking - A financial crisis in slow motion? An evaluation of the policy options
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Boot, Arnoud, Carletti, Elena, Kotz, Hans-Helmut, Krahnen, Jan Pieter, Pelizzon, Loriana, Subrahmanyam, Marti G., Boot, Arnoud, Carletti, Elena, Kotz, Hans-Helmut, Krahnen, Jan Pieter, Pelizzon, Loriana, and Subrahmanyam, Marti G.
- Abstract
With the second wave of the Covid-19 pandemic in full swing, banks face a challenging environment. They will need to address disappointing results and adverse balance sheet restatements, the intensity of which depends on the evolution of the euro area economies. At the same time, vulnerable banks reinforce real economy deficiencies. The contribution of this paper is to provide a comparative assessment of the various policy responses to address a looming banking crisis. Such a crisis will fully materialize when non-performing assets drag down banks simultaneously, raising the specter of a full-blown systemic crisis. The policy responses available range from forbearance, recapitalization (with public or private resources), asset separation (bad banks, at national or EU level), to debt conversion schemes. We evaluate these responses according to a set of five criteria that define the efficacy of each. These responses are not mutually exclusive, in practice, as they have never been. They may also go hand in hand with other restructuring initiatives, including potential consolidation in the banking sector. Although we do not make a specific recommendation, we provide a framework for policymakers to guide them in their decision making.
- Published
- 2021
167. Immunophenotypic and gene expression analysis of monoclonal B-cell lymphocytosis shows biologic characteristics associated with good prognosis CLL
- Author
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Lanasa, M C, Allgood, S D, Slager, S L, Dave, S S, Love, C, Marti, G E, Kay, N E, Hanson, C A, Rabe, K G, Achenbach, S J, Goldin, L R, Camp, N J, Goodman, B K, Vachon, C M, Spector, L G, Rassenti, L Z, Leis, J F, Gockerman, J P, Strom, S S, Call, T G, Glenn, M, Cerhan, J R, Levesque, M C, Weinberg, J B, and Caporaso, N E
- Published
- 2011
- Full Text
- View/download PDF
168. Gender differences in associations between ADL and other health indicators in 1992 and 2002
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Schön, Pär, Parker, Marti G., Kåreholt, Ingemar, and Thorslund, Mats
- Published
- 2011
- Full Text
- View/download PDF
169. The economic determinants of interest rate option smiles
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Deuskar, Prachi, Gupta, Anurag, and Subrahmanyam, Marti G.
- Published
- 2008
- Full Text
- View/download PDF
170. A tale of two prices: Liquidity and asset prices in multiple markets
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Chan, Justin S.P., Hong, Dong, and Subrahmanyam, Marti G.
- Published
- 2008
- Full Text
- View/download PDF
171. Complex health problems and mortality among the oldest old in Sweden: decreased risk for men between 1992 and 2002
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Meinow, Bettina, Parker, Marti G., and Thorslund, Mats
- Published
- 2010
- Full Text
- View/download PDF
172. Functional ability in the elderly Swedish population from 1980 to 2005
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Parker, Marti G., Schön, Pär, Lagergren, Mårten, and Thorslund, Mats
- Published
- 2008
- Full Text
- View/download PDF
173. Sex Differences in Health in 1992 and 2002 Among Very Old Swedes
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Schön, Pär and Parker, Marti G.
- Published
- 2008
- Full Text
- View/download PDF
174. Enhanced Tumour Growth and Impaired Cellular Antitumoural Defence in Hepatic Colorectal Carcinoma Metastasis in Rats after Laparoscopy Compared to Open Surgery
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Inderbitzin, D. Th., Marti, G. R., Eichenberger, S., Hoogewoud, H.- M., and Kraehenbuehl, L.
- Published
- 2008
- Full Text
- View/download PDF
175. Clientele Effect in Sovereign Bonds: Evidence From Islamic Sukuk Bonds in Malaysia.
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Minxia Chen, Cherian, Joseph, Ziyun Li, Yuping Shao, and Subrahmanyam, Marti G.
- Published
- 2022
- Full Text
- View/download PDF
176. Genetically identical twin transplantation for chronic lymphocytic leukemia
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Pavletic, S Z, Zhou, G, Sobocinski, K, Marti, G, Doney, K, DiPersio, J, Feremans, W, Foroni, L, Goodman, S, Prentice, G, LeMaistre, C, Bandini, G, Ferrant, A, Jacobsen, N, Khouri, I, Gale, R P, Wiestner, A, Giralt, S, Montserrat, E, Chan, W C, and Bredeson, C
- Published
- 2007
- Full Text
- View/download PDF
177. Aging in disguise: age, period and cohort effects in mobility and edentulousness over three decades
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Ahacic, Kozma, Parker, Marti G., and Thorslund, Mats
- Published
- 2007
- Full Text
- View/download PDF
178. Relationships between symptoms, physical capacity and activity limitations in 1992 and 2002
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Ahacic, Kozma, Kåreholt, Ingemar, Thorslund, Mats, and Parker, Marti G.
- Published
- 2007
- Full Text
- View/download PDF
179. In sickness and in debt: The COVID-19 impact on sovereign credit risk
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Valeri Sokolovski, Marti G. Subrahmanyam, Patrick Augustin, and Davide Tomio
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040101 forestry ,Economics and Econometrics ,050208 finance ,Strategy and Management ,media_common.quotation_subject ,Sovereign default ,Fiscal space ,05 social sciences ,Monetary policy ,Financial market ,04 agricultural and veterinary sciences ,Monetary economics ,Accounting ,Debt ,0502 economics and business ,Economics ,Sovereign credit risk ,0401 agriculture, forestry, and fisheries ,Psychological resilience ,Developed country ,Finance ,media_common - Abstract
The COVID-19 pandemic provides a unique setting in which to evaluate the importance of a country’s fiscal capacity in explaining the relation between economic growth shocks and sovereign default risk. For a sample of 30 developed countries, we find a positive and significant sensitivity of sovereign default risk to the intensity of the virus’s spread for fiscally constrained governments. Supporting the fiscal channel, we confirm the results for Eurozone countries and U.S. states, for which monetary policy can be held constant. Our analysis suggests that financial markets penalize sovereigns with low fiscal space, impairing their resilience to external shocks.
- Published
- 2020
180. Security design with status concerns
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Dmitry Makarov, Alexander Shapiro, Suleyman Basak, and Marti G. Subrahmanyam
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Flexibility (engineering) ,Economics and Econometrics ,050208 finance ,Control and Optimization ,Convertible ,Applied Mathematics ,05 social sciences ,Microeconomics ,Hybrid security ,Incentive ,Salient ,0502 economics and business ,Convertible security ,Economics ,Securities ,050207 economics ,Volatility (finance) ,EFB ,Credit risk - Abstract
This paper provides a status-based explanation for convertible securities. An entrepreneur with status concerns inducing risk-taking decides how to finance the firm and how to dynamically manage it. Solving analytically for the optimal security, we find that it is substantially similar to a convertible security. Our model can explain why convertible securities are mainly issued by start-ups and small firms, as we show that their salient characteristics, higher volatility and dynamic flexibility, accentuate incentives to issue convertible securities. We also provide analytical results relevant to quantifying how status concerns affect credit risk, an established factor behind security choice.
- Published
- 2020
181. The Coronavirus and Financial Stability
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Boot, Arnoud W. A., Carletti, Elena, Haselmann, Rainer, Kotz, Hans-Helmut, Krahnen, Jan Pieter, Pelizzon, Loriana, Schaefer, Stephen M., Subrahmanyam, Marti G., Corporate Governance, Finance (ABS, FEB), Faculteit Economie en Bedrijfskunde, and Amsterdam Center for Law and Economics (FdR, FEB)
- Subjects
strategies ,banking ,ddc:330 ,coronavirus ,financial stability - Abstract
The spreading of the Covid-19 virus causes a reduction in economic activity worldwide and may lead to new risks to financial stability. The authors draw attention to the urgency of the targeted mitigation strategies on the European level and suggest taking coordinated action on the fiscal side to provide liquidity to affected firms in the corporate sector. Otherwise, virus-related cashflow interruptions could lead to a new full-blown banking crisis. Monetary policy measures are unlikely to mitigate cash liquidity shortages at the level of individual firms. Coordinated action at European level is decisive to prevent markets from losing confidence in the resilience of banks, particularly in countries with limited fiscal capacity. In contrast to the euro crisis of 2011, the cause of the current crisis does not lie in the financial markets; therefore, the risk of moral hazard for banks or states is low.
- Published
- 2020
182. Corona and Financial Stability 2.0: Act jointly now, but also think about tomorrow
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Boot, Arnoud W. A., Carletti, Elena, Kotz, Hans-Helmut, Krahnen, Jan Pieter, Pelizzon, Loriana, Subrahmanyam, Marti G., Corporate Governance, Finance (ABS, FEB), Faculteit Economie en Bedrijfskunde, and Amsterdam Center for Law and Economics (FdR, FEB)
- Subjects
systemic risk ,ddc:330 ,coronavirus ,financial stability - Abstract
In this SAFE Policy letter on the implications of the Coronavirus for financial stability in Europe, we address how to mitigate a systemic financial crisis that is propagating in slow motion, as we speak, and which we identified and diagnosed in the SAFE policy letter 782. This second letter emphasizes the speed at which the underlying unprecedented real sector cash drains and how asymmetric national solutions may be destabilizing in the longer run. Our main conclusion: A coordinated fiscal plan at the pan-European level, complementing national measures, is crucial for financial stability in Europe. The plan has to be substantial in size, implemented immediately, and backed by a common fiscal backstop. While today's policy actions have to be undertaken inevitably at a quickened pace, it is paramount to also account for the longer-term implications of the chosen policies and instruments for a post-crisis Europe now. (...)
- Published
- 2020
183. Designated Market Makers: Competition and Incentives
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Bellia, Mario, Pelizzon, Loriana, Subrahmanyam, Marti G., and Yuferova, Darya
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Designated Market Makers ,Liquidity Provision ,G14 ,ddc:330 ,DMMs ,G12 - Abstract
Do competition and incentives offered to designated market makers (DMMs) improve market liquidity? Using data from the NYSE Euronext Paris, we show that an exogenous increase in competition among DMMs leads to a significant decrease in quoted and effective spreads, mainly through a reduction in the realized spread. In contrast, changes in incentives, through small changes in rebates and requirements for DMMs, do not have any tangible effect on market liquidity. Our analysis shows that incentivizing DMMs might not necessary lead to an improvement of market liquidity unless exchanges induce greater competition among DMMs. August 8, 2020
- Published
- 2020
184. Collateral eligibility of corporate debt in the Eurosystem
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Pelizzon, Loriana, Riedel, Max, Simon, Zorka, and Subrahmanyam, Marti G.
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G14 ,jel:E58 ,jel:G12 ,Collateral Policy ,jel:G32 ,Corporate Debt Structure ,jel:G14 ,ddc:330 ,G32 ,G12 ,E58 ,Eligibility premium ,ECB ,Corporate Bonds - Abstract
We study how the Eurosystem Collateral Framework for corporate bonds helps the European Central Bank (ECB) fulfill its policy mandate. Using the ECBs eligibility list, we identify the first inclusion date of both bonds and issuers. We find that due to the increased supply and demand for pledgeable collateral following eligibility, (i) securities lending market trading activity increases, (ii) eligible bonds have lower yields, and (iii) the liquidity of newly-issued bonds declines, whereas the liquidity of older bonds is una↵ected/improves. Corporate bond lending relaxes the constraint of limited collateral supply, thereby making the market more cohesive and complete. Following eligibility, bond-issuing firms reduce bank debt and expand corporate bond issuance, thus increasing overall debt size and extending maturity.
- Published
- 2020
185. Corona and financial stability 4.0: implementing a european pandemic equity fund
- Author
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Boot, Arnoud, Carletti, Elena, Kotz, Hans-Helmut, Krahnen, Jan Pieter, Pelizzon, Loriana, and Subrahmanyam, Marti G.
- Subjects
ddc:330 - Abstract
This Policy Letter presents a proposal for designing a program of government assistance for firms hurt by the Coronavirus crisis in the European Union (EU). In our recent Policy Letter 81, we introduced a new, equity-type instrument, a cash-against-tax surcharge scheme, bundled across firms and countries in a European Pandemic Equity Fund (EPEF). The present Policy Letter 84 focuses on the principles and conditions relevant for the operationalization of a EPEF. Our proposal has several desirable features. It: a) offers better risk sharing opportunities, augmenting the resilience of businesses and EU economies; b) is need-based, thereby contributing to an effective use of resources; c) builds on conditions and credible controls, addressing adverse selection and moral hazard; d) is accessible to smaller and medium-sized firms, the backbone of Europe’s economy; e) applies Europe-wide uniform eligibility criteria, strengthening support among member states; f) is a scheme of limited duration, reducing (perceived) government interference in businesses; g) creates a template for a growth-oriented public policy, aligning public and private sector interests; and h) builds on the existing institutional infrastructure and requires minimal legislative adjustments.
- Published
- 2020
186. Low-Latency Trading and Price Discovery: Evidence from the Tokyo Stock Exchange in the Pre-Opening and Opening Periods
- Author
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Mario Bellia, Loriana Pelizzon, Marti G. Subrahmanyam, Jun Uno, and Darya Yuferova
- Published
- 2020
- Full Text
- View/download PDF
187. Attention Triggers and Investors' Risk-Taking
- Author
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Matthias Pelster, Marti G. Subrahmanyam, and Marc Arnold
- Subjects
Leverage (finance) ,Carry (investment) ,Service (economics) ,media_common.quotation_subject ,Business ,Monetary economics ,Discount points ,Risk taking ,Large sample ,media_common - Abstract
This paper investigates how individual attention triggers influence financial risk-taking based on a large sample of trading records from a brokerage service that sends standardized push messages on stocks to retail investors. By exploiting the data in a difference-in-differences (DID) setting, we find that attention triggers increase investors' risk-taking. Our DID coefficient implies that attention trades carry, on average, a 19-percentage point higher leverage than non-attention trades. We provide a battery of cross-sectional analyses to identify the groups of investors and stocks for which this effect is stronger.
- Published
- 2020
- Full Text
- View/download PDF
188. Corona and Financial Stability 2.0: Act jointly now, but also think about tomorrow
- Author
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Boot, Arnoud, Carletti, Elena, Kotz, Hans-Helmut, Krahnen, Jan Pieter, Pelizzon, Loriana, and Subrahmanyam, Marti G.
- Subjects
ddc:330 - Published
- 2020
189. The coronavirus and financial stability
- Author
-
Boot, Arnoud, Carletti, Elena, Haselmann, Rainer, Kotz, Hans-Helmut, Krahnen, Jan Pieter, Pelizzon, Loriana, Schaefer, Stephen, and Subrahmanyam, Marti G.
- Subjects
ddc:330 - Abstract
The spreading of the Covid-19 virus causes a reduction in economic activity worldwide and may lead to new risks to financial stability. The authors draw attention to the urgency of the targeted mitigation strategies on the European level and suggest taking coordinated action on the fiscal side to provide liquidity to affected firms in the corporate sector. Otherwise, virus-related cashflow interruptions could lead to a new full-blown banking crisis. Monetary policy measures are unlikely to mitigate cash liquidity shortages at the level of individual firms. Coordinated action at European level is decisive to prevent markets from losing confidence in the resilience of banks, particularly in countries with limited fiscal capacity. In contrast to the euro crisis of 2011, the cause of the current crisis does not lie in the financial markets; therefore, the risk of moral hazard for banks or states is low.
- Published
- 2020
190. First-Episode Psychotic Patients Showed Longitudinal Brain Changes Using fMRI With an Emotional Auditory Paradigm
- Author
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Gonzalez-Vivas C, Garcia-Marti G, Soldevila-Matias P, Sanz-Requena R, Aguilar E, Castro-Bleda M, Marti-Bonmati L, and Sanjuan J
- Subjects
first episode psychosis (FEP) ,nervous system ,longitudinal ,fMRI— ,emotional design model ,follow up ,paradigm ,functional magnetic resonance imaging - Abstract
Most previous longitudinal studies of functional magnetic resonance imaging (fMRI) in first-episode psychosis (FEP) using cognitive paradigm task found an increased activation after antipsychotic medications. We designed an emotional auditory paradigm to explore brain activation during emotional and nonemotional word processing. This study aimed to analyze if longitudinal changes in brain fMRI BOLD activation is present in patients vs. healthy controls. A group of FEP patients (n = 34) received clinical assessment and had a fMRI scan at baseline and follow-up (average, 25-month interval). During the fMRI scan, both emotional and nonemotional words were presented as a block design. Results were compared with a pair of healthy control group (n = 13). Patients showed a decreased activation at follow-up fMRI in amygdala (F = 4.69; p = 0.04) and hippocampus (F = 5.03; p = 0.03) compared with controls. Middle frontal gyrus was the only area that showed a substantial increased activation in patients (F = 4.53; p = 0.04). A great heterogeneity in individual activation patterns was also found. These results support the relevance of the type of paradigm in neuroimaging for psychosis. This is, as far as we know, the first longitudinal study with an emotional auditory paradigm in FEP. Our results suggested that the amygdala and hippocampus play a key role in psychotic disease. More studies are needed to understand the heterogeneity of response at individual level.
- Published
- 2020
191. Policy Interventions and Liquidity in Segmented Chinese Credit Bond Markets
- Author
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Marti G. Subrahmanyam and Jingyuan Mo
- Subjects
Liberalization ,Collateral ,Bond ,Economics ,Bond market ,Foreign direct investment ,Interbank lending market ,Monetary economics ,China ,Market liquidity - Abstract
This paper documents the pricing of liquidity and identifies its drivers in the four main segments of the interbank and exchange credit bond markets in China. First, we find that liquidity effects are priced in credit bond yield spreads, and differ significantly across these four segments. Second, we identify several channels through which liquidity may affect the pricing of credit bonds. We find that the risk-sharing channel and the macroeconomic channel have significantly influenced liquidity effects, while the information channel does not seem to have had any such clear impact. Third, we analyze the impact of two types of policy shocks, including one collateral shock on repo-eligibility in the exchange market and four liberalization shocks on foreign investment in the interbank market, on the levels of liquidity and the pricing of liquidity effects in the Chinese credit bond markets. We identify the most important of the four policy shocks on interbank liberalization to be the policy on the Bond Connect program linking Chinese and overseas markets.
- Published
- 2020
- Full Text
- View/download PDF
192. Corona and financial stability 3.0: try equity - risk sharing for companies, large and small
- Author
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Boot, Arnoud, Carletti, Elena, Kotz, Hans-Helmut, Krahnen, Jan Pieter, Pelizzon, Loriana, and Subrahmanyam, Marti G.
- Subjects
ComputingMilieux_THECOMPUTINGPROFESSION ,ddc:330 ,ComputingMilieux_LEGALASPECTSOFCOMPUTING - Abstract
This policy letter adds to the current discussion on how to design a program of government assistance for firms hurt by the Coronavirus crisis. While not pretending to provide a cure-all proposal, the advocated scheme could help to bring funding to firms, even small firms, quickly, without increasing their leverage and default risk. The plan combines outright cash transfers to firms with a temporary, elevated corporate profit tax at the firm level as a form of conditional payback. The implied equity-like payment structure has positive risk-sharing features for firms, without impinging on ownership structures. The proposal has to be implemented at the pan-European level to strengthen Euro area resilience.
- Published
- 2020
193. Collateral Eligibility of Corporate Debt in the Eurosystem
- Author
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Max Riedel, Loriana Pelizzon, Marti G. Subrahmanyam, and Zorka Simon
- Subjects
History ,Polymers and Plastics ,Corporate debt ,Collateral ,Bond ,Financial system ,Industrial and Manufacturing Engineering ,Supply and demand ,Market liquidity ,Corporate bond ,Issuer ,Securities lending ,Business ,Business and International Management - Abstract
We study the plethora of implications of the Eurosystem collateral framework for corporate bonds. Using data on the evolving collateral eligibility list, we identify the first inclusion date of bonds and issuers. We find that increased supply and demand for pledgeable collateral following eligibility (a) increases activity in the securities lending market, (b) lowers eligible bonds yields, and (c) reduces the liquidity of newly issued bonds, whereas that of older bonds remains unaffected. Thus, corporate bond lending relaxes the constraint of limited collateral supply, thereby improving market cohesion and completeness.
- Published
- 2020
- Full Text
- View/download PDF
194. The Covid-19 Shock and equity shortfall: Firm-level evidence from Italy
- Author
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Elena, Carletti, Tommaso, Oliviero, Marco, Pagano, Pelizzon, Loriana, and Subrahmanyam, Marti G.
- Subjects
Settore SECS-P/02 - Politica Economica - Published
- 2020
195. The COVID-19 shock and equity shortfall: firm-level evidence from Italy
- Author
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Carletti, Elena, Oliviero, Tommaso, Pagano, Marco, Pelizzon, Loriana, and Subrahmanyam, Marti G.
- Subjects
equity ,recapitalization ,ddc:330 ,COVID-19 ,distress ,G32 ,G33 ,G01 ,pandemics ,jel:G01 ,losses ,jel:G32 ,jel:G33 - Abstract
We employ a representative sample of 80,972 Italian firms to forecast the drop in profits and the equity shortfall triggered by the COVID-19 lockdown. A 3-month lockdown generates an aggregate yearly drop in profits of about 10% of GDP, and 17% of sample firms, which employ 8.8% of the sample’s employees, become financially distressed. Distress is more frequent for small and medium-sized enterprises, for firms with high pre-COVID-19 leverage, and for firms belonging to the Manufacturing and Wholesale Trading sectors. Listed companies are less likely to enter distress, whereas the correlation between distress rates and family firm ownership is unclear. (JEL G01, G32, G33)
- Published
- 2020
196. Coming Early to the Party
- Author
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Mario Bellia, Loriana Pelizzon, Marti G. Subrahmanyam, Jun Uno, and Darya Yuferova
- Published
- 2020
- Full Text
- View/download PDF
197. Spinorbit-coupled fermions in an optical lattice clock
- Author
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Kolkowitz, S., Bromley, S. L., Bothwell, T., Wall, M. L., Marti, G. E., Koller, A. P., Zhang, X., Rey, A. M., and Ye, J.
- Subjects
Fermions -- Properties ,Physics research ,Crystal lattices -- Properties ,Spin coupling -- Research ,Environmental issues ,Science and technology ,Zoology and wildlife conservation - Abstract
Author(s): S. Kolkowitz (corresponding author) [1]; S. L. Bromley (corresponding author) [1]; T. Bothwell [1]; M. L. Wall [1]; G. E. Marti [1]; A. P. Koller [1]; X. Zhang [1]; [...]
- Published
- 2017
- Full Text
- View/download PDF
198. Complex health problems in the oldest old in Sweden 1992–2002
- Author
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Meinow, Bettina, Parker, Marti G., Kåreholt, Ingemar, and Thorslund, Mats
- Published
- 2006
- Full Text
- View/download PDF
199. Do actions speak louder than words? Self-assessed and performance-based measures of physical and visual function among old people
- Author
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Fors, Stefan, Thorslund, Mats, and Parker, Marti G.
- Published
- 2006
- Full Text
- View/download PDF
200. Health trends in the elderly population: getting better and getting worse
- Author
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Parker, Marti G. and Thorslund, Mats
- Subjects
Aged -- Health aspects ,Old age assistance -- Health aspects ,Morbidity -- Demographic aspects ,Health ,Seniors - Abstract
Health trends in the fastest growing sector of the population, the oldest old, have received much attention during the past decade because of the rising costs of medical and long-term care. Many studies have suggested a compression of morbidity in this sector, implying that the future care needs of elderly people will not follow the demographic prognoses. Most of these studies have used health indicators based on disability, a concept that is contextually embedded. We have taken a closer look at health-trend surveys with a focus on the health indicator used. Our findings reveal that although disability measures often show improvement, there is a simultaneous increase in chronic disease and functional impairments--health components that require care resources. That is, an expansion of other health problems may accompany a compression of disability. Therefore, a concept of general morbidity is not sufficient when discussing health trends and the need for care services in the elderly population. Because different indicators do not show the same trends over time, we suggest a more refined discussion that distinguishes between different health components. In addition, different components have different implications for the amount and kind of care resources needed. If the current positive trends in disability continue, future need for social services and long-term care may not parallel demographic projections. Trends in disease and functional limitations seem to have taken a different direction, suggesting a parallel or increased need for resources in medical care, rehabilitation, and compensatory interventions such as assistive technology. Key Words: Compression of morbidily, Activities of daily living, Health indicators, Disabilily
- Published
- 2007
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