Matti Suominen

TL;DR: In this paper, the relative competitiveness of the banking industries in three Nordic countries is provided, by applying Data Envelopment Analysis of productivity on the national and the pooled data sets, which produces a detailed account of how well banks from different countries and different sizes may be prepared to meet the more intense competition of a common European banking market.

TL;DR: In this article, the authors developed an agency-based model of closing price manipulation, which can account for these phenomena and discussed the optimal closing price mechanism under manipulation, as well as the optimal closed price mechanism for the Paris Bourse under manipulation.

TL;DR: In this article, the authors consider a market microstructure model in which the rates of public and private informa? tion arrival are probabilistic, and the latter depends on the availability of private information that is stochastically changing over time.

TL;DR: In this paper, a two-country general equilibrium model with partially segmented financial markets, where hedge funds emerge endogenously, was studied and it was shown that the hedge fund investment strategy predicted by the model, so called "risk-adjusted carry trade" strategy, explains more than 16% of a broad hedge fund index returns and more than 33% of fixed income arbitrage sub-index returns.

TL;DR: In this paper, the authors extend Bresnahan's method to the case of two products, whose demand and marginal cost functions are interdependent, and show that this test is no longer the most appropriate one, since the indexation of products would distort the true supply relationship and probably leads to a loss of information.