Journal ArticleDOI
Gold, liquidity and secured loans in a multistage economy
Martin Shubik,Shuntian Yao +1 more
Abstract:
A multistage economy with durables with finite and with unbounded lives is considered. The importance of the existence of both asset and rental markets is considered. It is shown that without rental markets efficiency may not be achieved and a stationary state that might exist with rental markets need not exist. The meaning of the existence of a 100% backed loan is considered. The roles of gold and land as stores of value and money are considered.read more
Citations
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Journal ArticleDOI
The quality of market volatility forecasts implied by S&P 100 index option prices
TL;DR: In this article, the authors examined the performance of the S&P 100 implied volatility as a forecast of future stock market volatility and found that the implied volatility is an upward biased forecast, but also that it contains relevant information regarding future volatility.
Posted ContentDOI
Making Impact on Common Financial Factors Affecting Liquidity Ratio Based on Greedy Approach Through Price Movement in Stock Market
TL;DR: In this paper , a research article focused on discovering appropriate liquidity risk concerns in the financial sector, which deals with the appropriate liquidity factors that affect financial performance services pertained to several liquidity crises and the respective liquidity measures.
References
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Journal ArticleDOI
A Theory of Money and Financial Institutions. Part 28. The Noncooperative Equilibria of a Closed Trading Economy with Market Supply and Bidding Strategies
Pradeep Dubey,Martin Shubik +1 more
TL;DR: Shubik and Shubik as discussed by the authors examined a noncooperative equilibrium solution to one of the alternative models and to contrasting this with the non-cooperative solution to the original model.
Journal ArticleDOI
The optimal bankruptcy rule in a trading economy using fiat money
Martin Shubik,Charles Wilson +1 more
TL;DR: In this paper, an outside bank, and borrowing are considered explicitly and the meaning of an optimal bankruptcy rule are considered, and the authors deal primarily with problems in modelling and interpretation of a monetary economy.
Journal ArticleDOI
Bankruptcy and optimality in a closed trading mass economy modelled as a non-cooperative game
Pradeep Dubey,Martin Shubik +1 more
TL;DR: In this paper, the authors established the existence of an optimal bankruptcy rule which enables them to describe the Walrasian trading economy as a game with trade in fiat money, and the non-cooperative equilibrium points of this game which (in terms of prices and the final allocation yielded) include the competitive equilibrium points, when the bankruptcy rule is different from optimal.
Book
Benjamin Franklin: A Biography
TL;DR: Clark as discussed by the authors explores the large role that science played in Franklin's life and his pivotal stance during the Revolution and at the Constitutional Convention, revealing that Franklin emerged more vibrant, contradictory and spirited.