Finance and inequality: channels and evidence
A framework for interpreting studies on financial development and inequality is presented. Studies show that poor access to funding and financial services reflect economic constraints. Inequality, on the other hand, affects the distribution of political influence, and financial regulation is easily captured by established interests. It is concluded that financial reforms will succeed if matched by a buildup in oversight institutions.
Publication Name: Journal of Comparative Economics
Banks and the world's major banking centers, 2000
The substantial changes in the evolution of financial centers and in the behavior of the international banks between 1990 and 2000 are examined. The changes presented show that the number of banks and the number of offices in other centers has fallen by over 20 % since 1990 and Tokyo has lost rank as a center while Honk Kong and Singapore have continued to gain importance.
Publication Name: Review of World Economics: Weltwirtschaftliches Archiv
An object-oriented framework for valuing shouts options on high-performance computer architectures
An object-oriented framework for valuing the contracts, which is capable of exploiting modern high-performance computer architectures, is presented. Complex version of these options are embedded in financial products, which offers various types of maturity guarantees such as segregated funds.
Publication Name: Journal of Economic Dynamics & Control
- Abstracts: Devaluation risk in target zones: evidence from the Nordic countries. Political cycles and cyclical policies
- Abstracts: The relative importance of actual and potential competition: empirical evidence from the pharmaceuticals market
- Abstracts: Multiproject contact in research joint ventures: evidence and theory. A theory of haste
- Abstracts: The effects of market structure and ownership on prices and service offerings in the U.S. cable television industry
- Abstracts: Transaction costs and price volatility: evidence from commission deregulation. Economic conditions early in life and individual mortality