Zobrazeno 1 - 10
of 33
pro vyhledávání: '"Norman Schürhoff"'
While Reinforcement Learning (RL) aims to train an agent from a reward function in a given environment, Inverse Reinforcement Learning (IRL) seeks to recover the reward function from observing an expert's behavior. It is well known that, in general,
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::3e79afb28bd66103fe6b77163dfc4e71
Publikováno v:
Annual Review of Financial Economics. 11:65-84
The effective functioning of the municipal bond market is crucial for the provision of public services, as it is the largest capital market for state and municipal issuers. Prior research has documented tax, credit, liquidity, and segmentation effect
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::90efd18a752ec226c240ee1b857834ff
https://doi.org/10.1146/annurev-financial-110118-123034
https://doi.org/10.1146/annurev-financial-110118-123034
Publikováno v:
The Journal of Finance. 75:683-734
We examine the network of trading relations between insurers and dealers in the over-the-counter corporate bond market. Comprehensive regulatory data shows that many insurers use only one dealer while the largest insurers have networks of up to forty
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::15a62a1e11dacf9d718e063f2a6b8a17
https://doi.org/10.1111/jofi.12864
https://doi.org/10.1111/jofi.12864
Publikováno v:
SSRN Electronic Journal.
Repo markets trade off the efficient allocation of liquidity in the financial sector with resilience to funding shocks. The repo trading and clearing mechanisms are crucial determinants of the allocation-resilience tradeoff. The two common mechanisms
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::e5e7be2a446ae29277bca3dbfc18d850
https://doi.org/10.2139/ssrn.3779987
https://doi.org/10.2139/ssrn.3779987
Publikováno v:
SSRN Electronic Journal.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::3ce3c0e5106f014c05f45eae1dfb8fcf
https://doi.org/10.2139/ssrn.3982686
https://doi.org/10.2139/ssrn.3982686
Publikováno v:
SSRN Electronic Journal.
We examine technology enabling dispersed investors to directly trade with each other in over- the-counter markets via the largest electronic trading platform in corporate bonds starting Open Trading (OT) to allow investor-to-investor trading. Over ou
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::1b347cb8a3f54332019dfb89b92079ec
https://doi.org/10.2139/ssrn.3895270
https://doi.org/10.2139/ssrn.3895270
Publikováno v:
SSRN Electronic Journal.
Traditional liquidity measures can provide a false impression of the liquidity and stability of financial market trading. Using data on auctions (bids wanted in competition; BWICs) from the collateralized loan obligation (CLO) market, we show that a
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::bb61bf22c7388be1c1706d5984e6bc22
https://doi.org/10.2139/ssrn.3680035
https://doi.org/10.2139/ssrn.3680035
Publikováno v:
The Review of Financial Studies. 31:4232-4287
We construct firm-level indexes for agency conflicts between controlling shareholders and outside investors by estimating a dynamic model of financing decisions. Our estimates for 12,652 firms from 14 countries show that agency conflicts are large an
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::4e48d9b7ef54413a4b36833112b52b63
https://doi.org/10.1093/rfs/hhy018
https://doi.org/10.1093/rfs/hhy018
Publikováno v:
SSRN Electronic Journal.
Optimal resolution of debt crises requires bailouts to account for borrowers’ time-inconsistency. We show in a dynamic model of strategic default that myopic borrowers undervalue their option to default by a U-shaped error, which causes excessive l
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::73fb9851fe7921483fcb441d177ecdc5
https://doi.org/10.2139/ssrn.3475419
https://doi.org/10.2139/ssrn.3475419
Publikováno v:
SSRN Electronic Journal.
Should legislation ban the negotiated sales of municipal bonds? What are the costs of forcing public auctions? We compare the offering yields of local governments that are forced by state law to use public auctions to the offering yields of local gov
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::1c9381f1c7e407fb88c0d6b8d5d2f45e
https://doi.org/10.2139/ssrn.3508342
https://doi.org/10.2139/ssrn.3508342