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pro vyhledávání: '"Oved Yosha"'
Autor:
Spiegler, Ran **This paper is based on a section of my Ph.D. dissertation, currently being written under the supervision of Ariel Rubinstein, to whom I am very grateful. A previous version of the paper was entitled “Coordination and Matchmakers.” I also thank Elhanan Ben-Porath, Francis Bloch, Kfir Eliaz, Drew Fudenberg, Matthew Jackson, Phillipe Jehiel, Asher Wolinsky, Ehud Yampuler, Oved Yosha, seminar participants in Tel-Aviv and Northwestern Universities, an anonymous referee, and an associate editor, for their valuable comments. I thank Eddie Dekel for detailed comments on an earlier draft. Financial support from U.S.–Israel Binational Science Foundation, Grant 1011-341, and from the Jack Salzberg Chair in Economic Theory, is gratefully acknowledged.
Publikováno v:
In Games and Economic Behavior January 2000 30(1):142-162
Publikováno v:
Journal of International Money and Finance. 26:587-605
We document that international home bias in debt and equity holdings declined during the period 1993–2003 at the same time as international risk sharing increased. Using panel-data regressions for OECD countries, we demonstrate that less home bias
Autor:
Asher Blass, Oved Yosha
Publikováno v:
Economics of Innovation and New Technology. 12:425-447
We study financing patterns of publicly traded R&D-intensive manufacturing firms in Israel. We further characterize R&D-intensive firms by size, physical capital intensity, and whether they issued stocks in the United States, asking whether these fea
Publikováno v:
Journal of Political Economy. 110:634-645
State-level consumption exhibits excess sensitivity to lagged income to the same extent as US aggregate data, but state-specific (idiosyncratic) consumption exhibits substantially less sensitivity to lagged state-specific income---a result that also
Autor:
Oved Yosha, Yishay Yafeh
Publikováno v:
Review of Finance. 5:63-78
Using standard Industrial Organization tools, we analyze the relation between competition in arm's length financial markets and the prevalence of close bank-firms ties. We show how the degree of competition between financial intermediaries affects th
Publikováno v:
Journal of Applied Corporate Finance. 10:79-89
Despite significant capital-market reforms in the mid-1980s, the Israeli government and banks continue to play an unusually dominant role in Israeli financial markets. Israeli banks operate as merchant banks and, through pyramid structures of ownersh
Autor:
Bent E. Sørensen, Oved Yosha
Publikováno v:
Journal of International Economics. 45:211-238
We explore income and consumption smoothing patterns among European Community (EC) countries and among OECD countries during the period 1966–90. We find that, for OECD as well as for EC countries, about 40 percent of shocks to GDP are smoothed at t
Autor:
Oved Yosha
Publikováno v:
Journal of Economic Theory. 75:64-88
An economy with partially diversified imperfectly competitive (Cournot) intermediaries is replicated. The Cournot–Walras equilibrium converges to the perfectly competitive equilibrium with no uncertainty. Despite the convergence, the tension betwee
Autor:
Roberto Serrano, Oved Yosha
Publikováno v:
Economic Theory. 8:167-175
We study the welfare properties of a market with pairwise meetings and asymmetric information, establishing an equivalence between asymptotically expost individually rational and asymptotically (ex-ante, interim and ex-post) efficient equilibrium seq
Autor:
Oved Yosha
Publikováno v:
Journal of Financial Intermediation. 4:3-20
Small- and medium-size, high quality, entrepreneurial firms may prefer bilateral to multilateral financing arrangements, in order to avoid disclosure of private information which might leak to competitors. In the presence of a cost differential betwe