Tuesday, May 25, 2010

An Outsider's View of Modern Macroeconomics

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Following up on a testy exchange with David Andolfatto, Mark Thoma has written a thoughtful post in which he discusses the state of modern...
9 comments:
Sunday, May 23, 2010

Blame the Instructions, Not the Machines

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Following the dramatic flash crash on May 6, there has been a lot of attention paid to the mechanics of trading (automation, frequency, s...
5 comments:
Saturday, May 15, 2010

James Tobin's Hirsch Lecture

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James Tobin's Fred Hirsch Memorial Lecture "On the Efficiency of the Financial System" was originally published in a 1984 is...
Monday, May 10, 2010

Reflections on the Flash Crash

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Index Universe observes that much of the unusual trading activity last Thursday involved exchange traded funds and notes: Nasdaq has re...
4 comments:
Friday, May 07, 2010

Algorithmic Trading and Price Volatility

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Yesterday's dramatic decline and rapid recovery in stock prices may have been triggered by an erroneous trade, but could not have occu...
4 comments:
Sunday, May 02, 2010

Reputational Capital and Incentives in Organizations

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The following passage, jarring in light of recent revelations, appears in the opening pages of Akerlof and Kranton's recently published ...
5 comments:
Saturday, April 24, 2010

Trading Strategies and Market Efficiency

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Here is David Merkel's tenth rule : The more entities manage for total return, the more unstable the financial system becomes. The...
3 comments: