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Essays on pricing anomalies and the limits of arbitrage in emerging markets
(2016-07)
It is a difficult task to explain market anomalies in standard models of asset pricing, as they are all based on the core idea of the law of one price: two assets with equal expected returns have equal values. Otherwise, ...
Liquidity in the emerging market local currency bond market: measurement,commonality, and supply of risk capital
(2016-06)
Major emerging markets sovereigns have started financing a significant component of their budget deficits issuing local currency (LC) bond, reaching to the total outstanding size over 5 trillion dollar almost half of the ...
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