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Asset markets are now poised at a critical juncture.
It's not widespread in asset markets.
Opacity assumes at least two prominent forms in asset markets.
But they also have a distorting effect on asset markets.
For inflated asset markets there will be risks.
This optimal organization of asset markets can be decentralized using standard financial arrangements.
It faithfully generates many of the common stylized features of asset markets.
To stabilize asset markets we propose two policies that Friedman would not likely endorse.
Francesco is also interested in how limits to arbitrage affect asset markets.
China needs much higher interest rates to cool its asset markets.
Throughout the 1950s, she pointed out, America experienced "healthy" growth and "sensible asset markets".
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