Honohan, Patrick(University College Dublin. School of Economics, 1987-09)
Hicks suggested that a "constitutional weakness" at the long end of the bond market causes long yields to exceed short yields on average. This note argues that such a weakness would be accentuated by inflation and provides ...
Honohan, Patrick(University College Dublin. School of Economics, 1987-09)
Banks are seen as having informational advantages in the market for risky securities. The competitive implications of these advantages are explored in a model of asset prices. The impact of capital adequacy requirements ...
Honohan, Patrick(University College Dublin. School of Economics, 1987-10)
A Ponzi scheme is an arrangement whereby a promoter offers an investment opportunity with attractive dividends, but where the only basis for the dividends is the future receipts from new investors. The first of these two ...