LIBROS DEL AUTOR: gevorg hunanyan

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  • The Consequences of Short-Sale Constraints on the Stability of Financial Markets
    Gevorg Hunanyan
    Gevorg Hunanyan develops a model that provides a comprehensive theoretical framework to study the consequences of short-sale constraints on the stability of financial markets. This model shows that overpricing of securities is solely attributable to the subjective second moment beliefs of investors. Thus, short-sale constraints prevent a market decline only if investors have lo...
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