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This study uses a vector error correction (VEC) model to examine price-volume relation-ships between open outcry and e-trading at the Chicago Board of Trade. We test whether equilibrium price corrections on one system are independent of the other, and whether this price behavior is more sensitive

Diron, M. 2008. “Short-term forecasts of Euro area real GDP growth: an

investigate lack publicly traded options. 11 Thus, we are forced to use the best available substitute: changes in the VIX index, VIX t , which corresponds to a weighted average of eight implied volatilities of near-the-money options on the OEX (S&P 100) index. 12 These data are provided by the Chicago

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Manipulation, monopoly, and the Chicago Board of Trade’s transition from self-

That the Chicago Board of Education adopt the amended policy on high school promotion. POLICY TEXT:

volume indicates. Index options give market participants the ability to participate in anticipated market movements without having to buy or sell a large number of securities, and they permit portfolio managers to limit downside risk. Given their prominence and functions, the pricing efficiency of these markets is of great importance to academics, practitioners, and regulators. Well-functioning financial markets are vital to a thriving economy because these markets facilitate price discovery, risk hedging, and allocating capital to its most productive uses. Inefficient pricing of index options indicates that their market (and, possibly, other financial markets) is not doing the best possible job at these important functions. To detect

for providing mutual fund data, and to the Chicago GSB Initiative on Global Markets for financial support. This paper uses social networks to identify information transfer in security markets. We focus on connections between mutual fund managers and corporate board members via shared education networks. We find

or the Board of Governors. References in publications to the Finance and Economics Discussion Series (other than acknowledgement) should be cleared with the author(s) to protect the tentative character of these papers. Expectations of risk and return among household investors: Are their Sharpe ratios