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September 2019

Group Meeting #9: Margin Requirements, Speculative Trading, and Stock Price Fluctuations: The Case of Japan

DateTimePresenterLocation
Sunday, August 25, 2019
(03 Shahrivar 1398)
12:30 – 13:30Khatam University (@ 17 Daneshvar), 7th Floor, Seminar Room

“An increase in margin requirements in the First Section of the Tokyo Stock Exchange is followed by a decline in margin borrowing, trading volume, the proportion of trading performed through margin accounts, the growth in stock prices, and the conditional volatility of daily returns. The nonmarginable Second Section stocks show a smaller change in volatility and only a delayed weak price response. The hypothesis that margin requirements restrict the behavior of destabilizing speculators can explain these correlations but cannot explain the observation that individuals, the most active users of margin funds, appear to be good market timers.”

Required Reading(s)Margin Requirements, Speculative Trading, and Stock Price Fluctuations: The Case of Japan

 

Selected Topics in Public Finance “Short Course”

Dr. Ali Shourideh

Assistant Professor of Economics at Tepper School of Business

Carnegie Mellon University

Overview
  • How should governments design their tax policies optimally? What are the determinants of social insurance policies and welfare programs? In this class, we review the basic tools of public finance and optimal taxation with an emphasis on social insurance and redistribution. We apply these methods to study unemployment insurance, universal basic income, etc., both theoretically and quantitatively.
Biography
  • Ali Shourideh is an Assistant Professor of Economics and Frank A. and Helen E. Risch Faculty Development Professor of Business at Carnegie Mellon University, Tepper School of Business. He conducts research in the fields of macroeconomics, public finance, and contract theory. In his research, he has studied optimal taxation of various forms of income and expenditure in presence of international trade and specific knowledge about technology as well as determinants of sovereign debt and government pensions when governments have redistributional motives. He has also studied markets with adverse selection and the role of imperfect competition and learning in such markets. Professor Shourideh received his B.S. in Mechanical Engineering from the Sharif University of Technology in Tehran, Iran, and his Ph.D. in Economics from the University of Minnesota. Previously, he has taught at New York University and Wharton School, University of Pennsylvania.

Selected Topics in Public Finance «Short Course»

Dr. Ali Shourideh

Assistant Professor of Economics at Tepper School of Business

Carnegie Mellon University

Overview
Biography

Registration Info

  • Registration fee:

    • Students, 100,000 Tomans
    • Others, 200,000 Tomans
  • This course will be presented in Farsi.

  • Deadline: 5th September, 2019

  • Limitted Scholarships are Available.