On the importance of the participation margin for labor market fluctuations,” mimeo... In contrast, a flows-based decomposition of the variation in labor market stocks reveals that transitions at the participation margin account for around one-third of the cyclical variation in the unemployment rate....
Cash dividends and futures prices on discontinuous filtrationsWe derive a general formula for the futures price process without the restriction that the assets used in the future margin account are continuous and of finite variation....
Cash dividends and futures prices on discontinuous filtrationsWe derive a general formula for the futures price process without the restriction that the assets used in the future margin account are continuous and of finite variation....
Hedging under liquidity constraints... In practice,management of the counterparty risk in derivative transactions is of enhancedimportance, consequently not only is trading on exchanges subject to the presenceof a margin account, but also in bilateral (OTC) agreements parties willrequire margins or collateral from their partners in order to hedge the mark-tomarket loss of the transaction....
