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Samuelson's Dictum and the Stock Market
Samuelson has offered the dictum that the stock market is "micro efficient" but "macro inefficient." That is, the efficient markets hypothesis works much better for individual stocks than it does forExpand
Economies of Scale and Scope in Korea
This paper examines the efficiency of the Korean banking industry by studying both economies of scale and scope. The Fourier cost function, which is globally flexible, was used to estimate severalExpand
Economies of Scale and Scope in Korea's Banking Industry: Evidence from the Fourier Flexible Form *
This paper examines the efficiency of the Korean banking industry by studying both economies of scale and scope. The Fourier cost function, which is globally flexible, was used to estimate severalExpand
One Simple Test of Samuelson's Dictum for the Stock Market
Samuelson (1998) offered the dictum that the stock market is "micro efficient" but "macro inefficient." That is, the efficient markets hypothesis works much better for individual stocks than it doesExpand
금융기관 정리체계의 국제 동향 및 시사점 (Recent Development of Resolution Regimes for Financial Institutions and the Proposals for Korea)
<b>Korean Abstract:</b> 세계적 금융위기 이후 국제적인 대형 금융기관의 도산이 잇따르면서 금융기관 정리의 혼란 및 비효율성과 공적자금에 의한 구제금융의 문제점에 대한 각계의 비판이 제기되었다. 이에 국제적으로 금융기관 정리체계에 대한 관심이 크게 증대되었으며, 주요국을 중심으로 관련 정책들이 심도 있게 논의되어 도입되는 추세에 있다.Expand
A Deposit Insurer's Handling a Systemic Crisis
The 2007/2008 global financial crisis is said to be the severest after the Great Depression in the 1930’s. It was shown how the crisis spread rapidly from originating countries like the U.S. and theExpand
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