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UID:20251128T200056EST-06556lPcER@132.216.98.100
DTSTAMP:20251129T010056Z
DESCRIPTION:DESMARAIS GLOBAL FINANCE RESEARCH CENTRE\npresents\nDenis Gromb
 \nINSEAD and CEPR\nFinancially Constrained Arbitrage and Cross-Market\nCon
 tagion\nFriday\, October 16\, 2009\n10:00 AM – 11:30 AM\nBronfman Bldg.\, 
 Rm. 002\nAll are cordially invited to attend.\nAbstract: We propose a cont
 inuous time\ninfinite horizon equilibrium model of financial markets in wh
 ich\narbitrageurs have multiple valuable investment opportunities but\nfac
 e financial constraints. The investment opportunities\,\nheterogeneous alo
 ng different dimensions\, are provided by pairs of\nsimilar assets trading
  at different prices in segmented markets. By\nexploiting these opportunit
 ies\, arbitrageurs alleviate the\nsegmentation of markets\, providing liqu
 idity to other investors by\nintermediating their trades. We characterize 
 the arbitrageurs’\noptimal investment policy\, and derive implications for
  market\nliquidity and asset prices.\n
DTSTART:20091016T140000Z
DTEND:20091016T153000Z
SUMMARY:Desmarais Global Finance Research Centre
URL:/channels/event/desmarais-global-finance-research-
 centre-111354
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