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The severity of the 2007-2009 financial crisis, just like the emerging market crises of the 1990s, has raised the question as to whether modern liberalized financial markets are more of a curse...
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Stiglitz has argued that failures in financial markets have come about because of poorly designed incentive structures, inadequate competition and inadequate transparency. Part of this is because...
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Multifactor models seek to improve the explanatory power of single-factor models by explicitly accounting for the various systematic components of security risk.
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