We examine the dynamic relation between credit risk and liquidity in the Italian sovereign
bond market during the eurozone crisis and the subsequent European Central Bank (ECB) …

The London Interbank Offered Rate (LIBOR), the predominant family of global short-term
rate benchmarks for the past 40 years, ceased to exist in June 2023. Given the low volumes …

We model the design of a benchmark fixing as an estimator of fair market value. The fixing
data are the transactions of agents whose profits depend on the fixing, implying incentives …

We survey a growing field studying aspects of finance that are potentially illegal, illicit, or
immoral. Some of the literature is investigative in nature to uncover malfeasance that is …

I examine the behavior of forex prices around the setting of the 4: 00 pm WMR Fix.
Numerous banks have been fined by regulators for their trading activities around the Fix, but …

Using comprehensive data on London Interbank Offer Rate (Libor) submissions from 2001
through 2012, we provide evidence consistent with banks manipulating Libor to profit from …

The investigations into the London Interbank Offered Rate (LIBOR) have highlighted that it is
subject to manipulation. We examine a new method for constructing LIBOR that produces an …

This paper studies manipulation in derivative contract markets. When traders hedge factor
risk using derivative contracts, traders can manipulate settlement prices by trading the …

We examine whether a concentrated interbank market stimulates bank collusion or
monopolistic pricing towards enhancing performance. We explore this nexus by …

The manipulation of the Euro Interbank Offered Rate (Euribor) was an affair which had a
great impact on international financial markets. This study tests whether advanced data …