This file was created by CMPT_ME_BEME_RETS_DAILY using the 201512 CRSP database.
The Tbill return is the simple daily rate that
in the month
Mispricing, Liquidity, Financial Crisis
1. Limits to arbitrage including short sales constraints, margin calls, investors bailing
out, limited capital etc.
(a) Focus on mis-pricings
(b) But why are prices wrong in the first place?
(c) Where are th