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Benigno, Gianluca; Rosa, Carlo - 2023

This paper investigates the link between Bitcoin and macroeconomic fundamentals by estimating the impact of macroeconomic news on Bitcoin using an event study with intraday data. The key result is that, unlike other U.S. asset classes, Bitcoin is orthogonal to monetary and macroeconomic news....

Persistent link: https://www.econbiz.de/10013548985

External and public debt crises

Arellano, Cristina; Atkeson, Andrew; Wright, Mark - 2015

The recent debt crises in Europe and the U.S. states feature similar sharp increases in spreads on government debt but also show important differences. In Europe, the crisis occurred at high government indebtedness levels and had spillovers to the private sector. In the United States, state...

Persistent link: https://www.econbiz.de/10011460678

Bond pricing and the macroeconomy

Duffee, Gregory R. - 2012

This chapter reviews some of the academic literature that links nominal and real term structures with the macroeconomy. The main conclusion is that none of our models is consistent with basic properties of nominal yields. It is difficult to explain the average shape of the nominal yield curve,...

Persistent link: https://www.econbiz.de/10010397776

The effectiveness of nonstandard monetary policy measures : evidence from survey data

Altavilla, Carlo; Giannone, Domenico - 2015

We assess the perception of professional forecasters regarding the effectiveness of unconventional monetary policy measures announced by the U.S. Federal Reserve after the collapse of Lehman Brothers. Using survey data collected at the individual level, we analyze the change in forecasts of...

Persistent link: https://www.econbiz.de/10011399333

Beyond thirty : treasury issuance of long-term bonds from 1953 to 1965

Garbade, Kenneth D. - 2017

Ever since the emergence of regular and predictable issuance of coupon-bearing Treasury debt in the 1970s, thirty years has marked the outer boundary of Treasury bond maturities. However, longer-term bonds were not unknown in earlier years. Seven such bonds, including one with a forty-year term,...

Persistent link: https://www.econbiz.de/10011586602

Too big to fail after all these years

Morgan, Donald P. (contributor); … - 2005

Persistent link: https://www.econbiz.de/10003108718

The international monetary (non-)order and the global capital flows paradox

Bibow, Jörg - 2008

This paper sets out to investigate the forces behind the so-called "global capital flows paradox" and related "dollar glut" observed in the era of advancing financial globalization. The supposed paradox is that the developing world has increasingly come to pursue policies that result in current...

Persistent link: https://www.econbiz.de/10010266438

AIG in hindsight

McDonald, Robert; Paulson, Anna - 2014

The near-failure on September 16, 2008, of American International Group (AIG) was an iconic moment in the financial crisis. The decision to rescue AIG was controversial at the time and remains so. Large bets on real estate pushed AIG to the brink of bankruptcy. In one case, AIG used securities...

Persistent link: https://www.econbiz.de/10011460674

Financialisation and stagnation: A macroeconomic regime perspective

Hein, Eckhard - 2020

In this contribution we link the recently re-discovered tendencies towards stagnation with the features of financialisation, which have started to dominate developed capitalist economies in the early 1980s. We review the main macroeconomic channels of transmission of financialisation-namely, the...

Persistent link: https://www.econbiz.de/10012292734

Spillovers from Euro Area and U.S. Credit and Demand Shocks: Comparing Emerging Europe on the Basis of a GVAR Model

Fadejeva, Ludmila; Feldkircher, Martin; Reininger, Thomas - 2015

We examine the international effects of adverse loan supply and aggregate demand shocks originating in the euro area … shocks in the euro area and in the U.S.A. Last, historical decompositions of deviations from trend growth show that for the … euro area developments, foreign shocks originating in the U.S.A., the UK and the CESEE and CIS regions feature most …

Persistent link: https://www.econbiz.de/10013370115