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Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 1994

Regressions of ex-post changes in floating exchange rates on appropriate interest differentials typically imply that … the high interest rate currency tends to appreciate - the `forward discount puzzle'. Using data from the European Monetary …, deviations from uncovered interest parity appear to vary in a way that is dependent upon the exchange rate regime. By using the …

Persistent link: https://www.econbiz.de/10005067597

Staying Afloat When the Wind Shifts: External Factors and Emerging-Market Banking Crises

Eichengreen, Barry; Rose, Andrew K - C.E.P.R. Discussion Papers - 1998

. In particular, high Northern interest rates are strongly associated with the onset of banking crises in developing …We analyse banking crises using a panel of macroeconomic and financial data for more than 100 developing countries from … 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions …

Persistent link: https://www.econbiz.de/10005792121

Heterogeneity of Preferences, Limited Commitment and Coalitions: Empirical Evidence on the Limits to Risk Sharing in Rural Pakistan

Dubois, Pierre - C.E.P.R. Discussion Papers - 2006

implications in rural Pakistan taking into account the heterogeneity of households' preferences. Our results show that exogenous …

Persistent link: https://www.econbiz.de/10005791230

German Bank Lending During Financial Crises: A Bank Level Analysis

Heid, Frank; Nestmann, Thorsten; Von Westernhagen, Natalja - C.E.P.R. Discussion Papers - 2005

This paper studies German bank lending during the Asian and Russian crises, using a bank level data set from the Deutsche Bundesbank. Our aim is to gain more insight into the pattern of German bank lending during financial crises in emerging markets. We find that German banks reacted to the...

Persistent link: https://www.econbiz.de/10005504386

M&As Performance in the European Financial Industry

Campa, José Manuel; Hernando, Ignacio - C.E.P.R. Discussion Papers - 2005

This paper looks at the performance record of M&As that took place in the European Union financial industry in the period 1998-2002. First, the paper reports evidence on shareholder returns from the merger. Merger announcements implied positive excess returns to the shareholders of the target...

Persistent link: https://www.econbiz.de/10005504600

Dollarization and Exchange Rate Fluctuations

Honohan, Patrick - C.E.P.R. Discussion Papers - 2007

indicated by interest rate spreads. While specific policy is needed to deal with the risks associated with dollarization, the …

Persistent link: https://www.econbiz.de/10005497830

Bankers and bank investors: Reconsidering the economies of scale in banking

Anderson, Ronald W.; Jõeveer, Karin - C.E.P.R. Discussion Papers - 2012

We study economies of scale in banking by viewing banks as combinations of financial and human capital that create … to bankers are particularly strong in banks with a relatively large share of non-interest income and that for the largest … banks a reduction of net interest margin is associated with an increase in bankers' rents. We find incorporating observable …

Persistent link: https://www.econbiz.de/10011083300

Financial Development and Technology Diffusion

Comin, Diego; Nanda, Ramana - C.E.P.R. Discussion Papers - 2014

We examine the extent to which financial market development impacts the diffusion of 16 major technologies, looking across 55 countries, from 1870 to 2000. We find that greater depth in financial markets leads to faster technology diffusion for more capital-intensive technologies, but only in...

Persistent link: https://www.econbiz.de/10011083521

A dynamic analysis of bank bailouts and constructive ambiguity

Eijffinger, Sylvester C W; Nijskens, Rob - C.E.P.R. Discussion Papers - 2012

Bailout expectations have led banks to behave imprudently, holding too little capital and relying too much on short term funding to finance long term investments. This paper presents a model to rationalize a constructive ambiguity approach to liquidity assistance as a solution to forbearance....

Persistent link: https://www.econbiz.de/10011083609

Banking and Trading

Boot, Arnoud W A; Ratnovski, Lev - C.E.P.R. Discussion Papers - 2012

We study the effects of a bank’s engagement in trading. Traditional banking is relationship-based: not scalable, long … scale restrictions in banking. …

Persistent link: https://www.econbiz.de/10011084287