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Global Liquidity : Drivers, Volatility and Toolkits
Goldberg, Linda S. - National Bureau of Economic Research - 2023
Global liquidity refers to the volumes of financial flows - largely intermediated through global banks and non-bank financial institutions - that can move at relatively high frequencies across borders. The amplitude of responses to global conditions like risk sentiment, discussed in the context...
Persistent link: https://www.econbiz.de/10014322743
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Arbitrage Capital of Global Banks
Anderson, Alyssa G.; Du, Wenxin; Schlusche, Bernd - National Bureau of Economic Research - 2021
We show that the role of unsecured, short-term wholesale funding for global banks has changed significantly in the post-financial-crisis regulatory environment. Global banks mainly use such funding to finance liquid, near risk-free arbitrage positions--in particular, the interest on excess...
Persistent link: https://www.econbiz.de/10012510537
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Global Banks and Systemic Debt Crises
Morelli, Juan M.; Ottonello, Pablo; Perez, Diego J. - National Bureau of Economic Research - 2021
We study the role of global financial intermediaries in international lending. We construct a model of the world … regular business cycles. The portfolio of financial intermediaries and the distribution of bond holdings in the world economy …
Persistent link: https://www.econbiz.de/10012585376
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Financial Crises and the Global Supply Network : Evidence from Multinational Enterprises
Basco, Sergi; Felice, Giulia; Merlevede, Bruno; … - National Bureau of Economic Research - 2023
This paper empirically examines the effects of financial crises on the organization of production of multinational enterprises. We construct a panel of European multinational networks from 2003 through 2015. We use as a financial shock the increase in risk premia between August 2007 and July...
Persistent link: https://www.econbiz.de/10014287317
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Global Pricing of Carbon-Transition Risk
Bolton, Patrick; Kacperczyk, Marcin - National Bureau of Economic Research - 2021
levels of carbon emissions (and higher annual changes)--in all sectors over three continents, Asia, Europe, and North America …
Persistent link: https://www.econbiz.de/10012482725
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COVID-19 Time-varying Reproduction Numbers Worldwide : An Empirical Analysis of Mandatory and Voluntary Social Distancing
Chudik, Alexander; Pesaran, M. Hashem; Rebucci, Alessandro - National Bureau of Economic Research - 2021
This paper estimates time-varying COVID-19 reproduction numbers worldwide solely based on the number of reported infected cases, allowing for under-reporting. Estimation is based on a moment condition that can be derived from an agent-based stochastic network model of COVID-19 transmission. The...
Persistent link: https://www.econbiz.de/10012510508
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Were COVID and the Great Recession Well-being Reducing?
Blanchflower, David G.; Bryson, Alex - National Bureau of Economic Research - 2023
We show individuals' reports of subjective well being in Europe did decline in the Great Recession and during the Covid …' expectations of the economy and the labor market. Neither the UN's Human Development Index (HDI) nor data used in the World … Happiness Report from the Gallup World Poll shifted much in response to negative shocks. The HDI has been rising in the last …
Persistent link: https://www.econbiz.de/10014322884
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The Female Happiness Paradox
Blanchflower, David G.; Bryson, Alex - National Bureau of Economic Research - 2022
Using data across countries and over time we show that women are unhappier than men in unhappiness and negative affect equations, irrespective of the measure used - anxiety, depression, fearfulness, sadness, loneliness, anger - and they have more days with bad mental health and more restless...
Persistent link: https://www.econbiz.de/10013172192
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The Puzzling Persistence of Financial Crises
Calomiris, Charles W.; Jaremski, Matthew S. - National Bureau of Economic Research - 2024
The high social costs of financial crises imply that economists, policymakers, businesses, and households have a tremendous incentive to understand, and try to prevent them. And yet, so far we have failed to learn how to avoid them. In this article, we take a novel approach to studying financial...
Persistent link: https://www.econbiz.de/10014512067
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Corporate Debt, Boom-Bust Cycles, and Financial Crises
Ivashina, Victoria; Kalemli-Ozcan, Sebnem; Laeven, Luc; … - National Bureau of Economic Research - 2024
Using a new dataset on sectoral credit exposures covering financial and non-financial sectors in 115 economies over the period 1940-2014, we document the following evidence that corporate debt plays a key role in explaining boom-bust cycles, financial crises, and slow macroeconomic recoveries:...
Persistent link: https://www.econbiz.de/10014512079