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Thresholds in the Process of International Financial Integration
Kose, M. Ayhan - 2009
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10012463732
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Financial development and growth in the short and long run
Fisman, Raymond - 2004
"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...
Persistent link: https://www.econbiz.de/10010523015
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12th Interamerican Seminar on Economics : special issue
Edwards, Sebastian (contributor) - 2001
Persistent link: https://www.econbiz.de/10001636970
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Inflation and financial markets
1981
Persistent link: https://www.econbiz.de/10003162402
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Global Natural Rates in the Long Run : Postwar Macro Trends and the Market-Implied r* in 10 Advanced Economies
Davis, Joshua M.; Fuenzalida, Cristian; Huetsch, Leon; … - National Bureau of Economic Research - 2023
theory and previous findings …
Persistent link: https://www.econbiz.de/10014421212
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Financial Super-Markets : Size Matters for Asset Trade
Martin, Philippe - 2001
We introduce a new theoretical framework to analyze imperfectly competitive financial markets and trade in assets in an international context. We present a two-country macroeconomic model in which agents are risk averse, assets are imperfect substitutes, the number of financial assets is...
Persistent link: https://www.econbiz.de/10012470242
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International Risk Sharing is Better Than You Think (or Exchange Rates are Much Too Smooth)
Brandt, Michael W. - 2001
Exchange rates depreciate by the difference between the domestic and foreign marginal utility growths. Exchange rates vary a lot , as much as 10% per year. However, equity premia imply that marginal utility growths vary much more, by at least 50% per year. This means that marginal utility...
Persistent link: https://www.econbiz.de/10012470316
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Asymptotic Methods for Asset Market Equilibrium Analysis
Judd, Kenneth L. - 2001
General equilibrium analysis is difficult when asset markets are incomplete. We make the simplifying assumption that uncertainty is small and use bifurcation methods to compute Taylor series approximations for asset demand and asset market equilibrium. A computer must be used to derive these...
Persistent link: https://www.econbiz.de/10012470594
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The Market for Catastrophe Risk : A Clinical Examination
Froot, Kenneth A. - 2001
with natural hazards, such as hurricanes and earthquakes. Risk management theory suggests protection by insurers and other …, especially after cat events. We then examine clinical evidence to understand why the theory fails. Specifically, we examine … hints as to why the theory fails. We explore these hints in eight theoretical explanations and find the most compelling to …
Persistent link: https://www.econbiz.de/10012470619
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The Pricing of Event Risks with Parameter Uncertainty
Froot, Kenneth A. - 2001
Financial instruments whose payoffs are linked to exogenous events, such as the occurrence of a natural catastrophe or an unusual weather pattern depend crucially on actuarial models for determining event (e.g., default) probabilities. In many instances, investors appear to receive premiums far...
Persistent link: https://www.econbiz.de/10012470623