Similar Search Results

Keuschnigg, Christian; Kirschner, Linda; Kogler, Michael; … - 2021

Using a DSGE model with nominal wage rigidity, we investigate two scenarios for the Italian economy. The first considers sustained policy commitment to reform. The results indicate the possibility of 'growing out of bad initial conditions', if fiscal consolidation is combined with a program for...

Persistent link: https://www.econbiz.de/10013315307

Domestic Banks as Lightning Rods? Home Bias and Information During the Eurozone Crisis

Saka, Orkun - 2019

European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering the entire timeline of the Eurozone crisis, I...

Persistent link: https://www.econbiz.de/10012859050

Private Bank Deposits and Macro/Fiscal Risk in the Euro-Area

Arghyrou, Michael - 2019

tested hypotheses. They also reveal persistent fragmentation between EMU core and periphery banking systems caused by a … deficit of trust in periphery banking systems, unmitigated by the introduction of OMT and European Banking Union. Our findings …

Persistent link: https://www.econbiz.de/10012891054

Sovereign rating news and financial markets spillovers: Evidence from the European debt crisis

Arezki, Rabah; Candelon, Bertrand; Sy, Amadou - 2011

This paper examines the spillover effects of sovereign rating news on European financial markets during the period 2007-2010. Our main finding is that sovereign rating downgrades have statistically and economically significant spillover effects both across countries and financial markets. The...

Persistent link: https://www.econbiz.de/10010275006

Stock market integration between three CEECs, Russia and the UK

Caporale, Guglielmo Maria; Spagnolo, Nicola - 2010

Russia. The adopted framework allows to analyse interdependence by estimating volatility spillovers, and also contagion by … evidence on possible changes in the transmission mechanism (namely, on whether there is contagion) can be obtained by examining … spillovers between the three CEECs considered and the UK (contagion). …

Persistent link: https://www.econbiz.de/10010270472

Global liquidity, risk premiums and growth opportunities

De Nicolò, Gianni; Ivaschenko, Iryna - 2009

This paper constructs new indicators of liquidity for equity, bond and money markets in major advanced and emerging market countries, documents their evolution and co-movements, and assesses the extent to which such measures are determinants of selected spreads and proxy measures of countries'...

Persistent link: https://www.econbiz.de/10010272745

How national and international financial development affect industrial R&D

Maskus, Keith E.; Neumann, Rebecca; Seidel, Tobias - 2011

We examine the impacts of both domestic and international financial market development on R&D intensities in 22 manufacturing industries in 18 OECD countries for the period 1990- 2003. We take account of such industry characteristics as the need for external financing and the amount of tangible...

Persistent link: https://www.econbiz.de/10010274899

Market structure and the cost of capital

Arouri, Mohamed El Hedi; Rault, Christophe; Sova, Robert; … - 2013

We contribute to the finance literature in two main ways. First, we present a theoretical capital asset pricing model (CAPM) to price assets in different market structures. Second, we use our model to analyze whether when markets are partially segmented using the local or the global CAPM yields...

Persistent link: https://www.econbiz.de/10010291538

Financial Integration in the GCC Region : Market Size Versus National Effects

Arin, K. Peren - 2019

This paper examines financial spillovers between the four largest equity markets (by market capitalization) in the GCC region using a VAR-GARCH (1,1) framework that sheds light on interdependence as well as the effects of the 2014 oil crisis. Since the UAE is a federation including two stock...

Persistent link: https://www.econbiz.de/10012867875

Intraday Effect of News on Emerging European Forex Markets : An Event Study Analysis

Kočenda, Evžen - 2018

We analyze the impact of Eurozone/Germany and U.S. macroeconomic news announcements and the communication of the monetary policy settings of the ECB and the Fed on the forex markets of new EU members. We employ an event study methodology to analyze intra-day data from 2011–2015. Our...

Persistent link: https://www.econbiz.de/10012908658