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Softening the blow: U.S. state-level banking deregulation and sectoral reallocation after the China trade shock
Hoffmann, Mathias; Ruslanova, Lilia - 2020
U.S. state-level banking deregulation during the 1980's mitigated the impact of the China trade shock (CTS) on local economies (states and commuting zones) a decade later, in the 1990s. Local economies, where local banking markets opened up earlier, were also effectively financially more...
Persistent link: https://www.econbiz.de/10012294281
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Softening the blow: U.S. state-level banking deregulation and sectoral reallocation after the China trade shock
Hoffmann, Mathias; Ruslanova, Lilia - 2021
U.S. state-level banking deregulation during the 1980's mitigated the impact of the China trade shock (CTS) on local economies (states and commuting zones) a decade later, in the 1990s. Local economies, where local banking markets opened up earlier, were also effectively financially more...
Persistent link: https://www.econbiz.de/10012513586
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The Home Bias in Equities and Distribution Costs
Harms, Philipp; Hoffmann, Mathias; Ortseifer, Christina - 2010
We show that including distribution costs into a general equilibrium model of international portfolio choice contributes to explaining the "home bias" in international equity investment. Our model is able to replicate observed investment positions for a wide range of parameter values, even if...
Persistent link: https://www.econbiz.de/10011430091
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Systematic consumption risk in currency returns
Hoffmann, Mathias; Suter, Rahel - 2013
We sort currencies into portfolios by countries' consumption growth over the past year. The excess return of the highest-consumption-growth currency portfolio over the portfolio of lowest-consumption-growth currencies is positive on average, compensating investors for large negative returns...
Persistent link: https://www.econbiz.de/10010316899
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Non-US global banks and dollar (co-)dependence: How housing markets became internationally synchronized
Ehlers, Torsten; Hoffmann, Mathias; Raabe, Alexander - 2020
capital inflows improves (tightens) US dollar funding conditions for non-US global banks, leading them to increase (decrease …. Importantly, this synchronization is driven by non-US global banks' common but heterogenous exposure to US dollar funding … international transmission of US dollar funding conditions: As these conditions vary over time, borrowing country pairs whose non …
Persistent link: https://www.econbiz.de/10012420688