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Market efficiency in the emerging securitized real estate markets

Schindler, Felix - 2010

This paper tests the random walk hypothesis and market efficiency for twelve emerging as well as for four developed securitized real estate markets from 1992 to 2009. Random walk properties of equity prices influence return dynamics, and market efficiency is often considered an essential...

Persistent link: https://www.econbiz.de/10003969878

Escape routes from sovereign default risk in the euro area

Semmler, Willi; Proaño Acosta, Christian - 2015

dynamics of output, sovereign debt and financial stress in some euro area and other industrialized countries. …

Persistent link: https://www.econbiz.de/10010498572

How efficient is the U.K. housing market?

Schindler, Felix - 2010

Extending the controversial findings from the relevant literature, the results from the quarterly transaction-based Nationwide indices from 1974 to 2009 provide further empirical evidence on the rejection of the weak-form version of efficiency in the U.K. housing market. In addition to...

Persistent link: https://www.econbiz.de/10003969872

Dollar Exchange Rate volatility and Productivity Growth in Emerging Markets: Evidence from Firm Level Data

Eklou, Kodjovi - 2023

This paper examines the impact of Dollar exchange rate volatility on firm productivity in Emerging Markets economies (EMs). Using firm level data covering 16 EMs over the period 1998 -2019, the paper shows that dollar exchange rate volatility reduces firm productivity growth. Exploring channels,...

Persistent link: https://www.econbiz.de/10015059411

Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia

Kass-Hanna, Tannous - 2023

Empirical (employing the Blanchard-Perotti framework) and modeling (using a country-specific DSGE model) approaches are used to estimate fiscal multipliers by policy instrument for Bolivia, to evaluate possible adjustments in a fiscal consolidation strategy. Multipliers are also estimated using...

Persistent link: https://www.econbiz.de/10015058920

Policy Credibility and Sovereign Credit--The Case of New EU Member States

Kumar, Manmohan S. - 2007

References to policy credibility, particularly with regard to fiscal policy, are ubiquitous in both economic literature and financial markets, even though it is not directly observable. The case of the EU new member states (NMS)-emerging markets joining a supranational entity that is generally...

Persistent link: https://www.econbiz.de/10012677845

The Costs of Sovereign Default

Borensztein, Eduardo - 2008

This paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic...

Persistent link: https://www.econbiz.de/10012677667

Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets

Gupta, Sanjeev - 2008

Using a panel of 30 emerging market economies from 1997 to 2007, this paper investigates the determinants of country risk premiums as measured by sovereign bond spreads. Unlike previous studies, the results indicate that both fiscal and political factors matter for credit risk in emerging...

Persistent link: https://www.econbiz.de/10012677688

Euro Area Sovereign Risk During the Crisis

Zoli, Edda - 2009

While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy … perspective, to what extent do movements in euro area sovereign spreads reflect country-specific solvency concerns? In line with … previous studies, the paper suggests that euro area sovereign risk premium differentials tend to comove over time and are …

Persistent link: https://www.econbiz.de/10012677887

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis

Fund, International Monetary - 2012

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....

Persistent link: https://www.econbiz.de/10012677547

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