Showing 1 - 10 of 26
The financial crisis provides an ideal setting to study how quality signalling by firms, and information asymmetries, might explain the stock price reactions around seasoned equity offerings. The heightened information asymmetry levels during the GFC should have increased the importance of...
Persistent link: https://www.econbiz.de/10011077086
This paper empirically investigates the asymmetric effect of news on the time-varying beta of selected banks from seven European countries during the current crisis period and also during the pre-crisis period. The paper applies daily data from thirteen large banks from France, Germany, Greece,...
Persistent link: https://www.econbiz.de/10011077093
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We evaluate the impact of the global financial crisis (GFC) and recent structural changes in the patterns of hoarding international reserves (IR). We confirm that the determinants of IR hoarding evolve with developments in the global economy. During the pre-GFC period of 1999–2006, gross...
Persistent link: https://www.econbiz.de/10011208913
This paper evaluates how the global financial crisis emanating from the U.S. was transmitted to emerging markets. Our focus is on the extent that the crisis caused external market pressures (EMP), and whether the absorption of the shock was mainly through exchange rate depreciation or the loss...
Persistent link: https://www.econbiz.de/10011048431
In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in the recent decades. Liberalization of capital outflow controls can allow emerging market economies (EMEs) to reduce net capital inflow (NKI) pressures, but...
Persistent link: https://www.econbiz.de/10011048467
This paper studies how within- and cross-country capital market imperfections affect the welfare effects of forming a currency union. The analysis considers a bank-only world where intermediaries compete in Cournot fashion and monitoring and state verification are costly. The first part...
Persistent link: https://www.econbiz.de/10011048495
This paper reviews the special issue “Policy Implications of and Lessons from the Global Financial Crisis,” and its themes: Global liquidity and the use of international reserves; real and financial economic patterns before and during the global financial crisis.
Persistent link: https://www.econbiz.de/10011048519