This study investigates the return spillovers and volatility spillovers from developed markets (e.g., Europe, Japan and the US) into the financial markets of selected emerging countries in Asia and the Middle East and North Africa (MENA) region. Based on constant and trend spillover models, we...

In this paper, we examine possible macro-level determinants underlying the number of trips emigrants make back home by exploiting a panel of data comprising 25 countries over the period 1995-2010. To guide the empirical work, we first construct a simple model of the decision by emigrants to...

Islamic banks are characterized by their compliance with Islamic laws and practices, primarily the prohibition of interest and the trading of loans. During the 2008–2009 financial crisis, when a large number of conventional banks announced bankruptcy, no Islamic bank failures were reported....

Islamic banks are characterized by their compliance with Islamic laws and practices, the main ones being the prohibition of interest and loan trading. Remarkably, during the 2008-2009 financial crisis, when a large number of conventional banks have announced bankruptcy, no single Islamic bank...

Islamic banks are characterized by their compliance to Islamic laws and practices, primarily the prohibition of interest and the trading of loans. During the 2008–2009 financial crisis, when a large number of conventional banks announced bankruptcy, no Islamic bank failures were reported....

We investigate risk sharing channels across different economic sectors to quantify to what extent they contribute offsetting idiosyncratic shocks. We examine the two most relevant channels of smoothing among OECD and EU countries: the international investment income and the savings channels. We...

In the wake of monetary unification euro area bond and equitymarkets have become increasingly integrated. As an evidence of integration in those markets, the volume of international financial asset trading increased considerably. Nevertheless, the substantial decline in home bias among the...

Using cumulative confirmed cases of Covid-19 covering 163 countries, this paper tests several hypotheses that have received extensive attention in the popular media and academic research during the ongoing coronavirus pandemic. Our goal is to identify lessons for designing better public health...