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Foreign fund flows and equity prices during the Covid-19 pandemic : evidence from India
Acharya, Viral V.; Anshuman, V. Ravi; Kiran Kumar, K. - 2022
We study the period of the COVID-19 pandemic to assess the impact of foreign institutional investor (FII) flows on asset prices in an emerging market. Using a dataset of stock-level foreign fund flows of Indian equities, we show that stocks experiencing abnormally high innovations in foreign...
Persistent link: https://www.econbiz.de/10013334977
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The seeds of a crisis : a theory of bank liquidity and risk taking over the business cycle
Acharya, Viral V.; Naqvi, Hassan - In: Journal of financial economics 106 (2012) 2, pp. 349-366
Persistent link: https://www.econbiz.de/10009666634
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The Seeds of a Crisis : A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle
Acharya, Viral V. - 2013
We examine how the banking sector may ignite the formation of asset price bubbles when there is access to abundant … liquidity. Inside banks, given lack of observability of effort, loan officers (or risk takers) are compensated based on the … macroeconomic risk, investors reduce direct investment and hold more bank deposits. This ‘flight to quality’ leaves banks flush with …
Persistent link: https://www.econbiz.de/10013094075
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Online Appendix of 'The Seeds of a Crisis : A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle'
Naqvi, Hassan - 2011
Persistent link: https://www.econbiz.de/10013132823
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When is Sovereign Debt Odious? A Theory of Government Repression, Growth Traps, and Growth Boosts
Acharya, Viral V.; Rajan, Raghuram G.; Shim, Jack - 2022
We examine the dynamics of a country’s growth, consumption, and sovereign debt, assuming that the government is myopic and wants to maximize short-term, self-interested spending. Surprisingly, government myopia can increase a country’s access to external borrowing. In turn, access to...
Persistent link: https://www.econbiz.de/10014078840
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Market failures and regulatory failures : lessons from past and present financial crises
Acharya, Viral V.; Cooley, Thomas F.; Richardson, Matthew; … - 2011
case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector due to … mispriced government guarantees; regulatory focus on individual institution risk rather than systemic risk; opacity of positions …
Persistent link: https://www.econbiz.de/10008907804
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Market Failures and Regulatory Failures : Lessons from Past and Present Financial Crises
Acharya, Viral V. - 2011
presents a case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector … due to mispriced government guarantees; regulatory focus on individual institution risk rather than systemic risk; opacity …
Persistent link: https://www.econbiz.de/10013130373
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Financial Vulnerability and Risks to Growth in Emerging Markets
Acharya, Viral V. - 2020
in their business cycles relative to those of advanced economies. Information on the domestic price of risk, cost of …
Persistent link: https://www.econbiz.de/10012481606
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Financial Vulnerability and Risks to Growth in Emerging Markets
Acharya, Viral V. - 2020
in their business cycles relative to those of advanced economies. Information on the domestic price of risk, cost of …
Persistent link: https://www.econbiz.de/10012831744
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Capital Flow Management with Multiple Instruments
Acharya, Viral V. - 2018
We examine theoretically the role of reserves management and macro-prudential capital controls as ex-post and ex-ante safeguards, respectively, against sudden stops, and argue that these measures are complements rather than substitutes. Absent capital controls, reserves to be deployed ex post...
Persistent link: https://www.econbiz.de/10012453271