This study examines the impact of credit rating upgrades and downgrades on six comprehensive banks’ asset classes, profitability, leverage and size using data from the Federal Deposit Insurance Corporation’s call reports and Bloomberg over the period 1989-2008. In summary, the results...

Using a number of theoretical considerations, we define distinct periods of anxiety for key economic agents that are involved in lending decisions; namely, consumers, CEOs, and banks. The main characteristic of anxious periods is that the perceptions and expectations about economic conditions...

Employing a unique data set for the period 2000-2010, this paper examines the impact of enforcement actions (sanctions) on bank capital, risk, and performance. We find that high risk weighted asset ratios tend to attract supervisory intervention. Sanctions whose cause lies at the core of bank...

We contend that economic preferences over risk-taking in different subnational regions worldwide affect fundamental aspects of firms’ corporate financing, namely financing costs and capital structure. We study this hypothesis, by hand-matching firms’ regions worldwide with the corresponding...

This paper empirically assesses whether monetary policy affects real economic activity through its affect on the aggregate supply side of the macroeconomy. Analysts typically argue that monetary policy either does not affect the real economy, the classical dichotomy, or only affects the real...

This paper investigates how explicit structural shocks that characterize the endogenous character of oil price changes affect stock-market returns in a sample of eight countries --- Australia, Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. For each country, the...

The objective of this paper is to investigate the behaviour of various CPI components in terms of their spillover behaviour. This is the first study analyzing the causal relationship between CPI components in Greece. The empirical analysis uses data on different components of the Consumer Price...

This paper investigates spillovers between electricity supply shocks and US growth, using monthly data from 48 US States, spanning the period January 2001-September 2016, while employs a novel strategy for electricity supply shocks based on a time-varying Bayesian panel VAR model. It accounts...

This paper examines the asymmetric impact of globalisation and economic growth on energy consumption in BRICS countries, applying the NARDL bounds approach to explore the presence of asymmetric cointegration across variables. The empirical results reveals that energy consumption is positively...

This study explores the relationship between carbon dioxide (CO2) emissions, economic growth, renewable energy consumption, the number of tourist arrivals and trade in Central and South America spanning the period 1995-2010. We apply panel cointegration techniques and panel Granger causality...