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Selling (buying) a country’s equity index in exchange for equity investments elsewhere during a stock market crash (boom) is analogous to exercising an option to exchange an underperforming country (global benchmark) index for a global benchmark (country) index. This can be shown by extending...
Persistent link: https://www.econbiz.de/10014203667
Selling (buying) a country's equity index in exchange for equity investments elsewhere during a stock market crash (boom) is analogous to exercising an option to exchange an underperforming country (global benchmark) index for a global benchmark (country) index. This can be shown by extending an...
Persistent link: https://www.econbiz.de/10013004542
leverage and asset volatility. We conclude that the bilateral cross-sector exposures in the euro area financial system … financial intermediaries playing a key role in the processes. High financial leverage and high asset volatility are found to …
Persistent link: https://www.econbiz.de/10013153431
leverage and asset volatility. We conclude that the bilateral cross-sector exposures in the euro area financial system … financial intermediaries playing a key role in the processes. High financial leverage and high asset volatility are found to …
Persistent link: https://www.econbiz.de/10003969268
Persistent link: https://www.econbiz.de/10010481879
in a simple growth model by highlighting real option effects. We endogenize the drift rate of real option by connecting … sector and show the different implications of idiosyncratic and aggregate uncertainty on growth dynamics. …
Persistent link: https://www.econbiz.de/10011399007
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