Showing 1 - 7 of 7
Persistent link: https://www.econbiz.de/10003354678
We study the relationship between credit expansions, macroeconomic fluctuations, and financial crises using a novel database on the sectoral distribution of private credit for116 countries starting in 1940. Theory predicts that the sectoral allocation of credit matters for distinguishing between...
Persistent link: https://www.econbiz.de/10013241546
An extensive literature studies interactions of stock market anomalies using double-sorted portfolios. But given hundreds of known candidate anomalies, examining selected interactions is subject to a data mining critique. In this paper, we conduct a comprehensive analysis of all possible...
Persistent link: https://www.econbiz.de/10012828845
This paper argues that the distribution of the coefficients of the regular continued fraction should be considered for each algebraic number of degree 2 separately. For random numbers the coefficients are distributed by the Gauss-Kuzmin distribution (also called Khinchin's law). We apply the...
Persistent link: https://www.econbiz.de/10012545138
Persistent link: https://www.econbiz.de/10015359390
We study bank runs using a novel historical cross-country dataset that covers 184 countries over the past 200 years and combines a new narrative chronology with statistical indicators of bank deposit withdrawals. We document the following facts: (i) the unconditional likelihood of a bank run is...
Persistent link: https://www.econbiz.de/10015052095