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Are Credit Ratings Valuable Information?
Kraft, Kornelius; Czarnitzki, Dirk - 2004
available information. Subsequently, we additionally use a credit rating and show that it contributes significantly to the … has a weak rating. …
Persistent link: https://www.econbiz.de/10010297323
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Does it Pay to Watch Central Bankers' Lips? The Information Content of ECB Wording
Heinemann, Friedrich; Ullrich, Katrin - 2005
In this analysis, the informational content of central bank rhetoric is assessed based on the experience with the ECB since 1999. Among the ECB?s communication channels we focus on the monthly press conferences. Based on a counting of certain signal words we construct a wording indicator...
Persistent link: https://www.econbiz.de/10010297482
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Inflation Expectations of Experts and ECB Communication
Ullrich, Katrin - 2007
The communication policy of the European Central Bank attracts a lot of attention from financial markets. This paper analyses the informational content of the monthly introductory statements of the ECB president explaining interest rate decisions with regard to inflation expectations of...
Persistent link: https://www.econbiz.de/10010297941
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Climate policy induced investments in developing countries: the implications of investment risks
Böhringer, Christoph; Löschel, Andreas - 2002
International climate policy has assigned the leading role in emissions abatement to the industrialized countries while developing countries remain uncommitted to binding emission reduction targets. However, cooperation between the industrialized and the developing world through joint...
Persistent link: https://www.econbiz.de/10010297330
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Do temporary workers receive risk-premiums? Assessing the wage effects of fixed-term contracts in West-Germany by matching estimators compared with parametric apporaches
Hagen, Tobias - 2001
The wage effects of fixed-term contracts (FTCs) are analysed with the GSOEP for West Germany. Different estimators which take into account selection bias are used. It is shown that propensity score matching estimators which are usually applied for the evaluation of active labour market...
Persistent link: https://www.econbiz.de/10010297808
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International Stock Return Predictability Under Model Uncertainty
Schrimpf, Andreas - 2008
This paper examines return predictability when the investor is uncertain about the right state variables. A novel feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the predictive regressions. Drawing on an extensive...
Persistent link: https://www.econbiz.de/10010298059
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How integrated are the European retail financial markets? A cointegration analysis
Heinemann, Friedrich; Schüler, Martin - 2002
With the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are considered to be highly integrated within the European Union. However, integration in retail financial markets is less advanced. For measuring financial market integration this...
Persistent link: https://www.econbiz.de/10010298099
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Linkages between international securitized real estate markets: Further evidence from time-varying and stochastic cointegration
Schindler, Felix; Voronkova, Svitlana - 2010
This paper analyzes long-run co-movements between international real estate stock markets and between regions based on bivariate and multivariate tests for cointegration. While the topic has been analyzed in previous studies such as Gallo and Zhang (2009) and Yunus (2009) among others, this...
Persistent link: https://www.econbiz.de/10010301690
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Options, Futures, and Other Derivatives in Russia: An Overview
Rotfuß, Waldemar - 2007
exchange-traded and over-the-counter-traded derivatives in Russia show that the Russian derivatives markets experienced …-traded derivatives in Russia rose from 2000 to 2006 on average 168 percent per year and reached a total turnover of EUR 102 billion in … Russia. Turnover of exchange-traded derivatives on interest rates, bonds or even commodities represent only a very small …
Persistent link: https://www.econbiz.de/10010297949
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To raise or not to raise? Impact assessment of Russia's incremental gas price reform
Heyndrickx, Christophe; Alexeeva-Talebi, Victoria; … - 2012
The growing momentum for gas price liberalization in Russia is increasingly constrained by fears of potentially strong … liberalization can bring Russia on a substantially more sustainable path. The potential to foster adoption of energy efficiency …
Persistent link: https://www.econbiz.de/10010309807