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The volatility of realized volatility
Corsi, Fulvio; Kretschmer, Uta; Mittnik, Stefan; … - 2005
-volatility models, have traditionally been dominating the empirical finance literature. In recent years, with the availability of high …
Persistent link: https://www.econbiz.de/10010298315
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Finance and welfare states in globalizing markets
Bertola, Giuseppe - 2007
It is theoretically clear and may be verified empirically that efficient financial markets can make it less necessary for policy to try and offset the welfare effects of labour income risk and unequal consumption dynamics. The literature has also pointed out that, since international competition...
Persistent link: https://www.econbiz.de/10010298380
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The genesis of the Black-Scholes option pricing formula
Heimer, Thomas; Arend, Sebastian - 2008
Innovations in the finance industry are an important tool to enhance profitability and to increase a nation's wealth …. It, therefore, is not astonishing that there is much empirical work on innovations in finance. Most of the work however … enhance risk control, how do we generate new processes that may enhance the profitability of finance business? The second …
Persistent link: https://www.econbiz.de/10010298942
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The paradox of monetary profits: an obstacle to understanding financial and economic Crisis?
Bruun, Charlotte; Heyn-Johnsen, Carsten - 2009
financial spheres. The monetary profit inducing capitalist production, emanates from the sphere of finance. In a world of …
Persistent link: https://www.econbiz.de/10010299493
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Understanding the high profitability of Chinese banks
Löchel, Horst; Li, Helena Xiang - 2011
The big Chinese state-owned banks came as winners out of the global financial crisis. According to the Banker ranking, Chinese banks led the global banking profitability ranking through the years from 2008 to 2010 and contributed one fifth of global banking profits in 2010. The Chinese banking...
Persistent link: https://www.econbiz.de/10010307920
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Finance and Growth at the Firm Level: Evidence from SBA Loans
Brown, J. David; Earle, John S. - 2015
We analyze linked databases on all Small Business Administration (SBA) loans, on all SBA lenders, and on all U.S. employers to estimate the effects of financial access on employment growth. Our methods combine regressions with matching on firm age, size, industry, year, and employment history,...
Persistent link: https://www.econbiz.de/10011307476
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Dynamic effect of a change in the exchange rate system: From a fixed regime to a basket-peg or a floating regime
Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2015
This paper theoretically evaluates the dynamic effects of a shift in an exchange rate system from a fixed regime to a basket peg, or to a floating regime, and obtains transition paths for the shift based on a dynamic stochastic general equilibrium model of a small open economy. We apply...
Persistent link: https://www.econbiz.de/10011311015
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Productivity, Exporting and Financial Constraints of Chinese SMEs
Van Biesebroeck, Johannes - 2014
to expand output and exploit all scale economies that the production technology allows. With access to finance problems …
Persistent link: https://www.econbiz.de/10011314142
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Types of banking institutions and economic growth: An endogenous growth model
Elmawazini, Khaled; Khiyar, Khiyar Abdalla; Al Galfy, Ahmad - 2015
There is mixed support for the hypothesis that the banking sector is a channel for economic growth. While most studies on economic growth in Gulf Cooperation Council (GCC) countries have not distinguished between conventional banks and Islamic banks, this study contributes to the empirical...
Persistent link: https://www.econbiz.de/10011327916
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Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis
Mazzucato, Mariana; Wray, L. Randall - 2015
This paper discusses the role that finance plays in promoting the capital development of the economy, with particular … emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital … the United States. To a large degree, this was because finance, instead of financing the capital development of the …
Persistent link: https://www.econbiz.de/10011335945