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New Evidence on the First Financial Bubble

Frehen, Rik G.P. - 2009

these linked bubbles primarily focus on the irrationality of investor speculation and the corresponding stock price behavior … examine a broad cross-section of security price data to evaluate the causes of the bubbles. Using newly collected stock prices … in 1720. Our findings are consistent with the hypothesis that financial bubbles require a plausible story to justify …

Persistent link: https://www.econbiz.de/10012463318

Stock Return Predictability : Is it There?

Ang, Andrew - 2001

We ask whether stock returns in France, Germany, Japan, the UK and the US are predictable by three instruments: the dividend yield, the earnings yield and the short rate. The predictability regression is suggested by a present value model with earnings growth, payout ratios and the short rate as...

Persistent link: https://www.econbiz.de/10012470517

Anomalies Abroad : Beyond Data Mining

Lu, Xiaomeng - 2017

A pre-specified set of nine prominent U.S. equity return anomalies produce significant alphas in Canada, France, Germany, Japan, and the U.K. All of the anomalies are consistently significant across these five countries, whose developed stock markets afford the most extensive data. The anomalies...

Persistent link: https://www.econbiz.de/10012453902

Does the Market Value R&D Investment by European Firms? Evidence from a Panel of Manufacturing Firms in France, Germany, and Italy

Hall, Bronwyn H. - 2004

Several studies based on US and UK data have used market value as an indicator of the firm''s expected R&D performance. However, there exist no investigations for the continental countries in the European Union, partly because the analysis is complicated by data availability problems. In this...

Persistent link: https://www.econbiz.de/10012468285

COVID-19 Vaccination Mandates and Vaccine Uptake

Karajvanov, Alexander K.; Kim, Dongwoo; Lu, Shih En; … - National Bureau of Economic Research - 2021

We evaluate the impact of government mandated proof of vaccination requirements for access to public venues and non-essential businesses on COVID-19 vaccine uptake. We find that the announcement of a mandate is associated with a rapid and significant surge in new vaccinations (more than 60\%...

Persistent link: https://www.econbiz.de/10012794591

The Crash of 1882, Counterparty Risk, and the Bailout of the Paris Bourse

White, Eugene N. - 2007

The rapid growth of derivative markets has raised concerns about counterparty risk. It has been argued that their mutual guarantee funds provide an adequate safety net. While this mutualization of risk protects clients and brokers from idiosyncratic shocks, it is generally assumed that it also...

Persistent link: https://www.econbiz.de/10012465723

The Inter-War Gold Exchange Standard : Credibility and Monetary Independence

Bordo, Michael D. - 2001

In this paper we analyze the operation of the inter-war gold exchange standard to see if the evident credibility of the system conferred on participating central banks the ability to pursue independent monetary policies. To answer this question we econometrically analyze two key parity, or...

Persistent link: https://www.econbiz.de/10012470290

Financial Systems, Economic Growth, and Globalization

Rousseau, Peter L. - 2001

This paper brings together two strands of the economic literature -- that on the finance-growth nexus and that on capital market integration -- and explores key issues surrounding each strand through both institutional/country histories and formal quantitative analysis. We begin with studies of...

Persistent link: https://www.econbiz.de/10012470401

From Mill Town to Board Room : The Rise of Women's Paid Labor

Costa, Dora L. - 2000

In the twenty-first century many of the professional and high ranking managerial workers in the United States and in other OECD countries will be women. This change in women's social and economic status represents a dramatic break with the past, but one that can only be understood by looking to...

Persistent link: https://www.econbiz.de/10012471162

Implied Exchange Rate Distributions : Evidence from OTC Option Markets

Campa, Jose M. - 1997

This paper uses a rich new data set of option prices on the dollar-mark, dollar-yen, and key EMS cross-rates to extract the entire risk-neutral probability density function (pdf) over horizons of one and three months. We compare three alternative smoothing methods---cubic splines, an implied...

Persistent link: https://www.econbiz.de/10012472635