The global financial crisis has brought increased attention to the consequences of international reserves holdings. In an era of high financial integration, we investigate the relationship between the real exchange rate and international reserves using nonlinear regressions and panel threshold...

This paper studies how labor flexibility and mobility induced by the gig economy, affects corporate investment, by exploiting the staggered entry of the leading online delivery platforms into different cities in China and across the globe. The results show that, following the entry of delivery...

Using non-parametric estimates with imposing inequality restrictions, we study returns and risks of green and brown portfolios constructed from fossil fuel and clean energy ETFs. The green portfolios do not unconditionally outperform brown ones, but the outperformance of green portfolios is...

This paper investigates the impacts of inflation uncertainty on inflation and economic activities. We take three steps. We first put together various measures of inflation uncertainty—including survey- and model-based - and extract a common inflation uncertainty for the group of seven advanced...

Drawing on a survey amongst IADI Members, this IADI Survey Brief takes stock of the prevalence of ESG (“Environment, Social and Governance”) for deposit insurers. It provides a snap-shot of the current use of ESG policies by deposit insurers and identifies their expectations on future...

We examine the relationship between stock price synchronicity and stock liquidity using a comprehensive data set across 40 countries. Our local (within-country) empirical results reveal a positive relationship between local synchronicity and stock liquidity. The strength of this positive...

In Unshackling Accountants , Professor D R Myddelton of Cranfield School of Management looks at the history of and the arguments for and against detailed accounting standards. Myddelton concludes that, while there may be a case for the accounting profession to develop voluntary guidelines, the...

The Russian invasion of Ukraine on February 24, 2022 dramatically disrupted the global supply of crude oil and agricultural commodities. As a consequence, the prices of oil and agricultural commodities increase substantially and many countries face the problem of high food inflation. Against...

The work of Hyman Minsky was largely ignored outside of heterodox circles prior to the financial crisis of 2008. With the onset of the crisis, many agree his work took on a new influence however this change has yet to be quantified. This paper combines two rising methodologies-- citation...

After moving slowly downward for the better part of four decades, central bank gold holdings have risen since the Global Financial Crisis. We identify 14 “active diversifiers,” defined as countries that purchased gold and raised its share in total reserves by at least 5 percentage points...