Similar Search Results

Surprises in scheduled releases : why do they move the bond market?

Hess, Dieter - 2000

It is well known that information arrival has an impact on prices volatility, and trading volume in financial markets (see e.g., Goodhart and O'Hara 1997). Scheduled macroeconomic announcements, such as monthly employment figures, consumer prices, or building permits, stand out from the steady...

Persistent link: https://www.econbiz.de/10011445168

Further evidence on the (in-) efficiency of the U.S. housing market

Schindler, Felix - 2010

Extending the controversial findings from relevant literature on testing the efficient market hypothesis for the U.S. housing market, the results from the monthly and quarterly transaction-based Case-Shiller indices from 1987 to 2009 provide further empirical evidence on the rejection of the...

Persistent link: https://www.econbiz.de/10003919079

Exchange rate or wage changes in internationale adjustment? : Japan and China versus the United States

McKinnon, Ronald I. (contributor) - 2005

Under the world dollar standard, a discrete appreciation by a dollar creditor country of the United States, such as China or Japan, has no predictable effect on its trade surplus. Currency appreciation by the creditor country will slow its economic growth and eventually cause deflation but...

Persistent link: https://www.econbiz.de/10003114252

How many factors and shocks cause financial stress?

Kappler, Marcus; Schleer, Frauke - 2013

particular financial stress in the euro area. A second aim is to construct summary indices on the conditions and level of stress … financial market conditions in the euro area, our results suggest that the data respond quite differently to fundamental shocks … financial sector in the euro area react fairly heterogonously to such shocks. We estimate several common factors and by means of …

Persistent link: https://www.econbiz.de/10010204040

Lender of last resort versus buyer of last resort : the impact of the European Central Bank actions on the bank-sovereign nexus

Acharya, Viral V.; Pierret, Diane; Steffen, Sascha - 2016 - This version: February 29, 2016

In summer 2011, elevated sovereign risk in Eurozone peripheral countries increased the solvency risk of Eurozone banks, precipitating a run on their short-term debt. We assess the effectiveness of different European Central Bank (ECB) interventions that followed – lender of last resort vs....

Persistent link: https://www.econbiz.de/10011436391

Who's coming to the rescue? : revenue-sharing slumps and implicit bailouts during the Great Recession

Foremny, Dirk; Solé-Ollé, Albert - 2016

This paper analyzes the distribution of discretionary transfers from higher tiers of government in the process of fiscal adjustment in local jurisdictions which were hit by a negative revenue shock in formula transfers. Spanish local governments experienced a 30% fall in their revenue-sharing...

Persistent link: https://www.econbiz.de/10011499738

Financial sector-output dynamics in the euro area : non-linearities reconsidered

Schleer, Frauke; Semmler, Willi - 2014 - This version: January 2014

We analyze the feedback mechanisms between economic downturns and financial stress for several euro area countries. Our …-linearities and amplification mechanisms for some euro area countries. Thus, these strong amplification effects appear to be related …

Persistent link: https://www.econbiz.de/10010238376

Financial sector-output dynamics in the euro area : non-linearities reconsidered

Schleer, Frauke; Semmler, Willi - 2013

We analyze the feedback mechanisms between economic downturns and financial stress for euro area countries. Our study … euro area countries. Moreover, linearity cannot be rejected for all countries over some extensive time period questioning …

Persistent link: https://www.econbiz.de/10009792964

Financial sector and output dynamics in the Euro area : non-linearities reconsidered ; conference paper

Schleer, Frauke; Semmler, Willi - 2014 - This version: January 2014

Persistent link: https://www.econbiz.de/10010489891

Exploring the tail of patented invention value distributions

Harhoff, Dietmar; Scherer, Frederic M.; Vopel, Katrin - 1997

We explore the tail of patented invention value distributions by using value estimates obtained directly from patent holders. The paper focuses on those full-term German patents of the application year 1977 which were held by West German and U.S. residents. The most valuable patents in our data...

Persistent link: https://www.econbiz.de/10011440960