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We analyze the transmission of the financial crisis of 2007 to 2009 to 415 country-industry equity portfolios. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of contagion. While we find evidence of...
Persistent link: https://www.econbiz.de/10013059842
banks has risen sharply, especially among banks in the euro area. Our results suggest that expansionary monetary policy in …, both in euro area and non-euro area countries. Regarding regulatory policy, increases in financial supervisory power or … importance of regulatory arbitrage as a driver of cross-border bank flows since the global financial crisis. However, in the euro …
Persistent link: https://www.econbiz.de/10013046446
This study examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under some criteria. The policy works well in terms of smoothing...
Persistent link: https://www.econbiz.de/10012970610