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The state dependent impact of bank exposure on sovereign risk

Podstawski, Maximilian; Velinov, Anton - 2016 - This version: February 11, 2016

The theoretical literature remains inconclusive on whether changes in bank exposure towards the domestic sovereign have an adverse effect on the sovereign risk position via a diabolic loop in the sovereign-bank nexus or reduce perceived default risk by acting as a disciplinary device for the...

Persistent link: https://www.econbiz.de/10011436025

The global crisis and equity market contagion

Bekaert, Geert; Ehrmann, Michael; Fratzscher, Marcel; … - 2014

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/10010229208

Regionality revisited : an examination of the direction of spread of currency crisis

Dasgupta, Amil; Leon-Gonzalez, Roberto; Shortland, Anja - 2010 - This draft: March 2010

What determines the direction of spread of currency crises? We examine data on waves of currency crises in 1992, 1994, 1997, and 1998 to evaluate several hypotheses on the determinants of contagion. We simultaneously consider trade competition, financial links, and institutional similarity to...

Persistent link: https://www.econbiz.de/10009129985

The pros and cons of sick pay schemes : testing for contagious presenteeism and shirking behavior

Pichler, Stefan; Ziebarth, Nicolas R. - 2015

This paper proposes a test for the existence and degree of contagious presenteeism and negative externalities in sickness insurance schemes. First, we theoretically decompose moral hazard into shirking and contagious presenteeism behavior and derive testable conditions. Then, we implement the...

Persistent link: https://www.econbiz.de/10011339778

Global and regional spillovers in emerging stock markets : a multivariate GARCH-in-mean analysis

Beirne, John; Caporale, Guglielmo Maria; … - 2009

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of...

Persistent link: https://www.econbiz.de/10003891055

Corruption, growth, and the environment : a cross-country analysis

Welsch, Heinz - 2003

-shaped or downward-sloping pattern. Corruption may affect this relationship in two distinct ways: by raising pollution at given … corruption on pollution. The indirect effect via income is positive or negative depending on the income level. If negative, the … corruption. Because this relationship is particularly strong at low income levels, developing countries can considerably improve …

Persistent link: https://www.econbiz.de/10011438821

From financial to real economic crisis : evidence from individual firm-bank relationships in Germany

Dwenger, Nadja; Fossen, Frank M.; Simmler, Martin - 2015 - This version: September 25, 2015

What began as a financial crisis in the United States in 2007–2008 quickly evolved into a massive crisis of the global real economy. We investigate the importance of the bank lending and firm borrowing channel in the international transmission of bank distress to the real economy—in...

Persistent link: https://www.econbiz.de/10011339776

When credit turns political : evidence from the Spanish Financial Crisis

Hüttl, Pia; Baumgartner, Simon - 2023

This paper provides causal evidence on the effect of credit crunches on political polarization. We combine data on bank-firm connections and electoral outcomes at the city-level during the 2008-2014 Spanish Financial Crisis. First, we show that firms in a relationship with weak banks experience...

Persistent link: https://www.econbiz.de/10014305674

Are ethical and social banks less risky? : evidence from a new dataset

Karl, Marlene - 2015

conventional counterparts. The results are robust to different estimation methods and data specifications. Alternative banks also …

Persistent link: https://www.econbiz.de/10011280011

Institutional diversity in domestic banking sectors and bank stability : a cross-country study

Baum, Christopher F.; Grazzini, Caterina Forti; … - 2020 - This version: May 9, 2020

This paper analyzes the causal relationship between institutional diversity in domestic banking sectors and bank stability. We use a large bank- and country-level unbalanced panel data set covering the EU member states' banking sectors between 1998 and 2014. Constructing two distinct indicators...

Persistent link: https://www.econbiz.de/10012215264

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