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Foreign fund flows and equity prices during the Covid-19 pandemic : evidence from India
Acharya, Viral V.; Anshuman, V. Ravi; Kiran Kumar, K. - 2022
We study the period of the COVID-19 pandemic to assess the impact of foreign institutional investor (FII) flows on asset prices in an emerging market. Using a dataset of stock-level foreign fund flows of Indian equities, we show that stocks experiencing abnormally high innovations in foreign...
Persistent link: https://www.econbiz.de/10013334977
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Online Appendix of 'The Seeds of a Crisis : A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle'
Naqvi, Hassan - 2011
Persistent link: https://www.econbiz.de/10013132823
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The Seeds of a Crisis : A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle
Acharya, Viral V. - 2013
We examine how the banking sector may ignite the formation of asset price bubbles when there is access to abundant … liquidity. Inside banks, given lack of observability of effort, loan officers (or risk takers) are compensated based on the … macroeconomic risk, investors reduce direct investment and hold more bank deposits. This ‘flight to quality’ leaves banks flush with …
Persistent link: https://www.econbiz.de/10013094075
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Artificial intelligence and economic growth
Jones, Charles I.; Aghion, Philippe; Jones, Benjamin F. - 2017 - October 10, 2017 - Version 1.0
Persistent link: https://www.econbiz.de/10011775821
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Artificial intelligence and economic growth
Aghion, Philippe; Jones, Benjamin F.; Jones, Charles I. - 2017
Persistent link: https://www.econbiz.de/10011754481
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When is Sovereign Debt Odious? A Theory of Government Repression, Growth Traps, and Growth Boosts
Acharya, Viral V.; Rajan, Raghuram G.; Shim, Jack - 2022
We examine the dynamics of a country’s growth, consumption, and sovereign debt, assuming that the government is myopic and wants to maximize short-term, self-interested spending. Surprisingly, government myopia can increase a country’s access to external borrowing. In turn, access to...
Persistent link: https://www.econbiz.de/10014078840
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Currency Crises and Monetary Policy in an Economy with Credit Constraints
Aghion, Philippe; Banerjee, Abhijit V.; Bacchetta, Philippe - 2000
This paper presents a simple model of currency crises which is driven by the interplay between the credit constraints of private domestic firms and the existence of nominal price rigidities. The possibility of multiple equilibria, including a 'currency crisis' equilibrium with low output and a...
Persistent link: https://www.econbiz.de/10014148868
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Market failures and regulatory failures : lessons from past and present financial crises
Acharya, Viral V.; Cooley, Thomas F.; Richardson, Matthew; … - 2011
case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector due to … mispriced government guarantees; regulatory focus on individual institution risk rather than systemic risk; opacity of positions …
Persistent link: https://www.econbiz.de/10008907804
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Market Failures and Regulatory Failures : Lessons from Past and Present Financial Crises
Acharya, Viral V. - 2011
presents a case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector … due to mispriced government guarantees; regulatory focus on individual institution risk rather than systemic risk; opacity …
Persistent link: https://www.econbiz.de/10013130373
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Financial Vulnerability and Risks to Growth in Emerging Markets
Acharya, Viral V. - 2020
in their business cycles relative to those of advanced economies. Information on the domestic price of risk, cost of …
Persistent link: https://www.econbiz.de/10012831744