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Does more FDI make the world a riskier place for workers? We analyze whether an increase in multinational firms' activities is associated with an increase in firm-level employment volatility. We use a firm-level dataset for Germany which allows us to distinguish between purely domestic firms,...
Persistent link: https://www.econbiz.de/10012991135
We model how investors allocate between asset managers, managers choose their portfolios of multiple securities, fees are set, and security prices are determined. The optimal passive portfolio is linked to the “expected market portfolio,” while the optimal active portfolio has elements of...
Persistent link: https://www.econbiz.de/10012851298
Persistent link: https://www.econbiz.de/10013261112
Information costs and regulatory barriers are the main distinguishing features of international financial markets as …-section dimension of information costs and changes in regulations, in particular, for intra-EU asset holdings. While EU membership per … a positive impact. While regulations and information costs are important for all reporting countries, their relative …
Persistent link: https://www.econbiz.de/10011473701
The interplay between banks and the macroeconomy is of key importance for financial and economic stability. We analyze this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U.S. macroeconomy. The model includes GDP growth, inflation, the...
Persistent link: https://www.econbiz.de/10008697445
macroeconomic indicators and factors summarizing information provided in the Federal Reserve’s Survey of Terms of Business Lending …
Persistent link: https://www.econbiz.de/10009010127
.S. for the years 1997-2008. We include standard macroeconomic indicators and factors summarizing information provided in the …
Persistent link: https://www.econbiz.de/10009011303
If the technological revolution which has taken place over the past decades has lowered information costs and if … information costs increase in distance, distance should - ceteris paribus - become less important in determining international …
Persistent link: https://www.econbiz.de/10011474062
Persistent link: https://www.econbiz.de/10013261139
Globalization may impose a double-burden on low-skilled workers. On the one hand, the relative supply of low-skilled labor increases. This suppresses wages of low-skilled workers and/or increases their unemployment rates. On the other hand, low-skilled workers typically face more limited access...
Persistent link: https://www.econbiz.de/10003850520