This study investigates the asymmetric unemployment-output tradeoff in the Eurozone. Building upon the framework of an augmented Okun's law, the nonlinear autoregressive distributed lag (NARDL) modelling reveals that the nature of Okun's law is asymmetric. For the Eurozone economies, the...

We estimate monthly conditional market beta of 10 momentum and 25 size and book-to-market portfolios between 1946 and 2016 using a multivariate GARCH model. In the ICAPM conditional market beta are important determinants of expected returns and covariances of assets. Thus, shocks to conditional...

This study investigates the relationship between the real exchange rate (RER) and economic growth in China applying a cointegrated VAR (CVAR) model. However, in contrast to the assumptions of trade partners, this paper finds that the Chinese economy has not benefited from the lower exchange rate...

This study examines the symmetric and asymmetric exchange rate exposures of Chinese automobile firms at different time horizons. Empirical findings reveal that firm returns are less likely to be affected by currency movements at short-term (daily) horizons due to restrictions on the currency...

This paper investigates the impact of the US and China‘s foreign aid to Africa on trade flows between donor and recipient countries. Evidence from the gravity model estimates reveals that the two donors‘ exports are strengthened by their aids to African partners. Interestingly, China‘s aid...

Access privileges matter in private equity markets. Funds of funds and other financial intermediaries can create value not only by selecting, but also by being able to access, better investment opportunities. We find that access-constrained funds outperform their peers, and that limited partners...

The climate crisis requires that economies around the world achieve carbon Net Zero by 2050. However, average annual GHG emissions during the 2010s have continued to increase (albeit at a decelerating rate) relative to global emissions in the first decade of the 21st century (IPCC AR6). Most of...