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Capital Controls and Macroprudential Measures: What Are They Good For?

Forbes, Kristin; Fratzscher, Marcel; Straub, Roland - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013

Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding...

Persistent link: https://www.econbiz.de/10010721647

Volatility Patterns of CDS, Bond and Stock Markets before and during the Financial Crisis: Evidence from Major Financial Institutions

Belke, Ansgar; Gokus, Christian - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011

concentrate on modeling the conditional mean. However, financial time series exhibit certain stylized features such as volatility … to address this issue and to gain insights on the volatility patterns of CDS spreads, bond yield spreads and stock prices … creditworthiness of debtors more reliably. The obtained findings suggest that volatility takes a significant higher level in times of …

Persistent link: https://www.econbiz.de/10008855329

Correcting for Self-Selection Based Endogeneity in Management Research: A Review and Empirical Demonstration

Clougherty, Joseph; Duso, Tomaso - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2015

Foundational to the discipline of management is the idea that organizational decisions are a function of expected outcomes; hence, the customary empirical approach to employ multivariate techniques that regress performance outcome variables on discrete measures of organizational choices (e.g.,...

Persistent link: https://www.econbiz.de/10011213874

From Transition to Competition: Dynamic Efficiency Analysis of Polish Electricity Distribution Companies

Cullmann, Astrid; Hirschhausen, Christian von - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007

In this paper we test the hypothesis that the economic transition toward a market economy increases the efficiency of firms. We study 32 Polish electricity distribution companies between 1997-2002, by applying common benchmarking methods to the panel: the nonparametric data envelopment analysis...

Persistent link: https://www.econbiz.de/10005068911

Economic Costs of Mass Violent Conflicts: Final Report for the Small Arms Survey, Geneva, Switzerland

Bozzoli, Carlos; Brück, Tilman; Drautzburg, Thorsten; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung)

This paper provides a critical analysis of the possible methods, data sources and the existing results of the field of 'the economic costs of mass violent conflict' by identifying strengths and weaknesses of the existing literature. The report evaluates content, methods, and data sources of the...

Persistent link: https://www.econbiz.de/10005071151

In-Sample and Out-of-Sample Prediction of Stock Market Bubbles: Cross-Sectional Evidence

Herwartz, Helmut; Kholodilin, Konstantin A. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011

We evaluate the informational content of ex post and ex ante predictors of periods of excess stock (market) valuation. For a cross section comprising 10 OECD economies and a time span of at most 40 years alternative binary chronologies of price bubble periods are determined. Using these...

Persistent link: https://www.econbiz.de/10009371745

Quoted Spreads and Trade Imbalance Dynamics in the European Treasury Bond Market

Caporale, Guglielmo Maria; Girardi, Alessandro; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

characteristics, stock market volatility, macroeconomic releases and liquidity management operations of the monetary authorities. …

Persistent link: https://www.econbiz.de/10008742946

Credit Rating Agency Announcements and the Eurozone Sovereign Debt Crisis

Baum, Christopher F.; Karpava, Margarita; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013

also increased its volatility. Downgrading increased the yields of French, Italian and Spanish bonds but lowered the German …

Persistent link: https://www.econbiz.de/10011128878

Terrorism Induced Cross-Market Transmission of Shocks: A Case Study Using Intraday Data

Kollias, Christos; Papadamou, Stephanos; Siriopoulos, Costas - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012

. Findings reported herein indicate that the volatility of stock market returns is increased in all three cases. …

Persistent link: https://www.econbiz.de/10010553342

Rogue State Behavior and Markets: The Financial Fallout of North Korean Nuclear Tests

Kollias, Christos; Papadamou, Stephanos - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012

Financial markets react to major political events. The two nuclear tests conducted by North Korea in 2006 and 2009 were a sober confirmation of the nuclear weapon capacity of this state with the concomitant potential security threat this posed for the stability of the greater region. We examine...

Persistent link: https://www.econbiz.de/10010579076