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The Transmission of the Subprime Crisis
Chihi-Bouaziz, Meriam; Boujelbène, Younes; Bazin, Damien - HAL - 2012
This paper aims to study the contagion effects of the subprime financial crisis on the real economy of the USA. The contagion of this crisis is measured by increased linkages between markets after a shock has taken place (the stock market shocks, the interbank spread). The VAR model is utilized...
Persistent link: https://www.econbiz.de/10010933785
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A multi-horizon scale for volatility
Subbotin, Alexander - HAL - 2008
We decompose volatility of a stock market index both in time and scale using wavelet filters and design a probabilistic indicator for valatilities, analogous to the Richter scale in geophysics. The peak-over-threshold method is used to fit the generalized Pareto probability distribution for the...
Persistent link: https://www.econbiz.de/10010750636
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Comparing the value relevance of earnings and book value in IFRS and GAAP standards
Escaffre, Lionel; Sefsaf, Réda - HAL - 2011
The aim of this paper is to present a comparative analysis of the value relevance of the book value and earnings on a sample of companies belonging to the financial sector, made up largely of banks. The sample is taken from several European markets in IFRS, namely the Benelux countries, France,...
Persistent link: https://www.econbiz.de/10010898605
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Why and how to measure stock market fluctuations? The early history of stock market indices, with special reference to the French case
Hautcoeur, Pierre-Cyrille - HAL - 2006
Stock market indices are today a vital and daily tool for both economists and actors in the financial world. The multiplication and the very importance given to these indices raise the question of their accuracy and of the reliability of the methods that are used to construct them. We begin an...
Persistent link: https://www.econbiz.de/10010738778
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A discussion of stock market speculation by Pierre-Joseph Proudhon
Juhel, Jean-Claude; Dufour, Dominique - HAL - 2008
The object of this contribution is to present the ideas behind the thinking of the French economist Pierre-Joseph Proudhon (1809-1865) in relation to the causes and effects of Stock market speculation. It is based upon the works of this author but particularly on his “Manuel du spéculateur à...
Persistent link: https://www.econbiz.de/10008791994
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Ex-ante risk premia in the US stock market: analysing experts' behaviour at the individual level
Abou, Alain; Prat, Georges - HAL - 1986
Semi-annual surveys carried out by J. Livingston on a panel of experts has enabled us to compute the expected returns on a portfolio made up of US industrial stocks. Having calculated the difference between these expected returns and the risk free rate given by zero coupon bonds, we generated...
Persistent link: https://www.econbiz.de/10008792181
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Mesoscopic modelling of financial markets
Cordier, Stéphane; Pareschi, Lorenzo; Piatecki, Cyrille - HAL - 2008
We derive a mesoscopic description of the behavior of a simple financial market where the agents can create their own portfolio between two investments alternatives: a stock and a bond. The model is derived starting from the Levy-Levy-Solomon microscopic model using the methods of kinetic theory...
Persistent link: https://www.econbiz.de/10008794299
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Strategic Interactions in Environmental Regulation Enforcement: Evidence from Chinese Provinces
Renard, Mary-Françoise; Xiong, Hang - HAL - 2012
towards China's decentralization of environment policy implementation as well as its fiscal arrangements. …
Persistent link: https://www.econbiz.de/10009651572
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Determinants of FDI into China and Vietnam: A comparative study
Pham, Thi-Hong-Hanh - HAL - 2012
Since the inception of economic reforms, China in 1978 and Vietnam in 1986, both countries have become successful … between China and Vietnam?" through a comparative study of the FDI determinants. In other words, this paper revisits the … determinants of FDI into China and Vietnam by employing an augmented gravity model and using a panel dataset containing information …
Persistent link: https://www.econbiz.de/10009651580
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The world upside down
Fabre, Guilhem; Grumbach, Stephane - HAL - 2012
R&D and innovation have become much more strategic than ever before for the growth of China as well as for its global … perspective explaining the legacy of the past in today's choices. In the second part, we illustrate China's catching up strategy …
Persistent link: https://www.econbiz.de/10009654257