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The Great Recession versus the Great Depression: stylized facts on siblings that were given different foster parents

Aiginger, Karl - Institut für Weltwirtschaft (IfW) - 2010

This paper compares the depth of the Recent Crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the Recent Crisis leveled off in mid-2009 for production and...

Persistent link: https://www.econbiz.de/10008615592

An inconsistency in using stock flow consistency in modelling the monetary profit paradox

de la Fonteijne, Marcel - Institut für Weltwirtschaft (IfW) - 2014

In order to understand from where the profits or monetary profits of capitalists and firms emerge the author examined the phrase of Marx, 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher hineingeworfen war.' (The class of capitalists cannot...

Persistent link: https://www.econbiz.de/10010956050

Securitization, housing market and banking sector behavior in a stock-flow consistent model

Fontana, Olimpia; Godin, Antoine - Institut für Weltwirtschaft (IfW) - 2013

This paper focuses on the different balance sheet management behavior of private banks and worker households, when assets are traded in the market. The authors take into consideration the securitization process, through which mortgage loans to households are converted into tradable securities...

Persistent link: https://www.econbiz.de/10010956133

The paradox of monetary profits: an obstacle to understanding financial and economic Crisis?

Bruun, Charlotte; Heyn-Johnsen, Carsten - Institut für Weltwirtschaft (IfW) - 2009

problem, and neither did Keynes, who had to face the problem in “The General Theory”. A consequential logical conclusion to … Keynes’ treatment of the problem, leaves his concept of aggregate income indeterminate—based on imaginary magnitudes. Both … Marx and Keynes tried to solve the problem by addressing current transaction flows, which is also the approach taken by …

Persistent link: https://www.econbiz.de/10008479049

Different risk-adjusted fund performance measures: a comparison

Grau-Carles, Pilar; Sainz, Jorge; Otamendi, Javier; … - Institut für Weltwirtschaft (IfW) - 2009

Traditional risk-adjusted performance measures, such as the Sharpe ratio, the Treynor index or Jensen's alpha, based on the mean-variance framework, are widely used to rank mutual funds. However, performance measures that consider risk by taking into account only losses, such as Value-at-Risk...

Persistent link: https://www.econbiz.de/10008561128

Contagion effect of financial crisis on OECD stock markets

Kazi, Irfan Akbar; Guesmi, Khaled; Kaabia, Olfa - Institut für Weltwirtschaft (IfW) - 2011

In this paper we investigate the contagion effect between stock markets of U.S and sixteen OECD countries due to Global Financial Crisis (2007-2009). We apply Dynamic Conditional Correlation GARCH model Engle (2002) to daily stock price data (2002-2009). In order to recognize the contagion...

Persistent link: https://www.econbiz.de/10009149314

The crisis and beyond: thinking outside the box

Hillinger, Claude - Institut für Weltwirtschaft (IfW) - 2010

In this paper the author attempts an analysis of the current financial/economic crisis that is wider ranging and more fundamental than he has been able to find. For this purpose he reviews some social science literature that views the current crisis as an episode in the secular decline of the...

Persistent link: https://www.econbiz.de/10008561129

Modelling bank asset quality and profitability: An empirical assessment

Swamy, Vighneswara - Institut für Weltwirtschaft (IfW) - 2015

The determinants of default risk of banks in emerging economies have so far received inadequate attention in the literature. This paper seeks to study the determinants of bank asset quality and profitability using panel data techniques and robust data sets for the period between 1997 and 2009....

Persistent link: https://www.econbiz.de/10011263002

The accuracy of a forecast targeting central bank

Falch, Nina Skrove; Nymoen, Ragnar - Institut für Weltwirtschaft (IfW) - 2011

This paper evaluates inflation forecasts made by Norges Bank which is recognized as a successful forecast targeting central bank. It is reasonable to expect that Norges Bank produces inflation forecasts that are on average better than other forecasts, both 'naïve' forecasts, and forecasts from...

Persistent link: https://www.econbiz.de/10009647561

Fundamental uncertainty, portfolio choice, and liquidity preference theory

Pasche, Markus - Institut für Weltwirtschaft (IfW) - 2009

One of Keynes’ core issues in his liquidity preference theory is how fundamental uncertainty affects the propensity to …

Persistent link: https://www.econbiz.de/10008561119