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Has the Euro Affected the Choice of Invoicing Currency?

Ligthart, J.E.; Werner, S.E.V. - Tilburg University, Center for Economic Research - 2010

We present a new approach to study empirically the effect of the introduction of the euro on currency invoicing. Our approach uses a compositional multinomial logit model, in which currency choice depends on the characteristics of both the currency and the country. We use unique quarterly panel...

Persistent link: https://www.econbiz.de/10011090527

Regional Inflation, Financial Integration and Dollarization (This is a revision of CentER DP 2013-073)

de Haas, R.; Brown, M.; Sokolov, V. - Tilburg University, Center for Economic Research - 2015

We exploit variation in consumer price inflation across 71 Russian regions to examine the relationship between the … perceived stability of the domestic currency and financial dollarization. Our results show that regions with higher inflation … to firms in non-tradable sectors. The impact of inflation on credit dollarization is weaker in regions with less …

Persistent link: https://www.econbiz.de/10011199227

Regional Inflation and Financial Dollarization

Brown, M.; de Haas, R.; Sokolov, V. - Tilburg University, Center for Economic Research - 2013

Abstract: We exploit variation in consumer price inflation across 71 Russian regions to examine the relationship … inflation experience an increase in the dollarization of household deposits and a decrease in the dollarization of (long …-term) household credit. The negative impact of inflation on credit dollarization is weaker in regions with less-integrated banking …

Persistent link: https://www.econbiz.de/10011092469

News on Inflation and the Epidemiology of Inflation Expectations

Pfajfar, Damjan; Santoro, E. - Tilburg University, Center for Economic Research - 2012

Abstract: This paper examines the nexus between news coverage on inflation and households' inflation expectations. In … disconnection between news on inflation, consumers' frequency of expectation updating and the accuracy of their expectations. Our …

Persistent link: https://www.econbiz.de/10011090809

Sovereign Debt, Bail-Outs and Contagion in a Monetary Union

Eijffinger, Sylvester; Uras, Burak R.; Kobielarz, M.L. - Tilburg University, Center for Economic Research - 2015

Abstract: The European sovereign debt crisis is characterized by the simultaneous surge in borrowing costs in the GIPS countries after 2008. We present a theory, which can account for the behavior of sovereign bond spreads in Southern Europe between 1998 and 2012. Our key theoretical argument is...

Persistent link: https://www.econbiz.de/10011199228

Mandatory IFRS Reporting and Stock Price Informativeness

Joos, Philip; Beuselinck, C.A.C.; Khurana, I.K.; van … - Tilburg University, Center for Economic Research - 2010

In this paper, we examine whether mandatory adoption of IFRS influences the flow of firm-specific information and contributes to stock price informativeness as measured by stock return synchronicity. Using a constant sample of 1,904 mandatory IFRS adopters in 14 EU countries for the period...

Persistent link: https://www.econbiz.de/10011090958

Royal Ahold : A Failure of Corporate Governance and an Accounting Scandal

de Jong, A.; DeJong, D.V.; Mertens, G.M.H.; Roosenboom, … - Tilburg University, Center for Economic Research - 2005

Royal Ahold (Koninklijke Ahold NV) was one of the major success stories in the 1990s and is one of the major failures, suffering a complete meltdown, in 2003.We investigate the strategy, accounting transparency and corporate governance of Ahold; elements which jointly drive the firm s performance...

Persistent link: https://www.econbiz.de/10011091014

The Transmission of Real Estate Shocks Through Multinational Banks

Bertay, Ata Can - Tilburg University, Center for Economic Research - 2014

Abstract: This paper investigates the credit supply of banks in response to domestic and foreign real estate price changes. Using a large international dataset of multinational banks, we find evidence of a significant transmission of domestic real estate shocks into lending abroad. A 1% decrease...

Persistent link: https://www.econbiz.de/10011091102

The fundamental determinants of financial integration in the European Union

Eijffinger, Sylvester; Lemmen, J.J.G. - Tilburg University, Center for Economic Research - 1995

panel data approach, we find realized inflation rates, government deficits, current account deficits and credits to the …

Persistent link: https://www.econbiz.de/10011091160

The Role of Self-Regulation in Corporate Governance : Evidence from the Netherlands

de Jong, A.; DeJong, D.V.; Mertens, G.M.H.; Wasley, C. - Tilburg University, Center for Economic Research - 2000

The purpose of this paper is to gather evidence on the success of market forces in promoting investor interests through self-regulation.Corporate governance is a complex mechanism design problem that is both economic and legal/political based.As such there is great interest in whether (and when)...

Persistent link: https://www.econbiz.de/10011091306