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Securitization : A Financing Vehicle for All Seasons?
Buchanan, Bonnie - 2017
Securitization is considered to be one of the biggest financial innovations of the last century. It is also regarded as … credit markets, aspects of the global securitization market are now struggling to revive. In this paper I discuss the role … that ethics played in securitization prior to the 2008 financial crisis and find that it is not an obvious story of moral …
Persistent link: https://www.econbiz.de/10012963439
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Securitization and Crash Risk : Evidence from Large European Banks
Battaglia, Francesca - 2018
The 2008 global financial crisis highlights the importance of securitization and crash risk. Yet there is a dearth of … papers exploring the link between securitization and crash risk. We analyze 7,096 securitization deals made by large European … listed banks between 2000 and 2017. Our paper provides evidence that bank risk declines in the year of the securitization and …
Persistent link: https://www.econbiz.de/10012906555
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Effect of Finance on Growth Through More Efficient Utilization of Technological Innovations
Ikonen, Pasi - 2011
This paper models the effects of financial development on economic growth through better or more efficient utilization of technological innovations. The model is based on the endogenous growth theory of Aghion and Howitt and its derivatives, especially the growth model of Aghion, Howitt and...
Persistent link: https://www.econbiz.de/10013130390
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Global Collaborative Patents
Pekkala Kerr, Sari - 2017
We study the prevalence and traits of global collaborative patents for U.S. public companies, where the inventor team is located both within and outside of the United States. Collaborative patents are frequently observed when a corporation is entering into a new foreign region for innovative...
Persistent link: https://www.econbiz.de/10012963434
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Immigrant Entrepreneurship
Pekkala Kerr, Sari - 2017
We examine immigrant entrepreneurship and the survival and growth of immigrant-founded businesses over time relative to native-founded companies. Our work quantities immigrant contributions to new firm creation in a wide variety of fields and using multiple definitions. While significant...
Persistent link: https://www.econbiz.de/10012963437
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Are There Economies of Scale in Stock Exchange Activities?
Malkamäki, Markku - 2009
This is the first paper that examines economies of scale in stock exchanges. The data employed in the study include cost and output statistics for 37 stock exchanges in four continents around the world for the year 1997. I estimate two traditional cost functions and find that ray (overall) scale...
Persistent link: https://www.econbiz.de/10012721113
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Are Expansions Cost Effective for Stock Exchanges? A Global Perspective
Malkamäki, Markku - 2009
This paper investigates the existence and extent of economies of scale and scope among stock exchanges. Evidence from 38 exchanges in 32 countries and 4 continents around the world for the years 1989-1998 indicates the existence of significant economies of scale and scope. The degree of such...
Persistent link: https://www.econbiz.de/10012721123
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High-Skilled Migration and Agglomeration
Pekkala Kerr, Sari; Kerr, William; Ozden, Caglar; … - 2021
This paper reviews recent research regarding high-skilled migration. We adopt a data-driven perspective, bringing together and describing several ongoing research streams that range from the construction of global migration databases, to the legal codification of national policies regarding...
Persistent link: https://www.econbiz.de/10013315471
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Global Talent Flows
Pekkala Kerr, Sari; Kerr, William; Ozden, Caglar; … - 2021
The global distribution of talent is highly skewed and the resources available to countries to develop and utilize their best and brightest vary substantially. The migration of skilled workers across countries tilts the deck even further. Using newly available data, we first review the landscape...
Persistent link: https://www.econbiz.de/10013315472
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Growth Through Heterogeneous Innovations
Akcigit, Ufuk; Kerr, William - 2014
We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to...
Persistent link: https://www.econbiz.de/10014037991