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Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis
Chan-Lau, Jorge A. - 2012
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....
Persistent link: https://www.econbiz.de/10014412154
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Konjunktur für den Klimaschutz? : Klima- und Wachstumswirkungen weltweiter Konjunkturprogramme
Klepper, Gernot; Peterson, Sonja; Petrick, Sebastian; … - 2009
: Aufteilung der weltweiten Konjunkturprogramme (Prozent) USA; 35 China; 20 Japan; 15 Rest; 15 Europa; 15 Quelle: Scheuerle … (2009). Europa und Japan haben immerhin noch einen Anteil von 15 Prozent an den weltweiten Kon- junkturprogrammen. Es ist … einzuschlagen. Inspiriert durch den von US-Präsident Frank China: 20 Vereinigte Staaten: 35 Japan: 15 Europa: 15 Rest: 15 4 …
Persistent link: https://www.econbiz.de/10003839016
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How did markets react to stress tests?
Candelon, Bertrand; Sy, Amadou N. R. - 2015
Persistent link: https://www.econbiz.de/10011281613
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Konjunktur für den Klimaschutz? : Klima- und Wachstumswirkungen weltweiter Konjunkturprogramme
Klepper, Gernot; Peterson, Sonja; Petrick, Sebastian; … - 2009
Weltweit werden etwa 3 Billionen US-Dollar staatlicher Hilfen ausgegeben, um den Absturz der Weltwirtschaft abzubremsen. Dieser Nachfrageschub von 4,7 Prozent des Welteinkommens hat zuallererst die Aufgabe, die Spirale gestrichener Investitionspläne, reduzierter Produktion, gesunkener...
Persistent link: https://www.econbiz.de/10003828844
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Liability-Creating Versus Non-Liability-Creating Fiscal Stabilization Policies : Ricardian Equivalence, Fiscal Stabilization, and Emu
Masson, Paul R. - 1998
This paper looks at theoretical and empirical issues associated with the operation of fiscal stabilizers within an economy. It argues that such stabilizers operate most effectively at a national, rather than local, level. As differing cycles across regions tend to offset each other for the...
Persistent link: https://www.econbiz.de/10014400666
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The Fiscal Smile : The Effectiveness and Limits of Fiscal Stabilizers
Silgoner, Maria Antoinette - 2003
We study the smoothing impact of fiscal stabilizers (proxied by government expenditures or revenues) on business cycle volatility for a panel of EU countries in the period 1970-99. The results show that the business cycle volatility smoothing effect of fiscal stabilizers may revert at high...
Persistent link: https://www.econbiz.de/10014403887
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Fiscal Policy and Growth in the Context of European Integration
Masson, Paul R. - 2000
The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of...
Persistent link: https://www.econbiz.de/10014400046
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Fiscal Federalism in Europe : Is it a Necessary Precondition for a Successful European Economic and Monetary Integration?
Berthold, Norbert - 1994
An important question in the process of European integration concerns the best institutional level for stabilization policies. The theory of fiscal federalism gives criteria for evaluating if fiscal stabilization policies should take place on a centralized or on a decentralized level. This paper...
Persistent link: https://www.econbiz.de/10014398092
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How Did Markets React to Stress Tests?
Candelon, Bertrand - 2015
We use event study methods to compare the market reaction to U.S. and EU-wide stress tests performed from 2009 to 2013. Typically, stress tests have a positive impact on stressed banks’ returns. While the 2009 U.S. stress test had a large positive outcome, the impact of subsequent U.S....
Persistent link: https://www.econbiz.de/10014412023