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The influence of the business cycle on bankruptcy probability

Hol, Suzan - 2006

I combine two fields of research on default prediction by empirically testing a bankruptcy prediction function where unlisted firms are evaluated on the basis of both their financial statement analysis and the macroeconomic environment. This combination is found to improve the default prediction...

Persistent link: https://www.econbiz.de/10011968236

Exchange Rate Regime, Financial Market Bubbles and Long-Term Growth in China: Lessons from Japan

Schnabl, Gunther - 2016

The paper argues that persistent current account surpluses and increasing foreign currency-denominated asset positions constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate cuts and appreciation expectation shocks. For...

Persistent link: https://www.econbiz.de/10011480485

The Renminbi Central Parity: An Empirical Investigation

Cheung, Yin-Wong; Hui, Cho-Hoi; Tsang, Andrew - 2016

On August 11 2015, China revamped its procedure of setting the official central parity of the renminbi (RMB) against the US dollar. Our empirical investigation shows that the intertemporal dynamics of China’s central parity are not the same before and after this policy change. They are more...

Persistent link: https://www.econbiz.de/10011522463

Real and nominal wage adjustment in open economies

Forslund, Anders; Gottfries, Nils; Westermark, Andreas - 2006

How are wages set in an open economy? What role is played by demand pressure, international competition, and structural factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the evolution of real wages and competitiveness? To answer these questions, we...

Persistent link: https://www.econbiz.de/10010261405

Moving On Up for High School Graduates in Russia: The Consequences of the Unified State Exam Reform

Slonimczyk, Fabián; Francesconi, Marco; Yurko, Anna - 2017

In 2009, Russia introduced a reform that changed the admissions process in all universities. Before 2009, admission …

Persistent link: https://www.econbiz.de/10011657168

Income Inequality and Oligarchs in Russian Regions: A Note

Fidrmuc, Jarko; Gundacker, Lidwina - 2017

We trace the rise of the so called oligarchs in post-Soviet Russia and examine their relationship to income … distribution in Russia. When Russia moved to a market economy in the 1990s a new business elite evolved. Russia’s distinctive path …

Persistent link: https://www.econbiz.de/10011657170

Style consistency and mutual fund returns: the case of Russia

Bayarmaa, Adiya; Caporale, Guglielmo Maria - 2019

This paper carries out style analysis for Russian mutual funds using monthly data from the National Managers’ Association over the period January 2008-December 2017; specifically, it applies the RSBA method developed by Sharpe (1992) for evaluating the impact of style on returns, and uses the...

Persistent link: https://www.econbiz.de/10012018296

Implementation of the Kyoto Protocol without Russian participation

Holtsmark, Bjart J.; Alfsen, Knut H. - 2004

All Annex B parties but Russia, Australia and USA, have ratified the Kyoto Protocol so far. It is still an open … question whether Russia will ratify and secure that the Protocol enters into force. This paper therefore analyzes consequences … Protocol. Environmentally, implementation of the Kyoto Protocol without participation from Russia and Ukraine is obviously …

Persistent link: https://www.econbiz.de/10011968146

The Future European Natural Gas Market - are lower gas prices attainable?

Sagen, Eirik Lund; Aune, Finn Roar - 2004

starting point is the uncertainties about future natural gas exports from Russia and LNG-producing countries. Our results …

Persistent link: https://www.econbiz.de/10011968149

Russian Natural Gas Exports to Europe. Effects of Russian gas market reforms and the rising market power of Gazprom

Sagen, Eirik Lund; Tsygankova, Marina - 2006

Gazprom, the dominant gas company in Russia, is widely believed to be the key supplier of gas to Europe in the …

Persistent link: https://www.econbiz.de/10011968215