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Domestic Banks as Lightning Rods? Home Bias and Information During the Eurozone Crisis
Saka, Orkun - 2019
European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering the entire timeline of the Eurozone crisis, I...
Persistent link: https://www.econbiz.de/10012859050
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Inside the Mind of a Stock Market Crash
Giglio, Stefano - 2020
We analyze how investor expectations about economic growth and stock returns changed during the February-March 2020 stock market crash induced by the COVID-19 pandemic, as well as during the subsequent partial stock market recovery. We surveyed retail investors who are clients of Vanguard at...
Persistent link: https://www.econbiz.de/10012832080
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Investors' Trading Behaviour and Stock Market Volatility During Crisis Periods : A Dual Long-Memory Model for the Korean Stock Exchange
Caporale, Guglielmo Maria - 2020
This study examines the impact of investors' buy and sell trades on Korean stock market volatility across two crisis events, the Asian crisis of 1997 and the 2008 global financial crash. We investigate the trading behaviour of domestic vs. foreign and institutional vs. individual investors. Our...
Persistent link: https://www.econbiz.de/10012845690
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The crisis in the foreign exchange market
Melvin, Michael; Taylor, Mark P. - 2009
The financial crisis of 2007-2008 had major implications for the foreign exchange market. We review events and implications for exchange rates, volatility, returns to currency investing, and transaction costs. This blow-by-blow" narrative is intended to be a resource for researchers seeking a...
Persistent link: https://www.econbiz.de/10010266026
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Overlapping Climate Clubs Under Transaction Costs
Delfino Silva, Emilson - 2019
We examine the formation of multilateral, hub-and-spoke and bilateral international R&D strategic alliances (overlapping climate clubs) to reduce CO2 emissions. R&D provision in clubs produces two types of positive externalities: a global public good (i.e., reduction of CO2 emissions) and...
Persistent link: https://www.econbiz.de/10012892264
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Import Processing and Trade Costs
Carballo, Jerónimo; Graziano, Alejandro; Schaur, Georg; … - 2021
Trade facilitation policy focuses on accelerated and transparent shipment processing to reduce trade costs. A common measure to evaluate processing frictions is the time it takes to import. In this paper we translate import processing times to costs. Our theory considers that shipment processing...
Persistent link: https://www.econbiz.de/10013219078
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The Effects of Land Redistribution : Evidence from the French Revolution
Finley, Theresa; Franck, Raphaël; Johnson, Noel - 2021
This study exploits the confiscation and auctioning off of Church property that occurred during the French Revolution to assess the role played by transaction costs in delaying the reallocation of property rights in the aftermath of fundamental institutional reform. French districts with a...
Persistent link: https://www.econbiz.de/10013315182
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Trade Costs, Market Access and Economic Geography : Why the Empirical Specification of Trade Costs Matters
Bosker, Erik Maarten; Garretsen, Harry - 2021
Trade costs are crucial in new economic geography (NEG) models. The unavailability of actual trade costs data requires the approximation of trade costs. Most NEG studies do not deal with the ramifications of the particular trade costs specification used. This paper shows that the specification...
Persistent link: https://www.econbiz.de/10013316892
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Competition and waiting times in hospital markets
Brekke, Kurt R.; Siciliani, Luigi; Straume, Odd Rune - 2007
This paper studies the impact of hospital competition on waiting times. We use a Salop-type model, with hospitals that … from the closest hospital (monopoly segment). Compared with a benchmark case of monopoly, we find that hospital competition … hospital competition, the effect of increased competition depends on the parameter of measurement: Lower travelling costs …
Persistent link: https://www.econbiz.de/10010264231
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Regulating national firms in a common market
Biancini, Sara - 2008
that supranational competition can have very different consequences on the rent seeking behaviour of firms, depending on …
Persistent link: https://www.econbiz.de/10010264297