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The Offshore Renminbi Exchange Rate: Microstructure and Links to the Onshore Market
Cheung, Yin-Wong; Rime, Dagfinn - 2014
The offshore renminbi (CNH) exchange rate is the exchange rate of the Chinese currency transacted outside China. We study the CNH exchange rate dynamics and its links with onshore exchange rates. Using a specialized microstructure dataset, we find that CNH is significantly affected by its order...
Persistent link: https://www.econbiz.de/10010398519
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Mortgage-Related Bank Penalties and Systemic Risk among U.S. Banks
Brož, Václav; Kocenda, Evžen - 2021
We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U.S. banking industry. We employ a frequency decomposition of volatility spillovers (connectedness) to assess system-wide risk transmission with short-, medium-, and long-term...
Persistent link: https://www.econbiz.de/10012799763
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Analyzing Systemic Risk in the Chinese Banking System
Huang, Qiubin; de Haan, Jakob; Scholtens, Bert - 2015
We examine systemic risk in the Chinese banking system by estimating the conditional value at risk (CoVaR), the marginal expected shortfall (MES), the systemic impact index (SII) and the vulnerability index (VI) for 16 listed banks in China. Although these measures show different patterns, our...
Persistent link: https://www.econbiz.de/10011388192
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Mortgage-Related Bank Penalties and Systemic Risk Among U.S. Banks
Brož, Václav; Kočenda, Evžen - 2021
We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U.S. banking industry. We employ a frequency decomposition of volatility spillovers (connectedness) to assess system-wide risk transmission with short-, medium-, and long-term...
Persistent link: https://www.econbiz.de/10013311710
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International trade and retailing
Eckel, Carsten - 2009
The New Trade Theory predicts that international trade lowers prices for consumers and expands the choices available to them. This study shows that both predictions may no longer hold once adjustments in the retail sector are taken into account. I present a new model of retailing in general...
Persistent link: https://www.econbiz.de/10010264598
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The Impact of Horizontal Mergers on Market Structure: Evidence from the Semiconductor Industry
Siebert, Ralph - 2016
The U.S. and EU Merger Guidelines strongly emphasize the relevance of the “ease of entry” argument in merger evaluations. Up to now, very little is known empirically about how mergers affect entry and exit, and the resulting number of firms in the markets. We empirically test this aspect of...
Persistent link: https://www.econbiz.de/10011522411
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Negative Intra-Group Externalities in Two-Sided Markets
Belleflamme, Paul; Toulemonde, Eric - 2021
Two types of agents interact on a pre-existing free platform. Agents value positively the presence of agents of the other type but may value negatively the presence of agents of their own type. We ask whether a new platform can find fees and subsidies so as to divert agents from the existing...
Persistent link: https://www.econbiz.de/10013317024
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Informal benchmarks as a source of regulatory threat in unregulated utility sectors
Söderberg, Magnus - 2010
price regulation by conforming to customers' and authorities' expectations. It is argued that utilities can meet …' price setting schemes are insensitive to customer complaints, they are significantly influenced by the passive monitoring by …
Persistent link: https://www.econbiz.de/10010266107
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Curbing Price Fluctuations in Cap-and-Trade Auctions
Jeitschko, Thomas D.; Pal, Pallavi - 2022
In recent years, a significant problem with the carbon credit market has been higher than initially predicted price … fluctuations in prices. In this paper, we examine the dynamic auction design and propose a method to curb price volatility through … a flexible supply cap. The equilibrium analysis shows that modifying the cap on per period supply can decrease price …
Persistent link: https://www.econbiz.de/10014244081
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Curbing Price Fluctuations in Cap-and-Trade Auctions
Jeitschko, Thomas D.; Pal, Pallavi - 2021
In recent years, a significant problem with the carbon credit market has been the higher than initially predicted price … fluctuations in prices. In this paper, we examine the dynamic auction design and propose a method to curb price volatility through … a flexible supply cap. The equilibrium analysis shows that modifying the cap on per period supply can decrease price …
Persistent link: https://www.econbiz.de/10013214329