Showing 1 - 10 of 112
We study the feasibility and profitability of predation in a parsimonious infinite-horizon, complete information …, which can be of three types: accommodation, predation with no future entry, and predation with hit-and-run entry. We use the …
Persistent link: https://www.econbiz.de/10013353431
We study the feasibility and profitability of predation in a dynamic environment, using a parsimonious infinite … Markov perfect equilibrium, which can be of three types: accommodation, monopolization, and recurrent predation. We then … analyze and compare the welfare effects of different antitrust policies, accounting for the possibility that recurrent predation …
Persistent link: https://www.econbiz.de/10015047198
This paper explores the link between monetary policies of large industrial countries and international credit cycles. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of large centre countries can fuel credit booms in...
Persistent link: https://www.econbiz.de/10010352379
We investigate the trade-off between the risk-sharing gains enjoyed by more interconnected firms and the costs resulting from an increased risk exposure. We find that when the shock distribution displays “fat” tails, extreme segmentation into small components is optimal, while minimal...
Persistent link: https://www.econbiz.de/10010352416
contagion and spillovers in exporting and in foreign ownership decisions within an area of 10 miles in the city of Shanghai … amplify fixed-cost reductions for both exporting as well as foreign ownership of neighboring firms. Contagion among exporters …
Persistent link: https://www.econbiz.de/10011872050
We put forward the novel concept of energy contagion, i.e. a deepening of energy-finance linkages under crisis periods …-skewness, and co-volatility contagion tests. Our analysis is applied to the oil-exchange rate and oil-stock market relationships of … the small petroleum economy of Trinidad and Tobago. By defining our samples for the contagion measures in terms of calm …
Persistent link: https://www.econbiz.de/10011932029
of last resort and other safety net issues. We devote particular emphasis to the analysis of systemic risk and contagion …
Persistent link: https://www.econbiz.de/10010264351
This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the transmission mechanismcontagionduring turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature), regional, and local markets are estimated for 41 emerging...
Persistent link: https://www.econbiz.de/10010264556
This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of...
Persistent link: https://www.econbiz.de/10010265964
Russia. The adopted framework allows to analyse interdependence by estimating volatility spillovers, and also contagion by … evidence on possible changes in the transmission mechanism (namely, on whether there is contagion) can be obtained by examining … spillovers between the three CEECs considered and the UK (contagion). …
Persistent link: https://www.econbiz.de/10010270472