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Macro News and Bond Yield Spreads in the Euro Area
Caporale, Guglielmo Maria - 2014
This paper analyses the effects of newspaper coverage of macro news on the spread between the yield on the 10-year German Bund and on sovereign bonds in eight countries belonging to the euro area (Belgium, France, Greece, Ireland, Italy, the Netherlands, Portugal and Spain) using daily data for...
Persistent link: https://www.econbiz.de/10013045338
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'By a Silken Thread' : Regional Banking Integration and Pathways to Financial Development in Japan's Great Recession
Hoffmann, Mathias - 2013
How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to study this question. Regional differences in banking integration affected how the recession spread across the country: financing frictions for credit-dependent firms were more...
Persistent link: https://www.econbiz.de/10013087279
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Drivers and Obstacles to Banking SMEs : The Role of Competition and the Institutional Framework
de la Torre, Augusto - 2009
Small and medium enterprises (SMEs) are important for employment and economic activity; however, they are perceived to lack adequate financing, which hampers their growth. As a consequence, governments have implemented a number of programs to foster SME lending and attention has focused on...
Persistent link: https://www.econbiz.de/10013159698
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Banking and Industrialization
Heblich, Stephan - 2015
We exploit employment data from 10,528 parishes across nineteenth century England and Wales and find that a one standard deviation increase in finance employment increases the annualized growth rate of secondary labour by 0.8 percentage points. An endogenous growth model with finance and...
Persistent link: https://www.econbiz.de/10013014356
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Measuring the Spillovers of Venture Capital
Schnitzer, Monika - 2020
We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of established companies. Spillover effects are larger...
Persistent link: https://www.econbiz.de/10012853739
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Social Preferences and Portfolio Choice
Riedl, Arno - 2017
To understand why investors hold socially responsible mutual funds, we link administrative data to survey responses and behavior in incentivized experiments. We find that both social preferences and social signaling explain socially responsible investment (SRI) decisions. Financial motives play...
Persistent link: https://www.econbiz.de/10012973937
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What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies
Ayala, Diana - 2017
show that the determinants of bond market access in EMs vary with global cyclical conditions and across local and foreign … currency bond markets increasingly substituted for banks in channeling liquidity to EMs. In the case of foreign currency … to global factors appears to vary with the size of its foreign currency bond market rather than local fundamentals. Our …
Persistent link: https://www.econbiz.de/10012960099
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Efficiency and Environment Impacts of Electricity Restructuring on Coal-Fired Power Plants
Chan, H. Ron - 2013
We investigate the impacts of electricity market restructuring on fuel efficiency, utilization and, new to this area, cost of coal purchases among coal-fired power plants using a panel data set from 1991 to 2005. Our study focuses exclusively on coal-fired power plants and uses panel data...
Persistent link: https://www.econbiz.de/10013084009
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Self-Enforcing Environmental Agreements and International Trade
Eichner, Thomas - 2013
In the basic model of the literature on international environmental agreements (IEAs) (Barrett 1994; Rubio and Ulph 2006) the number of signatories of self-enforcing IEAs does not exceed three, if non-positive emissions are ruled out. We extend that model by introducing a composite consumer good and...
Persistent link: https://www.econbiz.de/10013086051
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Trade Tariffs and Self-Enforcing Environmental Agreements
Eichner, Thomas - 2013
In the basic model of international environmental agreements (IEAs) (Barrett 1994, Rubio and Ulph 2006) extended by international trade, self-enforcing - or stable - IEAs may comprise up to 60% of all countries (Eichner and Pethig 2013). But these IEAs reduce total emissions only slightly...
Persistent link: https://www.econbiz.de/10013072517