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Capital flow reversals and currency crises : do capital flow types matter?
Zhang, Mengting; Steiner, Andreas; Haan, Jakob de; … - 2024
We analyse how reversals of several types of capital flows impact currency crises in emerging market and developing economies. Estimates of logit models show that reversals of (equity and debt) portfolio flows significantly increase the likelihood of currency crises in emerging market economies....
Persistent link: https://www.econbiz.de/10014502445
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Liquidity traps and large-scale financial crises
Caggiano, Giovanni; Castelnuovo, Efrem; Damette, Olivier; … - 2018
This paper estimates a nonlinear Threshold-VAR to investigate if a Keynesian liquidity trap due to a speculative motive was in place in the U.S. Great Depression and the recent Great Recession. We find clear evidence in favor of a breakdown of the liquidity effect after an unexpected increase in...
Persistent link: https://www.econbiz.de/10011863616
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Modelling profitability of private equity : a fractional integration approach
Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; … - 2022
This paper analyses the stochastic behaviour of Private Equity returns (a measure of profitability) applying fractional … (US, Europe, Asia/Pacific, the Rest of the World and the Total) and investment types (Buyout & Growth Equity, Venture …. Differences are also found in the results by asset class. The implications of these findings for private equity management, profit …
Persistent link: https://www.econbiz.de/10013285647
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On the profitability of cross-ownership in Cournot oligopolies : stock sizes matter
Benchekroun, Hassan; Dai, Miao; Long, Ngo Van - 2020
We examine the profitability of cross-ownership in an oligopolistic industry where firms compete as Cournot rivals. We … over to the case of non-renewable resource industries. The profitability of a symmetric cross-ownership can be positive …
Persistent link: https://www.econbiz.de/10012263696
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Profit shifting and investment effects : the implications of zero-taxable profits
Köthenbürger, Marko; Mardan, Mohammed; Stimmelmayr, … - 2018
profit. Setting up a model that allows for profitable and loss-making affiliates of multinationals, we show that profit … equilibrium, affiliates might over-invest and the bunching-related investment effects generate a tendency for too high profit …
Persistent link: https://www.econbiz.de/10011794726
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International Financial Crises
Dornbusch, Rudiger; Fischer, Stanley - 2003
Our friend and colleague Rüdiger Dornbusch passed away before he was able tocomplete his book based on the Munich Lectures in Economics that he gave inNovember 17, 1998, at the Center for Economic Studies of Ludwig-Maximilians-Universität.The lectures contain a fascinating overview of the...
Persistent link: https://www.econbiz.de/10011507825
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Boom-bust cycles in middle income countries : facts and explanation
Tornell, Aaron; Westermann, Frank - 2002
In this paper we characterize empirically the comovements of macro variables typically observed in middle income countries, as well as the boom-bust cycle that has been observed during the last two decades. We find that many countries that have liberalized their financial markets, have witnessed...
Persistent link: https://www.econbiz.de/10011410453
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Moral hazard effects of bailing out under asymmetric information
Mundaca, B. Gabriela - 2002
With a four-stage sequential game model, we study how bailouts ameliorate the effects of liquidation on fundamentals, reduce the likelihood of currency crises and affect the financial sector's (non-observable) effort. In stage 1, exchange rate regime is announced and all agents receive...
Persistent link: https://www.econbiz.de/10011539079
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Secular stagnation : is immigration part of the solution?
Alves, José; Morgado, Sandro - 2022
In our article we review the secular stagnation hypothesis, firstly postulated by Hansen (1939), to describe the current macroeconomic dynamics faced by developed economies. Based in the existing literature, we elaborate on a workable definition of secular stagnation founded on four pillars:...
Persistent link: https://www.econbiz.de/10012815750
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The collapse speed of China's exports in the 2008-2009 financial crisis
Jing, Ran - 2011
This paper studies the performance of China's exports during the 2008-2009 financial crisis. It focuses on the speed at which China's exports were hit by this downturn. Product-country monthly exports data is utilized. It is found that GDP growth rates of importing countries play an important...
Persistent link: https://www.econbiz.de/10009303944