withdrew money one month prior to the events. Thedegree of herding among funds is statistically significant, but moderate.Herding …

The paper employs a dynamic market-wide herding behavior measure of 117,166 lending-based campaigns in 119 online … show that herding behavior plays an important signaling role in reducing opportunity costs if the auction does not receive … enough monetary bids. Additionally, our threshold models identify significant herding behavior after funding goals are raised …

In our network analysis of 40 developed, emerging and frontier stock markets during 2006-2014, we describe and model … between markets and somewhat weaker temporal effects with regard to the US equity market - volatility spillovers decrease when … markets are characterized by greater temporal proximity. Volatility spillovers also present a high degree of …

We study reputational herding in financial markets in a laboratory experiment. In the spirit of Dasgupta and Prat (2008 …

actions that contradict their high quality signals they herd more extensively than predicted by Bayes-rational herding …-Bayesian updating and informational misinferences are the two channels that drive excessive herding, while the strong (resp. mild … observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …

We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We … observe two striking patterns visible since the 2007/8 Global Financial Crisis. First, while China has been gradually reducing … these two countries, there is a remarkable reversal in the patterns of exchange rate misalignment: China’s currency has …

financial markets. The survey elicits beliefs that are crucial for macroeconomics and finance, and matches respondents with …

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets … suggest that spillovers from regional and global markets are present in the vast majority of EMEs. However, the nature of … markets ; emerging markets …