Similar Search Results

What drives inflation? : disentangling demand and supply factors

Eickmeier, Sandra; Hofmann, Boris - 2022

We estimate indicators of aggregate demand and supply conditions based on a structural factor model using a large number of inflation and real activity measures for the United States. We identify demand and supply factors by imposing theoretically motivated sign restrictions on factor loadings....

Persistent link: https://www.econbiz.de/10013460150

A network analysis of the evolution of the German interbank market

Roukny, Tarik; Georg, Co-Pierre; Battiston, Stefano - 2014

In this paper, we report a descriptive investigation of the structural evolution of two of the most important over-the-counter markets for liquidity in Germany: the interbank market for credit and for derivatives. We use end-of-quarter data from the German large credit register between 2002 and...

Persistent link: https://www.econbiz.de/10010405454

Does financial literacy improve financial inclusion? : cross country evidence

Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas - 2018

While financial inclusion is typically addressed by improving the financial infrastructure, we show that a higher degree of financial literacy also has a clear beneficial effect. We study this effect at the cross-country level, which allows us to consider institutional variation. Regarding...

Persistent link: https://www.econbiz.de/10011902705

The political economy of multilateral lending to European regions

Asatryan, Zareh; Havilk, Annika - 2019

We study the political economy of allocation decisions within a major state investment bank. Our focus is the European Investment Bank (EIB) - "The Bank of the EU" - which is the largest multilateral lending (and borrowing) institution in the world. We collect (and make available) information on...

Persistent link: https://www.econbiz.de/10012118753

Contagious zombies

Bittner, Christian; Fecht, Falko; Georg, Co-Pierre - 2021

default probability even compared to average zombie firms. This suggests that suppliers relying on banks' lending decisions as …

Persistent link: https://www.econbiz.de/10012516267

Speculative trade and market newcomers

Klishchuk, Bogdan - 2019

Arguing that in the real world relatively optimistic inexperienced investors are prey for relatively pessimistic veteran traders, we formalize this intuitive conjecture as a proven proposition in a simple model. This agreement to disagree leads to a perpetual bubble, in which more experienced,...

Persistent link: https://www.econbiz.de/10012064782

OTC discount

Roure, Calebe de; Mönch, Emanuel; Pelizzon, Loriana; … - 2019

We study price dispersion and venue choice in the interdealer market for German sovereign bonds, where an exchange and over-the-counter segments coexist. We show that 85% of OTC traded prices are favorable with respect to exchange quotes, indicating the prevalence of an OTC discount. This...

Persistent link: https://www.econbiz.de/10012125222

Identifying empty creditors with a shock and micro-data

Degryse, Hans; Gündüz, Yalın; O'Flynn, Kuchulain; … - 2021

Firms with credit-default swaps (CDS) traded on their debt may face "empty creditors" as hedged creditors have less … bank-firm CDS net notional and credit exposures we find that the probability of default for CDS firms drops when the effect … constrained embed the empty creditor effect into their probability of default estimates of affected firms to a larger extent. So …

Persistent link: https://www.econbiz.de/10012697959

Second-chance offers and buyer reputation : theory and evidence on auctions with default

Engelmann, Dirk; Frank, Jeff; Koch, Alexander K.; … - 2020

-chance" offers, where the runner-up bidder pays his own bid price, and they let sellers leave negative feedback on buyers who default … no incentive to exclude bidders, even if they are nearly certain to default; (iii) buyer reputation systems reward …

Persistent link: https://www.econbiz.de/10012237211

International financial integration and entrepreneurship

Alfaro, Laura (contributor); Charlton, Andrew (contributor) - 2006

Persistent link: https://www.econbiz.de/10003385139