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Financial repression lowers the return on government debt and contributes, all else equal, towards its liquidation. However, its full effect on the debt-to-GDP ratio hinges on how repression impacts the economy at large because it alters investment and saving decisions. We develop and estimate a...
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paper shows that financial regulation can be effective at mitigating this type of risk. Exploiting regulatory changes … financial institutions subject to stricter regulation. Following the easing of these regulations, overconfidence-induced risk …-taking increases again. These findings confirm the effectiveness of financial regulation at correcting overconfident behavior, but also …
Persistent link: https://www.econbiz.de/10014477386
This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...
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This paper documents significant cross-border effects of the 2014 US money market fund (MMF) reform on MMFs in the euro area. As US-based prime MMFs became less money-like due to the reform, euro area-based prime MMFs received large inflows from foreign investors. These cross-border flows were...
Persistent link: https://www.econbiz.de/10012876146
legislative regulation of outsourcing. Probably, qualified impact evaluations of this phenomenon should be made, before any …
Persistent link: https://www.econbiz.de/10012058350
elasticity and multiple asymmetric regions, in which trade integration induces wage and productivity changes. Using Canada … Canada-US border on regional market aggregates such as wages, productivity, markups, the mass of varieties produced and …
Persistent link: https://www.econbiz.de/10003868554
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