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We propose a new Sharpe ratio index obtained from return and volatility spillover indices to individual assets from the whole financial system. We use our new approach to shed light on a new perspective on a hot topic examining the safe-haven assets after Covid-19. To do that, we compare both...
Persistent link: https://www.econbiz.de/10012705552
This paper analyzes the role of networks in the spatial diffusion of local economic shocks in Africa. We show that road … then determine the key players, i.e., which districts are key in propagating local economic shocks across Africa. Using …
Persistent link: https://www.econbiz.de/10012194175
Using repeated large-scale surveys of U.S. households, we study the cryptocurrency investment decisions and motives of … households relative to other financial assets. Cryptocurrency holders tend to be young, white, male and more libertarian relative … purchase cryptocurrency subsequently. We compare these views and behaviors to those of households toward other financial assets …
Persistent link: https://www.econbiz.de/10014318228
Bitcoin in particular and so-called cryptocurrencies in general have shaken up the financial world and seem to be claiming an increasing size of the market share. These new virtual assets present investors with significant opportunities, but also with significant risks. This paper analyzes the...
Persistent link: https://www.econbiz.de/10012517614
Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...
Persistent link: https://www.econbiz.de/10012256941
We develop a general equilibrium model that highlights the trade-offs between physical and digital forms of retail central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency, possibilities for tax evasion, and, potentially,...
Persistent link: https://www.econbiz.de/10014280913
presumed growth benefits of financial integration. Indeed, a new literature proposes that the indirect benefits of financial … integration may be more important than the traditional financing channel emphasized in previous analyses. A major complication …
Persistent link: https://www.econbiz.de/10003831857
to mobility is in promoting the integration of international workers in the European migration process, which can be …
Persistent link: https://www.econbiz.de/10003809161
We investigate the effects of interregional labor market integration in a two-sector, overlapping-generations model … heterogeneous welfare effects of labor market integration. Whereas individuals without residential property lose from immigration … formation depends on initial conditions at the time of labor market integration. Our model is also capable to explain the …
Persistent link: https://www.econbiz.de/10009717256
The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the …. Several factors, including international financial integration, are shown to drive the long-run RER in emerging countries. It … is found that the new financial environment characterised by international financial integration leads to a depreciation …
Persistent link: https://www.econbiz.de/10003816542