Dungey, Mardi; McKenzie, Michael; Tambakis, Demosthenes N. - In: Global Finance Journal 19 (2009) 3, pp. 252-267
Flight-to-quality during times of financial crisis is a feature of financial markets. Here, a simple strategic model demonstrates that some preference asymmetry is sufficient to generate endogenous flight-to-quality from an emerging stock market to US Treasury bonds. The empirical evidence from...