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Contagion of Fear : Is the Impact of COVID-19 on Sovereign Risk Really Indiscriminate?
Cevik, Serhan; Ozturkkal, Belma - 2021
significant impact on market-implied sovereign default risk. This adverse effect appears to be more pronounced in advanced …
Persistent link: https://www.econbiz.de/10013250064
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Global Financial Crisis, Financial Contagion, and Emerging Markets
Ozkan, F. Gulcin - 2013
The recent global financial crisis was the first in recent history that was triggered by problems in the financial system of the mature economies. Existing work on financial crisis in emerging market countries, however, almost exclusively focus on the role of financial frictions in the domestic...
Persistent link: https://www.econbiz.de/10013088405
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Reducing Risk While Sharing it : A Fiscal Recipe for the EU at the Time of COVID-19
Batini, Nicoletta; Lamperti, Francesco; Roventini, Andrea - 2021
support to member countries lacks credibility. Some form of fiscal risk sharing is indeed better than none, especially in … presence of increasing sovereign default risk of some EU member countries. The moral hazard created by risk sharing can be … costs. When these are low, risk sharing and delegation are substitutes and it is optimal to opt for high delegation and low …
Persistent link: https://www.econbiz.de/10013315110
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Capital Markets, COVID-19 and Policy Measures
ElFayoumi, Khalid; Hengge, Martina - 2021
global shock and that pre-COVID macroeconomic conditions, such as lower sovereign risk and higher trade openness, contributed …
Persistent link: https://www.econbiz.de/10013234704
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Corporate Vulnerabilities in Vietnam and Implications of COVID-19
Kroeger, Thilo; Nguyen, Anh Thi Ngoc; Zhang, Y. Sophia; … - 2021
The paper uses firm-level data to assess the financial health of the Vietnamese non-financial corporate sector on the eve of pandemic. Our analysis finds that smaller domestic firms were particularly vulnerable even by regional comparison. A sensitivity analysis suggests that the COVID-19 shock...
Persistent link: https://www.econbiz.de/10013249409
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Effects of Emerging Market Asset Purchase Program Announcements on Financial Markets During the COVID-19 Pandemic
Sever, Can; Goel, Rohit; Drakopoulos, Dimitrios; … - 2021
The COVID-19 pandemic led many emerging market central banks to adopt, for the first time, unconventional policies in the form of asset purchase programs. In this study, we analyze the effects of these announcements on domestic financial markets using both event studies and local projections...
Persistent link: https://www.econbiz.de/10013250070
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Hang in There : Stock Market Reactions to Withdrawals of COVID-19 Stimulus Measures
Chan-Lau, Jorge A.; Zhao, Yunhui - 2021
The COVID-19 pandemic prompted unprecedented economic stimulus worldwide. We empirically examine the impact of a withdrawal of fiscal stimulus policies on the stock markets. After constructing a database of withdrawal events, we use event study analysis and cross-country regressions to assess...
Persistent link: https://www.econbiz.de/10013250077
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Mobility Under the COVID-19 Pandemic : Asymmetric Effects Across Gender and Age
Caselli, Francesca; Grigoli, Francesco; Sandri, Damiano; … - 2021
Lockdowns and voluntary social distancing led to significant reduction in people's mobility. Yet, there is scant evidence on the heterogeneous effects across segments of the population. Using unique mobility indicators based on anonymized and aggregate data provided by Vodafone for Italy,...
Persistent link: https://www.econbiz.de/10013250080
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Assessing Targeted Containment Policies to Fight COVID-19
Checo, Ariadne; Grigoli, Francesco; Mota, Jose M. - 2021
place for longer, and herd immunity is achieved later. Moreover, we find that increased interactions between low- and high-risk …
Persistent link: https://www.econbiz.de/10013250084
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Government Intervention and Bank Market Power : Lessons from the Global Financial Crisis for the COVID-19 Crisis
Tan, Brandon; Igan, Deniz; Martinez Peria, Maria Soledad; … - 2021
The COVID-19 pandemic could result in large government interventions in the banking industry. To shed light on the possible consequences on market power, we rely on the experience of the global financial crisis and exploit granular data on government interventions in more than 800 banks across...
Persistent link: https://www.econbiz.de/10013250086