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Procyclical Behavior of Institutional Investors During the Recent Financial Crisis : Causes, Impacts, and Challenges

Papaioannou, Michael G. - 2013

This paper (i) provides evidence on the procyclical investment behavior of major institutional investors during the global financial crisis; (ii) identifies the main factors that could account for such behavior; (iii) discusses the implications of procyclical behavior; and (iv) proposes a...

Persistent link: https://www.econbiz.de/10013074694

Calibrating Macroprudential Policies in Europe Amid Rising Housing Market Vulnerability

Valderrama, Laura - 2023

Housing market developments are in the spotlight in Europe. Over-stretched valuations amid tightening financial conditions and a cost-of-living crisis have increased risks of a sustained downturn and exposed challenging trade-offs for macroprudential policy between ensuring financial system...

Persistent link: https://www.econbiz.de/10014355770

Islamic Finance, Consumer Protection, and Financial Stability

Lukonga, Inutu - 2015

Consumer protection and financial literacy are essential pillars of a well functioning and stable financial system. As the global financial crisis demonstrated, inadequate attention to consumer protection and financial literacy can lead to financial instability. Though Shari'ah principles...

Persistent link: https://www.econbiz.de/10013021443

Government Bonds and Their Investors : What are the Facts and Do They Matter?

Andritzky, Jochen R. - 2012

This paper introduces a new dataset on the composition of the investor base for government securities in the G20 advanced economies and the euro area. During the last decades, investors from abroad have increased their presence in government bond markets. The financial crisis broke this trend....

Persistent link: https://www.econbiz.de/10013102203

Pension Funds and Emerging Markets

Chan-Lau, Jorge - 2021

This paper focuses on the investment behavior of pension funds in developed and emerging market countries. First, it analyzes the main determinants of the emerging market asset allocation of pension funds in developed countries. Second, it assesses how pension funds in emerging markets have...

Persistent link: https://www.econbiz.de/10013212329

Post-Crisis Changes in Global Bank Business Models : A New Taxonomy

Caparusso, John - 2020

The Global Financial Crisis unleashed changes in the operating and regulatory environments for large international banks. This paper proposes a novel taxonomy to identify and track business model evolution for the 30 Global Systemically Important Banks (G-SIBs). Drawing from banks' reporting, it...

Persistent link: https://www.econbiz.de/10012843301

Financial Inclusion and Bank Competition in Sub-Saharan Africa

Mengistu, Azanaw - 2019

In this paper we study how competition and financial soundness affect financial inclusion in Sub-Saharan Africa (SSA). We use detailed individual-level survey data, combined with key country-level indicators of bank competition and financial soundness, to study the effect on the adoption of...

Persistent link: https://www.econbiz.de/10012895126

Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification

Carvalho, Carlos - 2017

Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations. In this paper, we take a novel perspective to study firms' product scope adjustment behavior through the lens of asset pricing. Using a unique panel scanner data set containing...

Persistent link: https://www.econbiz.de/10012950405

Financial Regulation and the Current Account

Lanau, Sergi - 2012

This paper examines the relationship between financial regulation and the current account in an intertemporal model of … the current account where financial regulation affects the current account through liquidity constraints. Greater … tested with an interacted panel VAR model where the coefficients are allowed to vary with the degree of financial regulation …

Persistent link: https://www.econbiz.de/10013107071

Central Bank Independence and Macro-Prudential Regulation

Ueda, Kenichi - 2012

We consider the optimality of various institutional arrangements for agencies that conduct macro-prudential regulation …

Persistent link: https://www.econbiz.de/10013107404

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