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Central Bank Emergency Support to Securities Markets
King, Darryl - 2017
This paper considers the central bank mandate with respect to financial stability and identifies the links to the functioning of securities markets. It argues that while emergency support to securities markets is an important part of the crisis management response, a high bar should be set for...
Persistent link: https://www.econbiz.de/10012950395
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Handle with Care : Regulatory Easing in Times of COVID-19
Valencia, Fabián; Varghese, Richard; Yao, Weija; … - 2021
The policy response to the COVID-19 shock included regulatory easing across many jurisdictions to facilitate the flow of credit to the economy and mitigate a further ampli-fication of the shock through tighter financial conditions. Using an intraday event study,this paper examines how stock...
Persistent link: https://www.econbiz.de/10013226445
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Oil Prices and GCC Stock Markets : New Evidence from Smooth Transition Models
Ben Cheikh, Nidhaleddine - 2018
Our paper examines the effect of oil price changes on Gulf Cooperation Council (GCC) stock markets using nonlinear smooth transition regression (STR) models. Contrary to conventional wisdom, our empirical results reveal that GCC stock markets do not have similar sensitivities to oil price...
Persistent link: https://www.econbiz.de/10012913874
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Stock Market Liquidity in Chile
Brandao-Marques, Luis - 2016
Chile has a large but relatively illiquid stock market. Global factors such as global risk appetite and monetary policy in advanced economies are key cyclical determinants of liquidity in Chilean equities. Evidence from a cross-section of emerging markets suggests strong protection of minority...
Persistent link: https://www.econbiz.de/10012977357
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The Internationalization of China's Equity Markets
Cortina Lorente, Juan Jose; Schmukler, Sergio L.; Xiao, … - 2023
China’s equity markets internationalization process started in the early 2000s but accelerated after 2012, when Chinese firms’ shares listed in Shanghai and Shenzhen gradually became available to international investors. This paper studies the effects of the post-2012 internationalization...
Persistent link: https://www.econbiz.de/10014254478
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How Did Markets React to Stress Tests?
Candelon, Bertrand - 2015
We use event study methods to compare the market reaction to U.S. and EU-wide stress tests performed from 2009 to 2013. Typically, stress tests have a positive impact on stressed banks' returns. While the 2009 U.S. stress test had a large positive outcome, the impact of subsequent U.S. exercises...
Persistent link: https://www.econbiz.de/10013023274
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Asia's Stock Markets : Are There Crouching Tigers and Hidden Dragons?
Ong, Li - 2014
Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of size and cross-border investment activity, the region's markets are reputed to be more “idiosyncratic” and less reliant on economic and corporate fundamentals in their...
Persistent link: https://www.econbiz.de/10013056805
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The Imf's Reserves Template and Nominal Exchange Rate Volatility
Cady, John - 2007
exchange rate volatility are investigated for 48 countries. Estimation of panel data models indicates that nominal exchange … rate volatility decreases following dissemination of reserves template data while the effects of indebtedness and reserve … adequacy on volatility exhibit statistically significant changes …
Persistent link: https://www.econbiz.de/10012777957
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Foreign Exchange Intervention and the Australian Dollar : Has it Mattered?
Edison, Hali; Cashin, Paul - 2021
(RBA) have had on the level and volatility of the Australian dollar exchange rate. First, using an event study we evaluate … Australian dollar. Second, we investigate the effects of RBA intervention policies on exchange rate volatility over the floating … volatility, which suggests that official intervention may have added to market uncertainty. Overall, the effects of RBA …
Persistent link: https://www.econbiz.de/10013211943
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Capital Requirements for Over-the-Counter Derivatives Central Counterparties
Lin, Li - 2013
The central counterparties dominating the market for the clearing of over-the-counter interest rate and credit derivatives are globally systemic. Employing methodologies similar to the calculation of banks' capital requirements against trading book exposures, this paper assesses the sensitivity...
Persistent link: https://www.econbiz.de/10013085978