Narrow search
Showing 1 - 10 of 317
Cover Image
Herd Behavior in Financial Markets
Cipriani, Marco - 2008
We study herd behavior in a laboratory financial market with financial market professionals. We compare two treatments, one in which the price adjusts to the order flow so that herding should never occur, and one in which event uncertainty makes herding possible. In the first treatment, subjects...
Persistent link: https://www.econbiz.de/10012677606
Cover Image
Fiscal Policy and Lending Relationships
Melina, Giovanni - 2013
This paper studies how fiscal policy affects loan market conditions in the US. First, it conducts a Structural Vector-Autoregression analysis showing that the bank spread responds negatively to an expansionary government spending shock, while lending increases. Second, it illustrates that these...
Persistent link: https://www.econbiz.de/10014409424
Cover Image
Herd Behavior in Financial Markets : An Experiment with Financial Market Professionals
Cipriani, Marco - 2008
We study herd behavior in a laboratory financial market with financial market professionals. We compare two treatments, one in which the price adjusts to the order flow so that herding should never occur, and one in which event uncertainty makes herding possible. In the first treatment, subjects...
Persistent link: https://www.econbiz.de/10014409034
Cover Image
Financial Sector Debt Bias
Luca, Oana - 2016
Most tax systems create a tax bias toward debt finance. Such debt bias increases leverage and may negatively affect … financial stability. This paper models and estimates debt bias in the financial sector, and present novel estimates for … investment banks and non-bank financial intermediaries such as finance and insurance companies. We find debt bias to be pervasive …
Persistent link: https://www.econbiz.de/10014408098
Cover Image
Barriers to Household Risk Management : Evidence from India
Townsend, Robert M - 2012
Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and non-price factors in the adoption of an innovative rainfall insurance product. Demand is...
Persistent link: https://www.econbiz.de/10012690172
Cover Image
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/10009618531
Cover Image
Analysis of the Yield on Foreign Exchange Bearer Certificates : Rationality and Financial Behavior in Pakistan
Abdel-Motaal, Karim - 1994
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014409370
Cover Image
Financing growth in the WAEMU through the regional securities market : past successes and current challenges
Diouf, Mame Astou; Boutin-Dufresne, François - 2012
The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional...
Persistent link: https://www.econbiz.de/10009659805
Cover Image
Too much finance?
Arcand, Jean-Louis L.; Berkes, Enrico; Panizza, Ugo - 2012
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be ""too much"" finance. In particular, our results suggest that finance starts having a...
Persistent link: https://www.econbiz.de/10009618521
Cover Image
Money and collateral
Kumar, Manmohan S.; Stella, Peter - 2012
Between 1980 and before the recent crisis, the ratio of financial market debt to liquid assets rose exponentially in the U.S. (and in other financial markets), reflecting in part the greater use of securitized assets to collateralize borrowing. The subsequent crisis has reduced the pool of...
Persistent link: https://www.econbiz.de/10009614541