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Donor Herding and Domestic Debt Crisis.
Chirwa, Ephraim W - 2006
Persistent link: https://www.econbiz.de/10012691195
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Herd Behavior in Financial Markets
Cipriani, Marco - 2008
, 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 herd seldom, in accordance with both the theory and previous … by the theory. In the second treatment, the proportion of herding decisions increases, but not as much as theor …
Persistent link: https://www.econbiz.de/10012677606
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Herd Behavior in Financial Markets : An Experiment with Financial Market Professionals
Cipriani, Marco - 2008
, 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 herd seldom, in accordance with both the theory and previous … by the theory. In the second treatment, the proportion of herding decisions increases, but not as much as theory suggests …
Persistent link: https://www.econbiz.de/10014409034
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Fiscal Stimulus with Spending Reversals
Müller, Gernot - 2009
The impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that links current stimulus to...
Persistent link: https://www.econbiz.de/10012677773
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Excessive Lending, Leverage, and Risk-Taking in the Presence of Bailout Expectations
Georgiou, Andréas - 2009
The financial crisis that began in 2007 has brought to the fore the issues of excesses in lending, leverage, and risk-taking as some of the fundamental causes of this crisis. At the same time, in dealing with the financial crisis there have been large scale interventions by governments, often...
Persistent link: https://www.econbiz.de/10012677896
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Do Household Expectations Help Predict Inflation?
Brandão-Marques, Luis - 2023
We examine whether changes in the distribution of household inflation expectations contain information on future inflation. We first discuss recent shifts in micro data from the US, UK, Germany, and Canada. We then zoom in on the US to explore econometrically whether distributional...
Persistent link: https://www.econbiz.de/10015058986
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How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil?
Dizioli, Allan - 2023
This paper estimates a standard Dynamic Stochastic General Equilibrium (DSGE) model that includes a wage and price Phillip's curves with different expectation formation processes for Brazil and the USA. Other than the standard rational expectation process, we also use a limited rationality...
Persistent link: https://www.econbiz.de/10015059818
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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
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Exchange rate fluctuations and international portfolio rebalancing in Thailand
Gyntelberg, Jacob; Loretan, Mico; Subhanij, Tientip - 2012
We present empirical evidence that the Thai baht's value is driven in part by investors' cross-border equity portfolio rebalancing decisions. Our results are based on comprehensive datasets of FX and stock market transactions undertaken by nonresident investors in Thailand in 2005 and 2006....
Persistent link: https://www.econbiz.de/10009621634
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Financial Integration: A New Methodology and an Illustration
Flood, Robert P. - 2004
Persistent link: https://www.econbiz.de/10014275662