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German bond yields and debt supply : is there a "bund premium"?
Paret, Anne-Charlotte; Weber, Anke - 2019
Are Bunds special? This paper estimates the 'Bund premium' as the difference in convenience yields between other sovereign safe assets and German government bonds adjusted for sovereign credit risk, liquidity and swap market frictions. A higher premium suggests less substitutability of sovereign...
Persistent link: https://www.econbiz.de/10012154614
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Corporate Bond Risk and Real Activity : An Empirical Analysis of Yield Spreads and their Systematic Components
Ivaschenko, Iryna V. - 2001
forecasting horizon, both in- and out-of-sample. Finally, a regime-switching estimation shows that the systematic risk component …
Persistent link: https://www.econbiz.de/10014400877
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Currency Risk Premia in Global Stock Markets
Merritt, Matthew D. - 2006
Large fundamental imbalances persist in the global economy, with potential exchange rate implications. This paper assesses whether exchange rate risk is priced across G-7 stock markets. Given the multitude of hedging instruments available, theory suggests that stock market investors should not...
Persistent link: https://www.econbiz.de/10014402492
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Trade and inclusive growth
Bacchetta, Marc; Cerra, Valerie; Piermartini, Roberta; … - 2021
claims that the rise in inequality in many countries can be attributed to the concurrent rise in trade competition …
Persistent link: https://www.econbiz.de/10012518909
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The impact of international migration on inclusive growth : a review
Koczan, Zsoka; Peri, Giovanni; Pinat, Magali; Rozhkov, … - 2021
technological transfers. This paper surveys our understanding of how migration affects growth and inequality through the impact on …
Persistent link: https://www.econbiz.de/10012518988
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Financial globalization and inequality : capital flows as a two-edged sword
Eichengreen, Barry; Csonto, Balazs; ElGanainy, Asmaa Adel; … - 2021
Persistent link: https://www.econbiz.de/10012487207
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Innocent bystanders? : monetary policy and inequality in the U.S.
Coibion, Olivier; Gorodnichenko, Yuriy; Küng, Lorenz; … - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the … United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total … historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we …
Persistent link: https://www.econbiz.de/10009621686
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Innocent Bystanders? : Monetary Policy and Inequality in the U.S
Silvia, John - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the … United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total … historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we …
Persistent link: https://www.econbiz.de/10014395691
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Predicting downside risks to house prices and macro-financial stability
Deghi, Andrea; Katagiri, Mitsuru; Shahid, Sohaib; … - 2020
This paper predicts downside risks to future real house price growth (house-prices-at-risk or HaR) in 32 advanced and emerging market economies. Through a macro-model and predictive quantile regressions, we show that current house price overvaluation, excessive credit growth, and tighter...
Persistent link: https://www.econbiz.de/10012252738
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Inequality, Leverage and Crises
Ranciere, Romain - 2010
The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial...
Persistent link: https://www.econbiz.de/10014402855