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optimal portfolio strategies by fund managers. In emerging markets, dedicated managers outperforming a benchmark index and … global managers maximizing absolute returns lead to systematic interactions between asset prices, without asymmetric …
Persistent link: https://www.econbiz.de/10014404100
Persistent link: https://www.econbiz.de/10009488605
Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where individuals interact to consume goods), 'teleworkable'...
Persistent link: https://www.econbiz.de/10012251998
Machine learning tools are well known for their success in prediction. But prediction is not causation, and causal discovery is at the core of most questions concerning economic policy. Recently, however, the literature has focused more on issues of causality. This paper gently introduces some...
Persistent link: https://www.econbiz.de/10012154563
Public and private sector balance sheets are an important component to any analysis of debt sustainability. A vulnerable and indebted private sector can become a sudden liability for the government; alternatively, resilient household and bank balance sheets may reveal potential sources of...
Persistent link: https://www.econbiz.de/10012613508
In this paper, we investigate whether a firm's composition of foreign liabilities matters for their resilience during economic turmoil and examine which characteristics determine a firm's foreign capital structure. Using firm-level data, we corroborate previous findings from the (international)...
Persistent link: https://www.econbiz.de/10013170253
This paper argues that in the European Union (EU) deposit insurance funds are too difficult to use in bank resolution and too easy to use outside resolution. The paper proposes reforms in three areas for the effective management of bank failures of small and medium-sized banks in the European...
Persistent link: https://www.econbiz.de/10013170606
While the Korean unemployment rates are currently among the lowest in OECD countries, the labor market duality and the underemployment in some segments of the population are important labor market challenges, and factors contributing to lower potential growth. The paper shows the benefits of...
Persistent link: https://www.econbiz.de/10014411461
The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment by estimating medium-term fiscal multipliers during protracted recessions (PR) in a sample of 17 OECD countries. Based on Jorda’s (2005) local projection methodology, we find...
Persistent link: https://www.econbiz.de/10014411769
Emerging economies have high shares of self-employed individuals running owner-only firms who, in contrast to many salaried firms, have little access to formal financing and therefore rely on informal financing (input credit) from other firms. We build a small open economy real business cycle...
Persistent link: https://www.econbiz.de/10014412026