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Classical theories of monetary economics predict that real stock returns are negatively correlated with inflation when … countries with hyperinflation. In this paper, I examine the stock return-inflation relation under different monetary policy … regimes and conditions using an expanded dataset of 71 economies. Empirical evidence suggests that the stock return-inflation …
Persistent link: https://www.econbiz.de/10012796818
There is now a substantial theoretical literature arguing that inflation impedes financial deepening. Furthermore, it … has been hypothesized that the relationship is a nonlinear one, in that there is a threshold level of inflation below … which inflation has a positive effect on financial depth, but above which the effect turns negative. Using a large cross …
Persistent link: https://www.econbiz.de/10014403632
Persistent link: https://www.econbiz.de/10009424813
This paper takes a step in empirically testing the implications of a number of theoretical models that attempt to highlight the dynamics behind currency crises. By focusing on countries with broadly disparate economic and political arrangements, the study attempts to determine the extent to...
Persistent link: https://www.econbiz.de/10014400634
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...
Persistent link: https://www.econbiz.de/10014401282
Following a period of disinflation during the 1990s and early 2000s, inflation in emerging markets has remained … remarkably low and stable. Was this related to a global disinflation environment triggered by China's integration into world … inflation performance in a sample of 19 large emerging markets in the past couple of decades and quantify the impact of domestic …
Persistent link: https://www.econbiz.de/10011932519
Persistent link: https://www.econbiz.de/10009572545
Persistent link: https://www.econbiz.de/10009487114
Persistent link: https://www.econbiz.de/10010359866
The unprecedented collapse of international interbank borrowing was a prominent feature of the global financial crisis that started in August 2007. This paper focuses on the drivers of the retrenchment from 32 advanced and emerging banking systems. Using novel risk-weighted indexes the paper...
Persistent link: https://www.econbiz.de/10012670993