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Liquidity Transformation in Asset Management : Evidence from the Cash Holdings of Mutual Funds

Chernenko, Sergey - 2016

We study liquidity transformation in mutual funds using a novel data set on their cash holdings. To provide investors with claims that are more liquid than the underlying assets, funds engage in substantial liquidity management. Specifically, they hold substantial amounts of cash, which they use...

Persistent link: https://www.econbiz.de/10012987135

Wage Gaps vs. Output Gaps : is There a Common Story for All of Europe?

Gordon, Robert J. - 2010

Persistent link: https://www.econbiz.de/10012760232

Stock Return Predictability : Is it There?

Bekaert, Geert - 2010

We ask whether stock returns in France, Germany, Japan, the UK and the US are predictable by three instruments: the …

Persistent link: https://www.econbiz.de/10012763174

The Term Structure of Forward Exchange Premia and the Forecastibility of Spot Exchange Rates : Correcting the Errors

Clarida, Richard - 2010

We present theory and evidence that challenges the view that forward premia contain little information regarding subsequent spot rate movements. Using weekly dollar-mark and dollar sterling data, we find that spot and forward exchange rates together are well represented by a vector error...

Persistent link: https://www.econbiz.de/10012763403

Mpc Heterogeneity in Europe : Sources and Policy Implications

Ampudia, Miguel - 2018

income ratios by education and country. The policy functions based upon the estimation are used to characterize the … stock returns. Monetary policy has a larger impact on consumption in Italy and Spain compared to France and Germany …

Persistent link: https://www.econbiz.de/10012910644

Improving the Measurement of Earnings Dynamics

Daly, Moira - 2016

The stochastic process for earnings is the key element of incomplete markets models in modern quantitative macroeconomics. We show that a simple modification of the canonical process used in the literature leads to a dramatic improvement in the measurement of earnings dynamics in administrative...

Persistent link: https://www.econbiz.de/10012977281

Exit, Voice or Loyalty? An Investigation into Mandated Portability of Front-Loaded Private Health Plans

Atal, Juan Pablo - 2017

We study theoretically and empirically how consumers in an individual private long-term health insurance market with front-loaded contracts respond to newly mandated portability requirements of their old-age provisions. To foster competition, effective 2009, German legislature made the...

Persistent link: https://www.econbiz.de/10012954932

Trade and Tasks : An Exploration Over Three Decades in Germany

Becker, Sascha O. - 2014

This paper combines representative worker-level data that cover time-varying job-level task characteristics of an economy over a long time span with sector-level bilateral trade data for merchandize and services. We carefully create longitudinally consistent workplace characteristics from the...

Persistent link: https://www.econbiz.de/10013040240

Unemployment in the Great Recession : A Comparison of Germany, Canada and the United States

Hoffmann, Florian - 2014

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …

Persistent link: https://www.econbiz.de/10013043619

Central Bank Credibility, Reputation and Inflation Targeting in Historical Perspective

Bordo, Michael D. - 2014

This paper examines the historical evolution of central bank credibility using both historical narrative and empirics for a group of 16 countries, both advanced and emerging. It shows how the evolution of credibility has gone through a pendulum where credibility was high under the classical gold...

Persistent link: https://www.econbiz.de/10013043621

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