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The Resilience of Central, Eastern and Southeastern Europe (CESEE) Countries During ECB's Monetary Cycles
Aizenman, Joshua; Saadaoui, Jamel - National Bureau of Economic Research - 2024
variables for financial development, central bank independence, and the inflation rate preceding the cycles. These findings may …
Persistent link: https://www.econbiz.de/10015072898
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A Luna-tic Stablecoin Crash
Uhlig, Harald - National Bureau of Economic Research - 2022
After remaining close to 1 US Dollar since its inception in November 2020, the algorithmic stablecoin UST crashed in the two weeks of May 9th to May 15th, 2022, leading to a price collapse of the underlying LUNA token and the erasure of more than 50 Billion U.S. Dollar or 90% in market value
Persistent link: https://www.econbiz.de/10013334473
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Answering the Queen : Machine Learning and Financial Crises
Fouliard, Jeremy - 2020
Financial crises cause economic, social and political havoc. Macroprudential policies are gaining traction but are still severely under-researched compared to monetary policy and fiscal policy. We use the general framework of sequential predictions also called online machine learning to forecast...
Persistent link: https://www.econbiz.de/10012482520
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Contagion in the European Sovereign Debt Crisis
Glover, Brent - 2014
We use a network model of credit risk to measure market expectations of the potential spillovers from a sovereign default. Specifically, we develop an empirical model, based on the recent theoretical literature on contagion in financial networks, and estimate it with data on sovereign credit...
Persistent link: https://www.econbiz.de/10012458098
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The Puzzling Behavior of Spreads during Covid
Fourakis, Stelios S.; Karabarbounis, Loukas - National Bureau of Economic Research - 2024
experience of Greece, the most extreme manifestation of the puzzling behavior of spreads during Covid. We develop a small open … boom-bust cycle of Greece before Covid and salient observations on macro aggregates, government debt, and the sovereign …
Persistent link: https://www.econbiz.de/10014468244
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Financial Dampening
Wieland, Johannes F. - 2016
monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank …
Persistent link: https://www.econbiz.de/10012456534
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Global Risk, Non-Bank Financial Intermediation, and Emerging Market Vulnerabilities
Chari, Anusha - National Bureau of Economic Research - 2023
Over the last two decades, the unprecedented increase in non-bank financial intermediation, particularly open …
Persistent link: https://www.econbiz.de/10014250161
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Currency Centrality in Equity Markets, Exchange Rates and Global Financial Cycles
Rey, Hélène; Stavrakeva, Vania; Tang, Jenny - National Bureau of Economic Research - 2024
The paper explores empirically the tight links between exchange rates and the global network of equity holdings. Exchange rates can be expressed in terms of "equity net currency supplies", i.e. local currency stock market capitalization minus equity holdings, denominated in investors'...
Persistent link: https://www.econbiz.de/10015072944
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Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?
Acharya, Viral V. - 2019
We investigate the transmission of central bank liquidity to bank deposits and loan spreads in Europe over the period … from January 2006 to June 2010. We find evidence consistent with an impaired transmission channel due to bank risk. Central … bank liquidity does not translate into lower loan spreads for high-risk banks for maturities beyond one year, even as it …
Persistent link: https://www.econbiz.de/10012480422
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Market Response to Policy Initiatives during the Global Financial Crisis
Aït-Sahalia, Yacine - 2010
This paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia. Announcements of interest rate cuts, liquidity support, liability...
Persistent link: https://www.econbiz.de/10012462841