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Ahnert, Toni; Machado, Caio; Pereira, Ana Elisa Gonçalves - 2020 - Last updated: June 4, 2020

Government interventions such as bailouts are often implemented in times of high uncertainty. Policymakers may therefore rely on information from financial markets to guide their decisions. We propose a model in which a policymaker learns from market activity and where market participants have...

Persistent link: https://www.econbiz.de/10012243366

Does the Global Trade Slowdown Matter?

Constantinescu, Cristina - 2018

Since the Global Financial Crisis, world trade growth has been subdued and lagging slightly behind growth of gross … trade-income relationship, and then investigates its consequences for economic growth. On the demand side, sluggish world …

Persistent link: https://www.econbiz.de/10012936149

The Global Trade Slowdown : Cyclical or Structural?

Constantinescu, Cristina - 2018

This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses …

Persistent link: https://www.econbiz.de/10012937557

Non-Tariff Measures and the World Trading System

Ederington, Josh - 2017

With the success of the World Trade Organization and its predecessor, the General Agreement on Tariffs and Trade, in … literature on non-tariff measures in the world trading system. It provides a set of stylized facts based on available data on non … measures in the trade literature with a focus on the rules and institutions that govern non-tariff measures in the world …

Persistent link: https://www.econbiz.de/10012969264

How Much Will the Belt and Road Initiative Reduce Trade Costs?

de Soyres, Francois - 2018

shipment times and trade costs. For the world, the average reduction in shipment time will range between 1.2 and 2.5 percent …

Persistent link: https://www.econbiz.de/10012909447

Cyber security and ransomware in financial markets

Ahnert, Toni; Brolley, Michael; Cimon, David; Riordan, Ryan - 2022 - Last updated: July 14, 2022

Financial markets face the constant threat of cyber attacks. We develop a principal-agent model of cyber-attacking with fee-paying clients who delegate security decisions to financial platforms. We derive testable implications about clients' vulnerability to cyber attacks and about the fees...

Persistent link: https://www.econbiz.de/10013277108

Opaque assets and rollover risk

Ahnert, Toni; Nelson, Benjamin F. - 2016

We model the asset-opacity choice of an intermediary subject to rollover risk in wholesale funding markets. Greater opacity means investors form more dispersed beliefs about an intermediary’s profitability. The endogenous benefit of opacity is lower fragility when profitability is expected to...

Persistent link: https://www.econbiz.de/10011451106

Should bank capital regulation be risk sensitive?

Ahnert, Toni; Chapman, James; Wilkins, Carolyn - 2018

We present a simple model to study the risk sensitivity of capital regulation. A banker funds investment with uninsured deposits and costly capital, where capital resolves a moral hazard problem in the banker's choice of risk. Investors are uninformed about investment quality, but a regulator...

Persistent link: https://www.econbiz.de/10011903813

Confidence building in emerging stock markets

Perotti, Enrico C. (contributor); Laeven, Luc (contributor); … - 2000 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001785253

Rollover risk, liquidity and macroprudential regulation

Ahnert, Toni - 2014

I study rollover risk in the wholesale funding market when intermediaries can hold liquidity ex ante and are subject to fire sales ex post. Precautionary liquidity restores multiple equilibria in a global rollover game. An intermediate liquidity level supports both the usual run equilibrium and...

Persistent link: https://www.econbiz.de/10010360348