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The effect of oil price: shocks on asset markets : evidence from oil inventory news

Alquist, Ron; Ellwanger, Reinhard; Jin, Jianjian - 2020 - Last updated: March 23, 2020

We quantify the reaction of U.S. equity, bond futures, and exchange rate returns to oil price shocks driven by oil inventory news. Across most sectors, equity prices decrease in response to higher oil prices before the 2007/08 crisis but increase after it. Positive oil price shocks cause a...

Persistent link: https://www.econbiz.de/10012181225

U.S. Macroeconomic news and low-frequency changes in small open economies' bond yields

Xing, Bingxin Ann; Feunou, Bruno; Nongni-Donfack, Morvan; … - 2024 - Last updated: April 17, 2024

This paper investigates the importance of U.S. macroeconomic news in driving low-frequency fluctuations in the term structure of interest rates in Canada, Sweden and the United Kingdom. We follow two complementary approaches: First, we apply a regression-based framework that aggregates the...

Persistent link: https://www.econbiz.de/10014558958

Corporate balance sheets in developed economies : implications for investment

Côté, Denise (contributor); … - 2007

material to the economy's investment prospects and whether the importance of this channel differs depending on the structure of … corporate financing i.e., bank-based or market-oriented financing structures. Based on a dynamic business investment error … financial position of non-financial corporations has a statistically significant impact on aggregate business investment growth …

Persistent link: https://www.econbiz.de/10003462971

Exporting and FDI with endogenous productivity

Secrieru, Oana (contributor); … - 2007

foreign direct investment (FDI) affects firm productivity, when productivity is endogeneous as a function of training. The …

Persistent link: https://www.econbiz.de/10003463630

Government corruption and foreign direct investment under the threat of expropriation

Hajzler, Christopher; Rosborough, Jonathan - 2016

Foreign investment is often constrained by two forms of political risk: expropriation and corruption. We examine the … role of government corruption in foreign direct investment (FDI) when contracts are not fully transparent and investors …

Persistent link: https://www.econbiz.de/10011446183

Expropriation risk and FDI in developing countries : does return of capital dominate return on capital?

Akhtaruzzaman, M.; Berg, Nathan; Hajzler, Christopher - 2017

Previously reported effects of institutional quality and political risks on foreign direct investment (FDI) are mixed … investment value (i.e., return on capital). A one-standarddeviation reduction in expropriation risk is associated with a 72 per … dimensions of institutions and political risk, and may even reduce optimal investment as these institutions improve. …

Persistent link: https://www.econbiz.de/10011603418

Does outward foreign investment matter for Canadian productivity? : evidence from greenfield investments

Rai, Naveen; Suchanek, Lena; Bernier, Maria - 2018

This paper seeks to understand how outward foreign direct investment (FDI) affects the productivity of Canadian firms …. We estimate the impact of outward greenfield investment on measures of firm-level productivity using FDI data from … gains one to two years after the investment, compared with firms that are otherwise similar but remain domestic, suggesting …

Persistent link: https://www.econbiz.de/10011878649

Market size and entry in international trade : product versus firm fixed costs

Steingress, Walter - 2018

This paper develops a theoretical framework to infer the nature of fixed costs from the relationship between entry patterns in international markets and destination market size. If fixed costs are at the firm level, firms take advantage of an intrafirm spillover by expanding firm-level product...

Persistent link: https://www.econbiz.de/10011897710

Macroeconomic determinants of the term structure of corporate spreads

Yang, Jun (contributor) - 2008

We investigate the macroeconomic determinants of corporate spreads using a no-arbitrage technique. Structural shocks are identified by a New-Keynesian model. Treasury bonds are priced in an affine model with time-varying risk premia. Corporate bonds are priced in a reduced-form credit risk model...

Persistent link: https://www.econbiz.de/10003772980

Aggregate and welfare effects of redistribution of wealth under inflation and price-level targeting

Meh, Césaire Assah (contributor); … - 2008

Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major redistribution of wealth between households and the government, between nationals and foreigners, and between households within the same country. Two types of monetary policy,...

Persistent link: https://www.econbiz.de/10003773003

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