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Spillovers and euroscepticism
Ioannou, Demosthenes; Jamet, Jean-François; Kleibl, … - 2015
Persistent link: https://www.econbiz.de/10011288637
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Contagion, spillover and interdependence
Rigobón, Roberto - 2016
Persistent link: https://www.econbiz.de/10011619848
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International spillovers in inflation expectations
Ciccarelli, Matteo; Garcia, Juan Angel - 2015
Persistent link: https://www.econbiz.de/10011349799
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International R&D spillovers : technology transfer vs. R&D synergies
Dieppe, Alistair; Mutl, Jan - 2013
Persistent link: https://www.econbiz.de/10009765578
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Systemic risk-taking : amplification effects, externalities, and regulatory responses
Korinek, Anton - 2011
because of pecuniary externalities that are triggered during financial amplification. The paper develops an externality … pricing kernel that quantifies the state-contingent magnitude of such externalities and provides welfaretheoretic foundations … amplification ; systemic risk ; systemic externalities ; externality pricing kernel ; macroprudential regulation ; bailout …
Persistent link: https://www.econbiz.de/10009160024
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Leveraged property cycles
Jaccard, Ivan - 2021
This paper studies the effects of imperfect risk-sharing between lenders and borrowers on commercial property prices and leverage. The key friction is that agents use different discount rates to evaluate future flows. Eliminating this pecuniary externality generates large reductions in the...
Persistent link: https://www.econbiz.de/10012503550
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Variation margins, fire sales, and information-constrained optimality
Biais, Bruno; Heider, Florian; Hoerova, Marie - 2018
Protection buyers use derivatives to share risk with protection sellers, whose assets are only imperfectly pledgeable because of moral hazard. To mitigate moral hazard, privately optimal derivative contracts involve variation margins. When margins are called, protection sellers must liquidate...
Persistent link: https://www.econbiz.de/10011921489
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International medium-term business cycles
Hirschbühl, Dominik; Spitzer, Martin - 2021
Foreign driven medium-term oscillations that originate from uctuations in technological frontier countries gained widespread attention among policymakers. To study this phenomenon in the context of domestic and other foreign drivers of the euro area business cycle, we develop a medium-scale,...
Persistent link: https://www.econbiz.de/10012499631
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Who bears interest rate risk?
Hoffmann, Peter; Langfield, Sam; Pierobon, Federico; … - 2018
We study the allocation of interest rate risk within the European banking sector using novel data. Banks' exposure to interest rate risk is small on aggregate, but heterogeneous in the cross-section. In contrast to conventional wisdom, net worth is increasing in interest rates for approximately...
Persistent link: https://www.econbiz.de/10011901434
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To bi, or not to bi? : differences in spillover estimates from bilateral and multilateral multi-country models
Georgiadis, Georgios - 2015
Persistent link: https://www.econbiz.de/10011448497