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increased threats of war prior to the World War II outbreak. This would explain, and possibly excuse, why their governments did … Nordic World War II historiography, they also demonstrate the value of analyzing historical market prices to reassess the … widely held war threat assessments from the fluctuations of sovereign market yields collected from all Nordic bond markets at …
Persistent link: https://www.econbiz.de/10010320043
Persistent link: https://www.econbiz.de/10014000471
European monetary integration was one element in the process of financial market integration but by far not the only one. The paper traces the development of financial markets and systems in Europe from the beginnings of the euromarkets in the 1950s over early exchange rate arrangements and the...
Persistent link: https://www.econbiz.de/10010295472
Bankenkrisen gefährdet ist. Das war nicht anders in den Bankenkri-sen der National Banking-Ära der USA. Fraglich ist, ob mit der …-Ära gegeben wurde. Der Aufsatz kommt einerseits zum Schluß, daß das Federal Reserve System in der Lage war, die strukturellen …
Persistent link: https://www.econbiz.de/10010300264
This paper studies Anglo-Dutch premium auctions used in the secondary market for financial securities in eighteenth-century Amsterdam, Europe's financial capital at the time. An Anglo-Dutch premium auction consists of an English auction followed by a Dutch auction, with a cash premium paid to...
Persistent link: https://www.econbiz.de/10010308145
Financial markets (share markets, foreign exchange markets and others) are all characterized by a number of universal power laws. The most prominent example is the ubiquitous finding of a robust, approximately cubic power law characterizing the distribution of large returns. A similarly robust...
Persistent link: https://www.econbiz.de/10010295170
We provide a simple and intuitive measure of interdependence of asset returns and/or volatilities. In particular, we formulate and examine precise and separate measures of return spillovers and volatility spillovers. Our framework facilitates study of both non-crisis and crisis episodes,...
Persistent link: https://www.econbiz.de/10010298351
The author suggests the 2008 financial crisis was the culmination of an accelerating process of financial market evolution that is inherently unstable. From his viewpoint markets are not well organized to manage the power financial assets have to generate emotion and their wider effect on human...
Persistent link: https://www.econbiz.de/10010298825
The author suggests that the 2008 financial crisis was the culmination of an accelerating and inherently unstable process of financial market evolution. He argues that markets are not well organized to manage the power that financial assets have to generate emotion and their wider effect on...
Persistent link: https://www.econbiz.de/10010299495
This paper studies the nature of spillover effects in bank lending flows from advanced to the emerging market economies and identifies specific channels through which such effects occur. Based on a gravity model we examine a panel data set on cross-border bank flows from 17 advanced to 28...
Persistent link: https://www.econbiz.de/10010301350