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"This Time is Different"?
Schäfer, Dorothea - In: Vierteljahrshefte zur Wirtschaftsforschung 90 (2021) 2, pp. 9-30
Jahrhunderts, Dotcom-Krise, Finanzkrise und Coronakrise, reagiert hat. Grundlage dazu ist ein Paneldatensatz mit den Bankengruppen … Bankengruppen in Coronakrise und Finanzkrise. Unsere Befunde zeigen, dass der Spruch "This time is different" für das deutsche … Finanzkrise die Kreditquote zwar signifikant abgesenkt, diese aber in der Coronakrise signifikant erhöht haben. Der Vergleich der …
Persistent link: https://www.econbiz.de/10014001300
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Labor markets and modern economic cycles: The growing role of the sixth Schumpeter-Kontratiev wave
Runiewicz-Wardyn, Ma±gorzata; Rutkowski, Jakub; … - 2024
Persistent link: https://www.econbiz.de/10014581236
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Shifting into digital services: Does a crisis matter and for who?
van der Marel, Erik - 2020
How do trade patterns change after an external shock such as an economic crisis, and is this shift structural? This paper uses a Difference-in-Difference (DID) approach to investigate whether services trade became more digital after the Global Financial Crisis (GFC) in 2008. It finds that the...
Persistent link: https://www.econbiz.de/10014327353
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Where next for monetary policy? Lessons from the financial crisis and the pandemic
Minford, Patrick - 2023
Monetary developments of recent decades began with much promise with inflation targeting by independent central banks; the financial crisis of 2007 ushered in a period of great monetary instability. There are lessons for a return to more stability. Central banks need to stabilize money supply...
Persistent link: https://www.econbiz.de/10014480560
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Stock market comovements in Central Europe: Evidence from asymmetric DCC model
Gjika, Dritan; Horváth, Roman - 2012
We examine time-varying stock market comovements in Central Europe employing the asymmetric dynamic conditional correlation multivariate GARCH model. Using daily data from 2001 to 2011, we find that the correlations among stock markets in Central Europe and between Central Europe vis-a-vis the...
Persistent link: https://www.econbiz.de/10010318421
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Do Japanese stock prices reflect macro fundamentals?
Chen, Wenjuan; Velinov, Anton - 2012
This paper investigates to what extent the fundamentals of the real economy are reflected in the stock prices of Japan. A Markov switching VAR model with switching variances is used to test the structural identification scheme. Identification of fundamental and nonfundamental shocks is shown to...
Persistent link: https://www.econbiz.de/10010318743
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Can we make money with fifth-order autocorrelation in Japanese stock prices?
Tsutsui, Yoshiro; Hirayama, Kenjiro; Tanaka, Takahiro; … - 2005
We first report that one-minute returns on TOPIX have exhibited significant autocorrelation at five-minute intervals since 1997/98, which implies there is an arbitrage opportunity. Special quotes that are issued whenever there is a price jump in excess of a predetermined band seem to be the...
Persistent link: https://www.econbiz.de/10010332467
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Market efficiency and international linkage of stock prices: An analysis with high-frequency data
Tsutsui, Yoshiro; Hirayama, Kenjiro - 2004
This paper uses one-minute returns on the TOPIX and S&P500 to examine the efficiency of the Tokyo and New York Stock Exchanges. Our major finding is that Tokyo completes reactions to New York within six minutes, but New York reacts within fourteen minutes. Dividing the sample period into three...
Persistent link: https://www.econbiz.de/10010332406
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The bank lending channel of monetary policy transmission in Vietnam: Impacts of the COVID-19 pandemic and the financial crisis
Loi, Minh Thanh; Dang, Van Dan - In: Cogent Business & Management 10 (2023) 1, pp. 1-20
This paper aims to analyze changes in the transmission of monetary policy via bank lending when considering the impact of the COVID-19 pandemic and the financial crisis. Using bank-level data of 31 commercial banks in Vietnam from 2007 to 2021, we provide consistent evidence that the impact of...
Persistent link: https://www.econbiz.de/10014527670
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Is the market held by institutional investors? The disposition effect revisited
Croonenbroeck, Carsten; Matkovskyy, Roman - 2013
Czarnitzki and Stadtmann (2005) measure the interdependence of demand for investment advice (approximated by sales of investor magazines) and stock prices. They find strong evidence that confirms the presence of the disposition effect, i.e. the empirical observation that investors sell winners...
Persistent link: https://www.econbiz.de/10010319168