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With the overarching objective of reducing systemic risk, EMIR introduces the obligation to clear certain classes of …
Persistent link: https://www.econbiz.de/10010392275
With the overarching objective of reducing systemic risk, EMIR introduces the obligation to clear certain classes of …
Persistent link: https://www.econbiz.de/10010392276
Persistent link: https://www.econbiz.de/10011287830
With very low unemployment, a large and stable current account surplus, low government debt and a budget in surplus, the Dutch economy was assessed initially to be relatively well prepared to weather the financial and economic crisis. In 2008, however, the negative effects of the financial...
Persistent link: https://www.econbiz.de/10009641070
We study sovereign yield dynamics and order flow in the largest euro-area treasury markets. We exploit unique transaction data to explain daily yield changes in the ten-year government bonds of Italy, France, Belgium, and Germany. We use a state space model to decompose these changes into (i) a...
Persistent link: https://www.econbiz.de/10009639439
filtering estimates of the risk premium of eleven forward exchange rates of European and non-European currencies. Since all … status should be reflected in the participating currencies' risk premiums prior to monetary union implementation. Starting … co-movements of risk premiums among the preceding European Monetary System (EMS) currencies differ across time periods …
Persistent link: https://www.econbiz.de/10009639925
From the onset of the 2007-2009 crisis, the Federal Reserve and the European Central Bank have aggressively lowered interest rates. Both sets of changes are at odds with an anti-inflationary stance of monetary policy; indeed, as the crisis began in August 2007 inflation expectations were high...
Persistent link: https://www.econbiz.de/10009640318
This paper empirically models China’s stock prices using conventional fundamentals: corporate earnings, risk …-free interest rate, and a proxy for equity risk premium. It uses the estimated longrun stock price misalignments to date booms and …
Persistent link: https://www.econbiz.de/10009640350
Persistent link: https://www.econbiz.de/10009640492
This paper uses survey data for 29,000 households from 29 transition economies to explore how the use of banking services is related to household characteristics, bank ownership structure and the development of the financial infrastructure. At the household level we find that the holding of a...
Persistent link: https://www.econbiz.de/10009640628