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Bond market "conundrum" : new factors to explain long-term interest rates ?

Topeglo, Kokou; Brière, Marie; Signori, Ombretta - Université Paris-Dauphine (Paris IX) - 2008

Interest rates behaved highly atypically from 2004 to 2006. While the US central bank raised its policy rate at every meeting, long-term interest rates remained so remarkably stable that former Fed Chairman Alan Greenspan described their behaviour as a "conundrum". Comparing long-term rates to...

Persistent link: https://www.econbiz.de/10010707901

The Impact of Sovereign Credit Signals on Bank Share Prices during the European Sovereign Debt Crisis

Williams, Gwion; Alsakka, Rasha; ap Gwilym, Owain - Bangor Business School, Bangor University - 2013

The ongoing financial crisis has drawn attention to the role of credit rating agencies (CRAs). We investigate the relative impacts of sovereign actions by different CRAs on the share prices of major European banks during the financial crisis. We examine how bank abnormal returns are affected by...

Persistent link: https://www.econbiz.de/10010711125

GLOBALIZATION AND PERFORMANCES IN BANKING ACTIVITY

Spulbar, Assoc. Prof. Ph.D Cristi Marcel; Gherghinescu, … - In: Revista Tinerilor Economisti (The Young Economists Journal) 1 (2009) 12, pp. 50-60

Each area is influenced by globalization and the financial markets are not only an exception but these can be considered a real engine of the globalization. It is obvious that we can’t talk only about a national market but of a financial market which works at a global level. The present events...

Persistent link: https://www.econbiz.de/10004979991

Corporate Financing Choices after the 2007-2008 Financial Crisis

Pinto, João; Santos, Mário Coutinho dos - Faculdade de Economia e Gestão, Universidade Católica … - 2014

We study the factors that, arguably, affect the probability of a new borrower choosing between structured finance (SF), either project finance (PF) loans or asset securitization (AS) bonds, and straight debt finance (SDF) – corporate bonds (CB) – transactions using a large cross section of...

Persistent link: https://www.econbiz.de/10010764235

Liquidity, leverage, and Lehman: A structural analysis of financial institutions in crisis

Chen, Ren-Raw; Chidambaran, N.K.; Imerman, Michael B.; … - In: Journal of Banking & Finance 45 (2014) C, pp. 117-139

This paper presents a flexible, lattice-based structural credit risk model that uses equity market information and a detailed depiction of a financial institution’s liability structure to analyze default risk. The model is applied to examine the term structure of default probabilities for...

Persistent link: https://www.econbiz.de/10010943179

LIBOR: origins, economics, crisis, scandal and reform

Skeie, David Hou David - Palgrave Macmillan

trillions more in variable rate mortgage and student loans. LIBOR's erratic behaviour during the financial crisis fuelled market …

Persistent link: https://www.econbiz.de/10010861107

What determines bank stock price synchronicity? Global evidence

Francis, Bill; Hasan, Iftekhar; Song, Liang; Yeung, Bernard - Suomen Pankki - 2012

This paper examines what institutional and bank-specific factors determine bank stock price synchronicity. Using data on 37 countries from 1996–2007, we find that bank stocks are more aligned with the whole market (1) during the financial crisis; (2) in countries that have more credit provided...

Persistent link: https://www.econbiz.de/10010945107

Stages of the Ongoing Global Financial Crisis: Is There a Wandering Asset-Price Bubble?

Orlowski, Lucjan T. - CASE-Center for Social and Economic Research - 2008

mortgage market, spillovers into broader credit market, the liquidity crisis epitomized by the fallout of Northern Rock, Bear … elevated market, credit and liquidity risks. Since its original outbreak induced by the demise of the subprime mortgage market … and the mortgage-backed securities in the U.S., the crisis has reverberated across other credit areas, structured …

Persistent link: https://www.econbiz.de/10008633016

Stages of the Ongoing Global Financial Crisis: Is There a Wandering Asset Bubble?

Orlowski, Lucjan T. - Institut für Wirtschaftsforschung Halle (IWH) - 2008

demise of the subprime mortgage market and the mortgage-backed securities in the U.S., this crisis has reverberated across … are identified: the meltdown of the subprime mortgage market, spillovers into broader credit market, the liquidity crisis …

Persistent link: https://www.econbiz.de/10005426817

Stages of the 2007/2008 Global Financial Crisis Is There a Wandering Asset-Price Bubble?

Orlowski, Lucjan T. - Institut für Weltwirtschaft (IfW) - 2008

mortgage market; spillovers into broader credit market; the liquidity crisis epitomized by the fallout of Northern Rock, Bear …

Persistent link: https://www.econbiz.de/10005083415

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