The general topic of the paper is the use of the crowd to interpret text, and the power of that interpretation to predict future events. This topic is addressed through an experiment, in which news sentiment is evaluated by crowds and experts in different configurations. Their classifications...

This paper explores the impact of the large stock prices increases (positive shocks) and decreases (negative shocks) from the New York Stock Exchange on the returns and volatility of some European developed capital markets. We found that more than a half of shocks from these European stock...

The 2008 global financial crisis highlights the importance of securitization and crash risk. Yet there is a dearth of papers exploring the link between securitization and crash risk. We analyze 7,096 securitization deals made by large European listed banks between 2000 and 2017. Our paper...

This paper estimates the factors underlying the volatility of the euro overnight interest rate and its transmission along the euro area money market yield curve. A new multivariate unobserved components model is proposed allowing for both long-memory and stationary cyclical dynamics. Using...

The global impact of the COVID-19 pandemic has been staggering, with over 4.3 million confirmed cases and over 290,000 deaths reported worldwide. In addition to the public health crisis, the pandemic has caused significant economic disruption, leading to fears of a global recession. The...

Prices of many consumables differ substantially across the European Union(EU) due to natural segmentation and to the survival of residual man-made barriers. However, we do not know much about the direction and the cause of deviations among countries diamp;#64256;ering mainly in size and income of...

This paper analyses the international transmission of monetary policy in a case where all export prices are set in US dollars. 'Dollar pricing' implies that the international effects of US monetary shocks are different to those of European shocks because of asymmetric exchange rate pass-through...