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Economic Stability and Economic Governance in the Euro Area : What the European Crisis Can Teach on the Limits of Economic Integration
Lupo-Pasini, Federico - 2013
responses. If EU Member states wish to maintain and deepen economic integration, they must accept an erosion of sovereignty over …
Persistent link: https://www.econbiz.de/10013085690
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'Fool Me Once...' Did U.S. Investors Play It Safer in the European Debt Crisis?
Bertaut, Carol C. - 2013
This paper examines U.S. investors' portfolio investment patterns since the global financial crisis, particularly since the European debt crisis that began in late 2009. The global financial crisis during 2007-2009 was accompanied by an increase in U.S. investors' home bias. U.S. investors...
Persistent link: https://www.econbiz.de/10013072077
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The Alternative Investment Fund Managers Directive and Hedge Funds’ Systemic Risk Regulation in the EU
Nabilou, Hossein - 2013
Persistent link: https://www.econbiz.de/10013073172
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Legal Risk Premia During the Euro-Crisis : The Role of Credit and Redenomination Risk
Nordvig, Jens - 2016
Using several new datasets, I document the role of legal risk premia in bond yields during the Euro-crisis. I find evidence of a rising premium especially in late 2011 and mid-2012 on bonds with foreign governing law relative to those with local governing law (and otherwise similar...
Persistent link: https://www.econbiz.de/10013004703
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A Tale of Regulatory Divergence : Contrasting Transatlantic Policy Responses to the Alleged Role of Alternative Investment Funds in Financial Instability
Nabilou, Hossein - 2020
instability in the U.S. and the EU in the wake of the Global Financial Crisis. The relevant provisions of the Dodd-Frank Act … concerned with creating a single market for Alternative Investment Funds, EU regulators prioritized the EU passport mechanism … embedded in the provisions of the Volcker Rule; a rule whose absence is significantly palpable in the EU regime for regulating …
Persistent link: https://www.econbiz.de/10012855060
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Volatility spillovers of Federal Reserve and ECB balance sheet expansions to emerging market economies
Apostolou, Apostolos; Beirne, John - 2017
This paper examines volatility spillovers from changes in the size of the balance sheets of the Federal Reserve (FED) and European Central Bank (ECB) to emerging market economies (EMEs) from 2003 to 2014. We find that EME bond markets are most susceptible to positive volatility spillovers from...
Persistent link: https://www.econbiz.de/10011636172
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Do markets cointegrate after financial crisis? : evidence from G-20 stock markets
Haque, Mahfuzul; Shamsub, Hannarong - In: International Journal of Financial Studies : open … 3 (2015) 4, pp. 557-586
The results of the single-equation cointegration tests indicate that patterns of cointegration in the two main and four …&P 500 and G-20 stock indices moved towards less cointegration. The decreasing number of cointegrating relationships implies …
Persistent link: https://www.econbiz.de/10011408937
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The credit risk premium in a disaster-prone world
Zhu, Yanhui (contributor); Copeland, Laurence S. (contributor) - 2008
The seminal Barro (2006) closed-economy model of the equity risk premium in the presence of extreme events ("disasters") allowed for leverage in the form of risky corporate debt which defaulted only in states when the Government defaulted on its debt. The probability of default was therefore...
Persistent link: https://www.econbiz.de/10003739622
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Better to give than to receive : predictive directional measurement of volatility spillovers
Diebold, Francis X.; Yılmaz, Kamil - 2010 - rev.
Using a generalized vector autoregressive framework in which forecast-error variance decompositions are invariant to variable ordering, we propose measures of both total and directional volatility spillovers. We use our methods to characterize daily volatility spillovers across U.S. stock, bond,...
Persistent link: https://www.econbiz.de/10008669987
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Three futures for postcrisis banking in the Americas : the financial trilemma and the Wall Street complex
Dymski, Gary Arthur - 2010
This would seem an opportune moment to reshape banking systems in the Americas. But any effort to rethink and improve banking must acknowledge three major barriers. The first is a crisis of vision: there has been too little consideration of what kind of banking system would work best for...
Persistent link: https://www.econbiz.de/10003996775