This working paper was written by Paul D. McNelis (Fordham University).This paper assesses sources of contagion emanating from both within the Hong Kong banking sector as well as from external sources. For robustness, the paper uses alternative measures of contagion, one based on Forecast Error...

We assess whether two classes of bubbles occur in the spot price of gold, rational speculative and periodically bursting bubbles, using gold's' lease rates for the first time in the literature as a measures of its fundamental value. This question is of particular significance as these are the...

This study examines the decision by firm owners to apply, or not, for intermediated debt. Based on a sample of SMEs in 9 European countries over the period 2009-2012, we examine firm characteristics, institutional and cultural factors. We focus our analyses on two distinct groups of firms, those...