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Global financial cycles since 1880
Potjagailo, Galina; Wolters, Maik H. - 2019
We analyze cyclical co-movement in credit, house prices, equity prices, and long-term interest rates across 17 advanced economies. Using a time-varying multi-level dynamic factor model and more than 130 years of data, we analyze the dynamics of co-movement at different levels of aggregation and...
Persistent link: https://www.econbiz.de/10011987786
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Nonbank lenders as global shock absorbers : evidence from US Monetary Policy spillovers
Elliott, David; Meisenzahl, Ralf R.; Peydró, José-Luis - 2023
We show that nonbank lenders act as global shock absorbers from US monetary policy spillovers. We exploit loan-level data from the global syndicated lending market and US monetary policy surprises. When US policy tightens, nonbanks increase dollar credit supply to non-US firms (relative to...
Persistent link: https://www.econbiz.de/10014335622
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Beyond International Standards : Mapping the Future of Capital Markets Regulation
Jordan, Cally - 2018
As a response to multiple financial shocks, international standards have disappointed. Consensus-seeking has stifled innovation, perpetuating outdated regulatory concepts at a time of rapid market change. Different forces are at work now. Markets are complex and idiosyncratic; they may not be...
Persistent link: https://www.econbiz.de/10012910271
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Measuring global financial market stresses
Groen, Jan J. J.; Nattinger, Michael B.; Noble, Adam I. - 2020
We propose measures of financial market stress for forty-six countries and regions across the world. Our measures … wake of the COVID-19 pandemic. However, hardly anywhere in the world did these March peaks in financial stresses reach those … for the near-term economic outlook across most parts of the world, with the exception of China. A structural Bayesian VAR …
Persistent link: https://www.econbiz.de/10012268021
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Bank foreign currency funding and currency markets : the case of Mexico post GFC
Bush, Georgia - 2019
This paper examines the impact of foreign currency hedging demand on the foreign exchange market. First, the paper documents deviations from covered interest parity (CIP) for Mexico after the global financial crisis (GFC), and then it evaluates the effect of two variables in a regression-based...
Persistent link: https://www.econbiz.de/10012166177
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Spillovers of US unconventional monetary policy : quantitative easing, spreads, and international financial markets
Yildirim, Zekeriya; Ivrendi, Mehmet - In: Financial innovation : FIN 7 (2021), pp. 1-38
policies to the rest of the world. The extent of these effects depends on the type of QE measures. QE measures such as …
Persistent link: https://www.econbiz.de/10012798677
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Financial Stress and Economic Dynamics : The Transmission of Crises
Hubrich, Kirstin - 2013
The recent financial crisis and the associated decline in economic activity have raised some important questions about economic activity and its links to the financial sector. This paper introduces an index of financial stress -- an index that was used in real time by the staff of the Federal...
Persistent link: https://www.econbiz.de/10013088710
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International spillovers in global asset markets
Belke, Ansgar; Dubova, Irina - 2017
international bond and equity markets are highly connected both within and across asset classes in a globalized world, where the … und über verschiedene Assetklassen hinweg in einer globalisierten Welt hochgradig miteinander verflochten sind. Der …
Persistent link: https://www.econbiz.de/10011657650
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International spillovers in global asset markets
Belke, Ansgar; Dubova, Irina - 2017
international bond and equity markets are highly connected both within and across asset classes in a globalized world, where the …
Persistent link: https://www.econbiz.de/10011691587
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EME financial conditions : which global shocks matter?
Lodge, David; Manu, Ana-Simona - 2019
This paper provides a quantitative assessment of the relative importance of global structural shocks for changes in financial conditions across a sample of emerging market economies. We disentangle four key drivers of global financial markets (oil supply shocks, global economic news shocks,...
Persistent link: https://www.econbiz.de/10012009181