Showing 51 - 60 of 3,139
We estimate global inter-firm networks across all major industries from 1981 through 2016 and provide the first empirical tests for both robust (beneficial) and fragile (harmful) network behavior, relating firms' health with global integration. More connected firms are less likely to be in...
Persistent link: https://www.econbiz.de/10014121009
Using a novel dataset on central bank interventions to financial institutions, we examine the impact of capital injection announcements on systemic risk for the banking sector in the U.S. and the euro area between 2008 and 2013. We propose a new measure of options-based systemic risk called...
Persistent link: https://www.econbiz.de/10014121074
In this paper I analyze how has the financial interdependence and contagion among LAC-6 countries and the United States changed in the last 15 years, and the transmission channels of these cross-market linkages. To do so, I use a two-stage approach in which I first estimate financial...
Persistent link: https://www.econbiz.de/10012998912
At the onset of the Global Financial Crisis in 2007-2008, majority of the analysts and policymakers have anticipated contagion from the markets volatility in the advanced economies (AEs) to the emerging markets (EMs). This chapter examines the volatility spillovers from the AEs' equity markets...
Persistent link: https://www.econbiz.de/10013001800
This paper revisits the relationship between liberalization and systemic banking crisis in light of a more comprehensive measure of financial liberalization and its interaction with various measures of banking governance and institutional quality. We estimate the probability of systemic banking...
Persistent link: https://www.econbiz.de/10013020963
The main contribution of this paper is to understand the impact of crisis on information transmission between ADRs and their underlying stocks which has significant implications for asset pricing and asset allocation and investment decisions. Data have been divided in three sub-periods those are...
Persistent link: https://www.econbiz.de/10013022354
This Article uses a rational choice analysis to simplify the increasingly complex area of international financial regulation. It proceeds by identifying four “interdependence problems” relating to harmonization of financial standards, capital requirements, bank resolution procedures, and an...
Persistent link: https://www.econbiz.de/10013029921
This paper revisits the relationship between liberalization and systemic banking crisis in light of a more comprehensive measure of financial liberalization and its interaction with various measures of banking governance and institutional quality. We estimate the probability of systemic banking...
Persistent link: https://www.econbiz.de/10013031576
Using a novel dataset on government interventions into financial institutions between 2008-2013, we examine the impact of capital injection announcements on the downside correlation risk premium (DCRP), the compensation that investors demand to bear the risk of large correlated drops in banks'...
Persistent link: https://www.econbiz.de/10013031686
This paper examines transmission of shocks between the U.S. and foreign markets to delineate interdependence from contagion of the U.S. financial crisis by constructing shock models for partially-overlapping and non-overlapping markets. There exists important bi-directional, yet asymmetric,...
Persistent link: https://www.econbiz.de/10013037982