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This paper defines risk-on risk-off (RORO), an elusive terminology in pervasive use, as the variation in global investor risk aversion. Our high-frequency RORO index captures time-varying investor risk appetite across multiple dimensions: advanced economy credit risk, equity market volatility,...
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economics to build a Törnqvist inflation index for Japan between 1989 and 2010. Our comparison of this true inflation index with …Official price indexes, such as the CPI, are imperfect indicators of inflation calculated using ad hoc price formulae … different from the theoretically well-founded inflation indexes favored by economists. This paper provides the first estimate of …
Persistent link: https://www.econbiz.de/10013074909
economics to build a Törnqvist inflation index for Japan between 1989 and 2010. Our comparison of this true inflation index with …Official price indexes, such as the CPI, are imperfect indicators of inflation calculated using ad hoc price formulae … different from the theoretically well-founded inflation indexes favored by economists. This paper provides the first estimate of …
Persistent link: https://www.econbiz.de/10012459159
economics to build a Törnqvist inflation index for Japan between 1989 and 2010. Our comparison of this true inflation index with …Official price indexes, such as the CPI, are imperfect indicators of inflation calculated using ad hoc price formulae … different from the theoretically well-founded inflation indexes favored by economists. This paper provides the first estimate of …
Persistent link: https://www.econbiz.de/10014035499
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In the debate on the benefits of international financial integration, recent literature has emphasized the development of domestic markets as a precondition. This paper offers an alternative view. Lack of competition in domestic financial systems may prevent countries from reaping the benefits...
Persistent link: https://www.econbiz.de/10011373507