Similar Search Results

Consumption risk sharing over the business cycle : the role of small firms' access to credit markets

Hoffmann, Mathias; Stewen, Iryna - 2009

Consumption risk sharing among U.S. federal states increases in booms and decreases in recessions. We find that small … aggregate risk sharing are more pronounced in states in which small firms account for a large share income or employment. In … to have loosened the dependence of aggregate risk sharing on the business cycle. Not only do our result support that …

Persistent link: https://www.econbiz.de/10003807913

Organizational complexity and balance sheet management in global banks

Cetorelli, Nicola; Goldberg, Linda S. - 2016

Banks have progressively evolved from being standalone institutions to being subsidiaries of increasingly complex financial conglomerates. We conjecture and provide evidence that the organizational complexity of the family of a bank is a fundamental driver of the business model of the bank...

Persistent link: https://www.econbiz.de/10011538002

Organizational complexity and balance sheet management in global banks

Cetorelli, Nicola; Goldberg, Linda S. - 2016

Persistent link: https://www.econbiz.de/10011446535

Estimating capital flows to emerging market economies with heterogeneous panels

Hernández, Marco A. - 2015

Current data provide macroeconomic information for a large number of countries and for a long period of time (macro panels). This causes that in these panels slope heterogeneity and crosssection dependence (CSD) are a rule rather than the exception, leading to fixed effects slope estimators to...

Persistent link: https://www.econbiz.de/10010486876

Asymmetric Predictive Abilities of Nonlinear Models for Stock Returns : Evidence from Density Forecast Comparison

Bao, Yong - 2016

We investigate predictive abilities of nonlinear models for stock returns when density forecasts are evaluated and compared instead of the conditional mean point forecasts. The aim of this paper is to show whether the in-sample evidence of strong nonlinearity in mean may be exploited for...

Persistent link: https://www.econbiz.de/10012998081

New Evidence on Debt as an Obstacle for US Economic Growth

Grennes, Thomas J. - 2019

The US government debt is now in uncharted waters. From the founding of the nation until 1968, government debt moved up and down without a trend, but over the past 50 years, debt relative to the size of the economy has increased continuously. The United States does not appear to have a coherent...

Persistent link: https://www.econbiz.de/10012889022

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 sub-periods are not homogeneous. Two key findings emerge from the study. First, fewer stock markets cointegrated with S&P 500 during the crisis period than they did during the...

Persistent link: https://www.econbiz.de/10011408937

A New Testable Theory on Deviations from Covered Interest Rate Parity

Babatunde Salako, Abdul-Muttolib - 2022

Suppose a rational agent can invest in domestic bonds (Euro (EUR) corporates) and foreign bonds (Dollar (USD) corporates) hedged into EUR using cross-currency swaps. Let xccy represent the cross-currency basis spread of the FX hedging, where xccy measures deviations from covered interest parity...

Persistent link: https://www.econbiz.de/10013403972

International capital market frictions and spillovers from quantitative easing

MacDonald, Margaux - 2015

This paper analyzes the impact of large-scale, unconventional asset purchases by advanced country central banks on emerging market economies (EMEs) during 2008–2014. I show that there was substantial heterogeneity in the way EME currency, equity, and long-term sovereign bond markets were...

Persistent link: https://www.econbiz.de/10011300668

Integration of Sovereign Bonds Markets : Time Variation and Maturity Effects

Chaieb, Ines - 2014

We examine time varying integration of developed (DM) and emerging (EM) market government bonds. Although we find an upward trend for most countries and maturity bands, we do observe reversals and negative trends among both DMs and EMs and for some maturities during the financial crisis. We...

Persistent link: https://www.econbiz.de/10013050934