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Schroth, Josef - 2012

This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the economy experiences a financial crisis. A pecuniary externality entails that banks' desire to accumulate capital over time...

Persistent link: https://www.econbiz.de/10009691196

Financial Crisis and Public Policy

Gokhale, Jagadeesh - 2009

This Policy Analysis explains the antecedents of the current global financial crisis and critically examines the reasoning behind the U.S. Treasury and Federal Reserve's actions to prop up the financial sector. It argues that recovery from the financial crisis is likely to be slow with or...

Persistent link: https://www.econbiz.de/10013156705

Frontiers of Macrofinancial Linkages

Claessens, Stijn - 2018

The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing our understanding of macrofinancial linkages, the two-way interactions between the real economy and the financial sector. The crisis was a bitter reminder of how sharp fluctuations in asset prices, credit and...

Persistent link: https://www.econbiz.de/10012929483

Volatility contagion between cryptocurrencies, gold and stock markets pre-and-during COVID-19 : evidence using DCC-GARCH and cascade-correlation network

Ibrahim, Bassam A.; Elamer, Ahmed A.; Alasker, Thamir H.; … - In: Financial innovation : FIN 10 (2024), pp. 1-28

The rapid rise of Bitcoin and its increasing global adoption has raised concerns about its impact on traditional markets, particularly in periods of economic turmoil and uncertainty such as the COVID-19 pandemic. This study examines the extent of the volatility contagion from the Bitcoin market...

Persistent link: https://www.econbiz.de/10014540621

Internal financial determinants of stock prices in the banking sector : comparative evidence from Dubai and Abu Dhabi Stock markets

Azmeh, Chadi; Hamada, Rasha - In: Revista de métodos cuantitativos para la economía y … 34 (2022), pp. 3-16

The present study has been conducted to examine the impact of seven of most important internal factors on stock prices for all listed banks in Dubai and Abu Dhabi stock markets. Pooled Least Square, Fixed Effects (FE), and Random Effects (RE) models have been used to carry out the analysis for...

Persistent link: https://www.econbiz.de/10013484926

Pricing climate transition risk : evidence from European corporate CDS

Vozian, Katia; Costola, Michele - 2023

The European low-carbon transition began in the last few decades and is accelerating to achieve net-zero emissions by 2050. This paper examines how climate-related transition indicators of a large European corporate firm relate to its CDS-implied credit risk across various time horizons....

Persistent link: https://www.econbiz.de/10014283743

Supporting the transition to net-zero emissions : the evolving role of central banks

McGuinness, Karen - 2023

While climate change was largely tackled by government policies in the past, central banks are increasingly grappling with the risks climate change poses. They are evaluating their operational policies to reflect these risks and the transition to a net-zero economy. This paper explores the...

Persistent link: https://www.econbiz.de/10014450598

Has COVID-19 changed the correlation between cryptocurrencies and stock markets?

Abdelkafi, Ines; Romdhane, Youssra Ben; Loukil, Sahar - In: European journal of government and economics : EJGE 12 (2023) 2, pp. 139-156

The COVID-19 pandemic has challenged the notion that cryptocurrencies are uncorrelated with traditional asset markets. This study uses VAR-OLS techniques to investigate the time-varying correlation between Bitcoin and three major European stock market indices from January 4, 2016, to February...

Persistent link: https://www.econbiz.de/10014445351

Central bank liquidity policy in modern times

Brooks, Skylar - 2024

Central banks play a crucial role in promoting financial stability. They act as financial system stabilizers through their capacity to create liquidity and channel it to financial institutions and markets in times of stress - a role that has evolved and expanded substantially over the past 15...

Persistent link: https://www.econbiz.de/10014577846

Risk and return in convertible arbitrage : evidence from the convertible bond market

Agarwal, Vikas; Fung, William H.; Loon, Yee Cheng; … - 2004

In this paper, we identify and document the empirical characteristics of the key drivers of convertible arbitrage as a … strategy and how they impact the performance of convertible arbitrage hedge funds. We show that the returns of a buy … CBs to the equity market. -- Hedge funds ; Convertible Bonds ; Convertible arbitrage ; Supply ; Risk Factors …

Persistent link: https://www.econbiz.de/10009524821

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