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Economic literacy : an international comparison

Jappelli, Tullio - 2010

Many studies show that most people are not financially literate and are unfamiliar with even the most basic economic concepts. However, the evidence on the determinants of economic literacy is scant. This paper uses international panel data on 55 countries from 1995 to 2008, merging indicators...

Persistent link: https://www.econbiz.de/10008698004

Financial Literacy : An International Comparison

Jappelli, Tullio - 2010

This paper uses international panel data on 55 countries from 1995 to 2008, merging indicators of financial literacy with a large set of macroeconomic and institutional variables. Results show that there is substantial heterogeneity of financial and economic competence across countries, and that...

Persistent link: https://www.econbiz.de/10013135619

Stock-Bond Correlation and Out-of-Sample Portfolio Performance Using Analyst Forecasts

Jivraj, Farouk - 2017

In this paper I examine whether one can use analyst forecasts of macroeconomic variables to improve investors ex-ante allocation of wealth between stocks and bonds. Such forecasts provide a forward-looking approach which I find improves investor's information set for the myopic stock-bond...

Persistent link: https://www.econbiz.de/10012975364

Towards a New Geopolitics of Finance

Verlaine, Michel - 2021

The aim of this paper is to make the case for a new emerging sub-field at the crossroads of Financial Economics and Geo-economics. The underlying thread is that with the development of financial markets and globalization, standard geopolitical and macroeconomic tools will become less and less...

Persistent link: https://www.econbiz.de/10014361534

Risk taking, limited liability and the competition of bank regulators

Sinn, Hans-Werner - 2001

Limited liability and asymmetric information between an investment bank and its lenders provide an incentive for a bank to undercapitalise and finance overly risky business projects. To counter this market failure, national governments have imposed solvency constraints on banks. However, these...

Persistent link: https://www.econbiz.de/10011400902

Asymmetric Information and the Foreign-Exchange Trades of Global Custody Banks

Osler, Carol L. - 2015

This paper examines how asymmetric information influences foreign-exchange trading between global custody banks and their client funds. The clients can negotiate prices with the custody bank dealers or simply instruct their representative at the custodian to carry out the trade. With...

Persistent link: https://www.econbiz.de/10013038162

Regional and Global Liquidity Arrangements

Volz, Ulrich - 2012

Regional and bilateral liquidity arrangements have gained increasing prominence over the past decades, not least during … contributions in this publication address a wide range of topics dealing with regional and global liquidity arrangements, including …

Persistent link: https://www.econbiz.de/10013101487

Financial Stability in Emerging Markets – Dealing with Global Liquidity

Volz, Ulrich - 2012

The rapid increase in global liquidity and the large-scale net capital flows to emerging countries have raised serious … currency crisis. There have also been concerns about the inflationary consequences of excessive global liquidity for commodity … monetary policies in advanced countries on emerging economies, and the risks that excessive global liquidity and abundant …

Persistent link: https://www.econbiz.de/10013107581

Liquidity, Resiliency and Market Quality Around Predictable Trades : Theory and Evidence

Bessembinder, Hendrik - 2015

trades' temporary price impacts are quickly reversed. We provide related empirical evidence by studying prices, liquidity … resiliency on roll dates. We find that a larger number of individual trading accounts provide liquidity on roll dates, and do not … traders choose to provide liquidity to predictable trades in resilient markets. However, the large volume of trading …

Persistent link: https://www.econbiz.de/10013037053

Sovereign vs. corporate debt and default : more similar than you think

Gopinath, Gita; Meyer, Josefin; Reinhart, Carmen M.; … - 2024 - This draft: March 2024

Theory suggests that corporate and sovereign bonds are fundamentally different, also because sovereign debt has no bankruptcy mechanism and is hard to enforce. We show empirically that the two assets are more similar than you think, at least when it comes to high-yield bonds over the past 20...

Persistent link: https://www.econbiz.de/10015051493

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