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The COVID-19 shock and equity shortfall : firm-level evidence from Italy

Carletti, Elena; Oliviero, Tommaso; Pagano, Marco; … - 2020

We employ a representative sample of 80,972 Italian firms to forecast the drop in profits and the equity shortfall triggered by the COVID-19 lockdown. A 3-month lockdown generates an aggregate yearly drop in profits of about 10% of GDP, and 17% of sample firms, which employ 8.8% of the sample's...

Persistent link: https://www.econbiz.de/10012259870

Public debt and state-dependent effects of fiscal policy in the Euro area

Eminidou, Snezana; Geiger, Martin; Zachariadis, Marios - 2021

Persistent link: https://www.econbiz.de/10014336442

Weakness of investment in Portugal : what role do credit supply and fiscal consolidation shocks play?

Maurin, Laurent - In: Portuguese economic journal 18 (2019) 1, pp. 19-45

Persistent link: https://www.econbiz.de/10012111354

Public debt and state-dependent effects of fiscal policy in the euro area

Eminidou, Snezana; Geiger, Martin; Zachariadis, Marios - In: Journal of international money and finance 130 (2023), pp. 1-21

Persistent link: https://www.econbiz.de/10014248768

Estimating General Equilibrium Spillovers of Large-Scale Shocks

Huber, Kilian - 2021

functional forms can overcome different sources of bias. The analysis is particularly relevant to the estimation of spillovers …

Persistent link: https://www.econbiz.de/10013239052

Geographic Diffusion of COVID-19 Economic Shocks : An Examination of Bank Transmission Effects

Kara, Gazi; Swem, Nathan; Urry, Steven; Zer, Ilknur - 2021

We present evidence that multi-market banks transmitted economic shocks relating to the COVID-19 crisis among the geographic areas where the banks operate. We find that banks transmission effects were about half as economically significant as the direct effect of the shocks. We also find that...

Persistent link: https://www.econbiz.de/10013213961

Büttner, David; Hayo, Bernd - 2008

We analyse the impact of news on five financial markets in the Czech Republic, Hungary and Poland using a newly constructed data set in a GARCH framework. Macroeconomic shocks (on GDP, inflation rate, current account and trade balance) are constructed as deviations from expected values....

Persistent link: https://www.econbiz.de/10003865756

The impact of foreign macroeconomic news on financial markets in the Czech Republic, Hungary, and Poland

Büttner, David; Hayo, Bernd; Neuenkirch, Matthias - 2009

In this paper, we study the effects of euro area and US macroeconomic news on financial markets in the Czech Republic, Hungary, and Poland (CEEC-3) from 1999 to 2006. Using a GARCH model, we examine the impact on daily returns of three-month interest rates, stock market indices, exchange rates...

Persistent link: https://www.econbiz.de/10003849424

Oil Price Shocks and Stock Market Returns : Evidence from Oil-Importing and Oil-Exporting Countries

Yang, Li - 2012

While the relationship between oil prices and stock markets is of great interest to economists, previous studies do not differentiate oil-exporting countries from oil-importing countries when they investigate the effects of oil price shocks on stock market returns. In this paper, we address this...

Persistent link: https://www.econbiz.de/10013096494

Monetary policy uncertainty and the response of the yield curve to policy shocks

Tillmann, Peter - 2017

leads to a significantly smaller increase in long-term bond yields if policy uncertainty is high at the time of the shock … are robust to the measurement of monetary policy uncertainty and the definition of the monetary policy shock. We argue … policy uncertainty leads to opposite effects with term premia increasing even more after a policy shock. …

Persistent link: https://www.econbiz.de/10011661992

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