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In his Berkshire Hathaway annual newsletter to investors c.20 years ago, Warren Buffett while discussing the Long Term Capital Management LTCM and Enron collapses, famously called derivatives: "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially...
Persistent link: https://www.econbiz.de/10014238873
We study the implications of deviations from covered interest rate parity for international capital flows using novel data covering euro-area derivatives and securities holdings. Consistent with a dynamic model of currency risk hedging, we document that investors' holdings of USD bonds decrease...
Persistent link: https://www.econbiz.de/10015330343
We endogenize asset liquidity in a dynamic general equilibrium model with search frictions on asset markets. In the model, asset liquidity is tantamount to the ease of issuance and resaleability of private financial claims, which is driven by investors' participation on the search market....
Persistent link: https://www.econbiz.de/10011605962
Social infrastructure has endured a long period of neglect in most developed and emerging countries, with chronic underinvestment exposed by the coronavirus crisis 2020. The financial crisis 2007/08 led to a slow revival of economic infrastructure policies, and a growing involvement of...
Persistent link: https://www.econbiz.de/10012839240
This paper links the foreign economic engagement of India's states with the literature on federalism, thereby contributing to an understanding of the political economy of FDI inflows in a parliamentary federal system. More specifically, it studies subnational governments' international...
Persistent link: https://www.econbiz.de/10011748525
The investment procedure prescribes the stages and tests through which all investment projects must pass before being accepted or not. It governs the conditions of acceptability and constitutes a powerful device of a priori control. In this paper, we intend to understand how investment...
Persistent link: https://www.econbiz.de/10011072276
The investment procedure prescribes the stages and tests through which all investment projects must pass before being accepted or not. It governs the conditions of acceptability and constitutes a powerful device of a priori control. In this paper, we intend to understand how investment...
Persistent link: https://www.econbiz.de/10011072823
The investment procedure prescribes the stages and tests through which all investment projects must pass before being accepted or not. It governs the conditions of acceptability and constitutes a powerful device of a priori control. In this paper, we intend to understand how investment...
Persistent link: https://www.econbiz.de/10005011586
Rapid growth in the number and size of sovereign wealth funds (SWFs) in recent years has occasioned a broad-ranging policy debate about how best to accommodate or, indeed, limit the participation of these funds in the worlds capital markets. The announcement in March 2007 that China would open...
Persistent link: https://www.econbiz.de/10009363668
During the exploration of informal venture capital the authors of the work frequently came across with various definitions of such terms as informal investors and business angels. This research showed that various investigators, organizations and associations have different interpretation of the...
Persistent link: https://www.econbiz.de/10013027046