Similar Search Results

Jurgilas, Marius - 2006

This paper analyzes interbank markets under currency boards. Under such an environment, problematic endogeneity issues common to other monetary regimes do not arise. Using daily data from the interbank markets in Bulgaria and Lithuania we show, that contrary to the existing literature, overnight...

Persistent link: https://www.econbiz.de/10009430031

A large central bank balance sheet? : Floor vs corridor systems in a New Keynesian environment

Arce Hortigüela, Óscar Javier; Nuño Barrau, Galo; … - 2018

Las políticas de compra de activos (QE, por sus siglas en inglés) implementadas en los últimos años por los bancos centrales han tenido un impacto profundo en el funcionamiento de los mercados monetarios, dando lugar a un gran exceso de reservas bancarias y presionando los tipos de interés...

Persistent link: https://www.econbiz.de/10012532199

CBDC and the operational framework of monetary policy

Abad, Jorge; Nuño, Galo; Thomas, Carlos

En este trabajo analizamos el impacto de la introducción de una moneda digital emitida por el banco central (CBDC, por sus siglas en inglés) sobre el marco operativo de la política monetaria y la macroeconomía en su conjunto. Para ello, desarrollamos un modelo neokeynesiano con bancos...

Persistent link: https://www.econbiz.de/10014573558

Financial market contagion: evidence from the Asian crisis using a multivariate GARCH approach

Khalid, Ahmed M.; Rajaguru, Gulasekaran - 2007

increased during and after the crisis. However, we found weak support for contagion in the pre-crisis period. …

Persistent link: https://www.econbiz.de/10009441578

Stock market contagion in the early stages of the global financial crisis: the experience of the GCC countries

Moosa, Imad - 2010

This study examines stock market contagion from the United States to the markets of the GCC countries during the period … that the collapse of the GCC stock markets did not result purely from contagion, in the sense that these markets did not …

Persistent link: https://www.econbiz.de/10009441584

Was financial market contagion the source of economic crisis in Asia? Evidence using a multivariate VAR model

Khalid, Ahmed M; Kawai, Masahiro - 2003

have sparked and induced contagion. This study further extends the existing research by identifying and testing three … financial market variables to trace the alleged origin and the subsequent path of the contagion during the 1997 Asian Crisis … strong support for contagion. We further extend the analysis by looking at the impulse responses. The results still do not …

Persistent link: https://www.econbiz.de/10009441798

Essays on International Reserve Accumulation and Cooperation in Latin America

Rosero, Luis Daniel - 2011

contagion risk in the accumulation process, and the outlook of regional arrangements of cooperation, such as regional reserve …

Persistent link: https://www.econbiz.de/10009468233

The Global Spread of Stock Exchange, 1980-1998

Weber, Klaus; Davis, Gerald F. - 2000

adjustment" aid; centrality in trade flows; and regional "contagion." In contrast to prior work in financial economics, we find …

Persistent link: https://www.econbiz.de/10009476864

Modelling the distribution of credit losses with observable and latent factors

Jiménez Zambrano, Gabriel; Mencía González, Javier - 2007

allowed to depend on macroeconomic conditions as well as on unobservable credit risk factors, which can capture contagion …

Persistent link: https://www.econbiz.de/10012530162

Short-sale constraints and financial stability : evidence from the Spanish market

Arce Hortigüela, Óscar Javier; Mayordomo Gómez, Sergio - 2014

We examine the effect of the short-selling ban in 2011 on Spanish stocks on the level of risk in the banking sector. Before the ban, short positions were found to be positive and significantly related to the creditworthiness of medium-sized banks, these being generally less internationally...

Persistent link: https://www.econbiz.de/10012530369