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In this paper we propose a novel approach in analysing the impact of changes in sovereign credit ratings on stock markets. We study the evolution of a segmented form of the stock market index for several crisis-hit countries, including both European and Asian markets. Such evolution is modelled...
Persistent link: https://www.econbiz.de/10012103125
-Backed Securities as instruments to hedge inventory risk and it assumes that they diversify their activities widely across euro area …
Persistent link: https://www.econbiz.de/10011848364
investment, it examines the potential impact of higher debt levels on investment during the recovery. Against this background … potentially affect otherwise viable firms, and to lessen the risk of debt-overhang, which could slow down the speed of recovery. …
Persistent link: https://www.econbiz.de/10012421296
the management, capital structure, investment strategy and portfolio allocation of the surveyed blended finance funds and … shedding light on additional aspects (e.g. investors, clients and investment instruments). …
Persistent link: https://www.econbiz.de/10012137012
This paper investigates in a non-linear setting the impact on the real economy of frictions stemming from the financial sector. We develop a medium scale DSGE model with a banking sector where an occasionally binding constraint on banks' capital induces a relevant non-linearity. The model -...
Persistent link: https://www.econbiz.de/10011976236
investment through wide-ranging structural reforms. Areas that require reforms include the regulation of product and labour … institutions are particularly relevant, would stimulate private investment, facilitating the creation of new firms and jobs, and …
Persistent link: https://www.econbiz.de/10011823732
same time, the positive impact of a marginal increase in debt on investment efficiency disappears if firm debt is already … and banks and investment efficiency. …
Persistent link: https://www.econbiz.de/10011946656
Mutual fund risk-taking via active portfolio rebalancing varies both in the crosssection and over time. In this paper …, I show that the same is true for funds' off- balance sheet risk-taking, even after controlling for on-balance sheet … information. In the empirical application, I show that German equity funds have increased their risk-taking via synthetic leverage …
Persistent link: https://www.econbiz.de/10012622826
Persistent link: https://www.econbiz.de/10010128498