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Economic policies and microeconomic stability : a literature review and some empirics
Garda, Paula; Ziemann, Volker - 2014
The decline in macroeconomic volatility from the 1980s to the onset of the Great Recession did not, in general …, translate into more microeconomic stability. While microeconomic volatility can reflect growth-generating processes, such as … creative destruction and re-allocation of resources, consumption growth volatility weighs on households’ welfare. This study …
Persistent link: https://www.econbiz.de/10010374408
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The role of financial markets and innovation in productivity and growth in Europe
Hartmann, Philipp; Heider, Florian; Papaioannou, Elias; … - 2007
The extended period of limited growth experienced until recently in many European countries raises the issue as to which policies could be most effective in improving their economic performance. This paper argues that further financial sector reforms may be a valuable complement to ongoing...
Persistent link: https://www.econbiz.de/10011639667
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Cyclical investment behavior across financial institutions
Timmer, Yannick - 2016
This paper examines the investment behavior of different financial institutions in debt securities with a particular focus on their response to price changes. For identification, we use security-level data from the German Microdatabase Securities Holdings Statistics. Our results suggest that...
Persistent link: https://www.econbiz.de/10011975050
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Do financial systems converge? : new evidence from household financial assets in selected OECD countries
Bruno, Giuseppe; De Bonis, Riccardo - 2009
Many authors underlined the convergence of financial structures towards a model which combines elements of the Anglo Saxon one, where markets prevail, with characteristics of the continental European systems, where intermediaries are predominant. The goal of this paper is to study financial...
Persistent link: https://www.econbiz.de/10003857689
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Exchange rates and the global transmission of equity market shocks
Ojea-Ferreiro, Javier; Reboredo, Juan Carlos - 2021
We assess the role played by exchange rates in buffering or amplifying the propagation of shocks across international equity markets. Using copula functions we model the joint dependence between exchange rates and two global equity markets and, from a copula framework, we obtain the conditional...
Persistent link: https://www.econbiz.de/10012549999
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Auswirkungen des Euro auf die Kapitalmärkte : Mitteilung der Kommission
1997
Persistent link: https://www.econbiz.de/10000964268
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Financial integration in the EU28 equity markets : measures and drivers
Michela, Nardo; Elisa, Ossola; Evangalia, Papanagiotou - 2020
overall political uncertainty drive financial integration and systematic volatility, while macroeconomic variables do not … impact idiosyncratic volatility. High market integration is associated with decreasing diversification benefit. During crisis …
Persistent link: https://www.econbiz.de/10012299177
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Finance and economic growth : financing structure and non-linear impact
Benczúr, Péter; Karagiannis, Stylianos; Kvedaras, … - 2017
There is growing evidence that the impact of financial development on economic growth might be non-linear and hump-shaped, exhibiting a turning point. However, such findings are typically established using total finances (mostly: credit), and the apparent non-linear impact of totals can stem...
Persistent link: https://www.econbiz.de/10012054612