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A Methodological Perspective on the Capital Markets Union: Using Economics to Derive Effective Policy Measures
Thiel, Michael - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 1, pp. 9-27
From the economists' perspective, the Capital Markets Union (CMU) represents a policy experiment that allows studying how legal conditions, economic incentives and financial activity interact. Recent papers provide economic support for the overall objective of CMU, but the robustness of this...
Persistent link: https://www.econbiz.de/10011916320
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Does competence of central bank governors influence financial stability?
Ozili, Peterson K. - In: Future Business Journal 6 (2020) 1, pp. 1-20
This study investigates whether the competence of central bank governors affects the stability of the financial system they are responsible for. Using publicly available information about central bank governors from 2000 to 2016 together with data on financial stability and the macroeconomy, the...
Persistent link: https://www.econbiz.de/10012664334
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Extreme connectedness between green bonds, government bonds, corporate bonds and other asset classes: Insights for portfolio investors
Abakah, Emmanuel Joel Aikins; Tiwari, Aviral Kumar; … - In: Journal of Risk and Financial Management 15 (2022) 10, pp. 1-17
commodities. The results also shows that green bonds are strongly connected with treasury bonds, aggregate bonds and bond index … highlights the hedging and diversification benefits of green bonds. We have several implications for portfolio managers, policy … economic downturn. Specifically, we examine quantile-based time-varying connectedness between the green bond market and other …
Persistent link: https://www.econbiz.de/10014332676
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Financial system specialization and private research and development expenditure: Research for OECD countries
Méndez-Morales, Edgard Alberto; Yanes-Guerra, Carlos … - In: Journal of Economics, Finance and Administrative Science 26 (2021) 51, pp. 41-60
the critical role that stock markets have in enhancing private R&D and that bond markets have an inverse relationship with …
Persistent link: https://www.econbiz.de/10013192192
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Cash flows discounted using a model-free SDF extracted under a yield curve prior
Gallant, A. Ronald; Tauchen, George Eugene - In: Journal of Risk and Financial Management 14 (2021) 3, pp. 1-15
We developed a model-free Bayesian extraction procedure for the stochastic discount factor under a yield curve prior. Previous methods in the literature directly or indirectly use some particular parametric asset-pricing models such as with long-run risks or habits as the prior. Here, in...
Persistent link: https://www.econbiz.de/10012611657
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On the diversification of fixed income assets
Le Courtois, Olivier - In: Risks 10 (2022) 2, pp. 1-21
. Because Government bonds, corporate bonds, and mortgage backed securities constitute a large proportion of the assets of …
Persistent link: https://www.econbiz.de/10013200922
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Break-even maturity as a guide to financial distress
Ellis, Colin - In: Contemporary Economics 8 (2014) 4, pp. 387-396
different borrowers that is distinct from the standard metrics gleaned from bond yields or credit-default swaps. As such, while …
Persistent link: https://www.econbiz.de/10011480607
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Making sustainable finance sustainable
Ozili, Peterson K. - In: Financial Internet Quarterly 17 (2021) 3, pp. 64-70
The purpose of this paper is to highlight some issues and proffer solutions that can make sustainable finance become sustainable. One, there should be greater focus on how some aspects of finance can contribute to sustainability. Two, light-touch regulation may be needed to grow the relatively...
Persistent link: https://www.econbiz.de/10013466284
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How can states benefit from the equity premium puzzle? Debt as revenue source for Swiss cantons
Christen, Ramon; Soguel, Nils - In: Swiss Journal of Economics and Statistics 155 (2019) 4, pp. 1-17
This paper addresses the question of the optimal debt level of a state (canton) that issues new bonds and subsequently …
Persistent link: https://www.econbiz.de/10013205772
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Challenges for the European Capital Markets Union: Reviving Financial Integration and Safeguarding Financial Stability
Demary, Markus - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 1, pp. 55-68
should also monitor systemically important markets, like the government bond market, from which country-specific risks can …
Persistent link: https://www.econbiz.de/10011916323