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The impact of macroeconomic factors on the German stock market: Evidence for the crisis, pre- and post-crisis periods

Celebi, Kaan; Hönig, Michaela - In: International Journal of Financial Studies 7 (2019) 2, pp. 1-13

Today we live in a post-truth and highly digitalized era characterized by a flow of (mis-) information around the world. Identifying the impact of this information on stock markets and forecasting stock returns and volatilities has become a much more difficult task, perhaps almost impossible....

Persistent link: https://www.econbiz.de/10013200196

Financial crises and political radicalization: How failing banks paved Hitler’s path to power

Doerr, Sebastian; Gissler, Stefan; Peydró, José-Luis; … - In: The Journal of Finance 77 (2022) 6, pp. 3339-3372

Do financial crises radicalize voters? We study Germany's 1931 banking crisis, collecting new data on bank branches and firm-bank connections. Exploiting cross-sectional variation in precrisis exposure to the bank at the center of the crisis, we show that Nazi votes surged in locations more...

Persistent link: https://www.econbiz.de/10014279951

Financial vulnerability and economic dynamics in Malaysia

Kuek, Tai-Hock; Puah, Chin-Hong - In: Journal of Central Banking Theory and Practice 9 (2020) S1, pp. 55-73

This study attempts to develop a financial vulnerability indicator serving as a composite indicator for the state of financial vulnerability. The indicator was constructed from 10 variables of macroeconomic, financial and property market by extracting a common vulnerability component through the...

Persistent link: https://www.econbiz.de/10014558542

An optimal early warning system for currency crises under model uncertainty

Abdelsalam, Mamdouh Abdelmoula Mohamed; Abdel-Latif, Hany - In: Central Bank Review (CBR) 20 (2020) 3, pp. 99-107

This paper assesses several early warning (EWS) models of financial crises to propose a model that can predict the incidence of a currency crisis in developing countries. For this purpose, we employ the equal weighting (EW) and dynamic model averaging (DMA) approaches to combine forecast from...

Persistent link: https://www.econbiz.de/10014547774

The Link Between Incomplete Information on the Interbank Network and Counterparty Risk

Förster, Daniel; Walther, Martin - In: Credit and Capital Markets – Kredit und Kapital 52 (2019) 2, pp. 213-227

unanticipated insolvency of one bank. Banks that cannot rule out an indirect hit react by selling assets and hoarding liquidity …. While this potentially lowers illiquidity risks, it depresses market liquidity and prices. This leads to a negative … externality by which sales to acquire liquidity simultaneously lead to lower global sale proceeds and thus to a greater number of …

Persistent link: https://www.econbiz.de/10014523045

Macroprudential Policy and Credit Supply

Peydró, José-Luis - In: Swiss Journal of Economics and Statistics 152 (2016) 4, pp. 305-318

In this paper we analyze financial crises, and the interactions of macroprudential policy and credit. Financial crises are recurrent systemic phenomena, often-triggering deep and long-lasting recessions with large reductions in aggregate welfare, output and employment. Importantly for policy,...

Persistent link: https://www.econbiz.de/10011933347

Global imbalances, the US dollar, and how the crisis at the core of global finance spread to "self-insuring" emerging market economies

Bibow, Jörg - In: Intervention. European Journal of Economics and … 07 (2010) 2, pp. 325-359

This paper investigates the spread of what started as a crisis at the core of the global financial system to emerging economies. While emerging economies had exhibited some resilience through the early stages of the financial turmoil that began in the summer of 2007, they have been hit hard...

Persistent link: https://www.econbiz.de/10014363101

Fragility of reputation and clustering of risk-taking

Ordoñez, Guillermo L. - In: Theoretical Economics 8 (2013) 3, pp. 653-700

Reputation concerns in credit markets restrain borrowers' temptations to take excessive risk. The strength of these concerns depends on the behavior of other borrowers, rendering the reputational discipline fragile and subject to breakdowns without obvious changes in economic fundamentals....

Persistent link: https://www.econbiz.de/10011599495

IW-Bankenmonitor: Bringt die Bankenprüfung der Europäischen Zentralbank das Vertrauen in den Euroraum zurück?

Demary, Markus - In: IW-Trends - Vierteljahresschrift zur empirischen … 41 (2014) 1, pp. 33-48

Bevor die Europäische Zentralbank die oberste Bankenaufsicht innerhalb der Bankenunion im November 2014 übernimmt, wird sie die 128 größten und systemrelevanten Banken des Euroraums einer umfassenden Bilanzprüfung unterziehen. Um die Konsolidierung im Bankensektor und den Aufbau der...

Persistent link: https://www.econbiz.de/10011633359

IW-Bankenmonitor 2015: Schleppende Kreditentwicklung trotz oder wegen der Rekapitalisierungsfortschritte?

Demary, Markus - In: IW-Trends - Vierteljahresschrift zur empirischen … 42 (2015) 3, pp. 95-113

Die Banken im Euroraum befinden sich immer noch in einem Prozess der Bilanzbereinigung. Auch wenn sich die Kreditvergabe aktuell wieder leicht positiv entwickelt, vergaben viele Banken trotz der Fortschritte bei der Rekapitalisierung lange Zeit nur zögerlich Kredite. Gleichzeitig bauten sie...

Persistent link: https://www.econbiz.de/10011633401

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