Central bank governor changes in emerging markets may convey important signals about future monetary policy. Based on a new daily data set, this paper examines the reactions of foreign exchange markets, domestic stock market indices and sovereign bond spreads to central bank governor changes....

Gender-based discrimination is a pervasive and costly phenomenon. To a greater or lesser extent, all economies present a gender wage gap, associated with lower female labor force participation rates and higher fertility. This paper presents a growth model where saving, fertility and labor market...

In this paper we investigate the macroeconomic impact of natural disasters in developing countries by examining hurricane strikes in the Central American and Caribbean region. Our innovation in this regard is to employ a windfield model combined with a power dissipation equation on hurricane...

Sub-Saharan Africa has been characterised by low-income levels for decades. This paper analyses the impact of economic globalisation and democracy on income in sub-Saharan Africa using panel cointegration techniques. The paper considers a composite indicator for economic globalisation and...

This paper contributes towards the growing debate concerning the world distribution of income and its evolution over that past three to four decades. Our methodological approach is twofold. First, we formally test for the number of modes in a cross-sectional analysis where each country is...

Information technologies play a very important role in modernizing Russia's economy and society as whole. Its competitive advantage lies in the availability of highly educated labour resources. Russia accounts for approximately 9% of researchers in the world as opposed to a share of about 0.3%...

Entrepreneurial orientation (EO) represents a firm-level construct that captures innovativeness, proactiveness, and risk-taking of the existing companies. The main focus of this paper is to present the EO of 477 companies in Bosnia and Herzegovina and to compare EO between companies operating...

This study analyzes the impact of regional economic conditions on stock returns. I identify all U.S. states that are economically relevant for a firm through textual analysis of annual reports and construct a novel proxy for regional economic activity. Using this proxy, I find that economic...

Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...

Using a new daily dataset for all stocks traded on the New York Stock Exchange, we study the evolution of information asymmetry during runs on financial institutions and the subsequent liquidity freeze of October 1907 - one of the severest financial crises of the 20\textsuperscript{th} century....