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Pan, Kevin; Zeng, Yao - 2017

fragility of these ETFs. We focus on corporate bond ETFs and examine the role of authorized participants (APs) in ETF arbitrage …. In addition to their role as dealers in the underlying bond market, APs also play a unique role in arbitrage between the … conflict is small, liquidity mismatch reduces the arbitrage capacity of ETFs; as the conflict increases, an inventory …

Persistent link: https://www.econbiz.de/10011978386

Securisation special purpose entities, bank sponsors and derivatives

Fiedor, Paweł; Killeen, Neill - 2019

This paper documents the use of derivatives by securitisation special purpose entities (SPEs), also known as financial vehicle corporations (FVCs), domiciled in Ireland using transaction-level data established by the European Market Infrastructure Regulation. We show that these entities...

Persistent link: https://www.econbiz.de/10012036028

Financial stability assessment of EU candidate and potential candidate countries : developments since 2014

Gächter, Martin; Macki, Piotr; Moder, Isabella; … - 2017

This paper reviews and assesses financial stability challenges in countries preparing for EU membership, i.e. Albania, Bosnia and Herzegovina, Kosovo, the former Yugoslav Republic of Macedonia, Montenegro, Serbia and Turkey. The paper focuses on the period since 2014 and on the banking sectors...

Persistent link: https://www.econbiz.de/10011645431

Disentangling euro area portfolios : new evidence on cross-border securities holdings

Rousová, Linda; Rodríguez Caloca, Antonio - 2018

This paper presents a detailed set of new, quantity-based indicators of financial integration in the euro area. The indicators are based on granular data from securities holdings statistics and help us disentangle the main drivers of the portfolio changes observed since the financial crisis....

Persistent link: https://www.econbiz.de/10011857118

Are all forms of financial integration equally risky in times of financial turmoil? : asset price contagion during the global financial crisis

Ahrend, Rudiger; Goujard, Antoine - 2012

Using the 2008-09 global financial crisis, this paper examines the role of different forms of international financial integration for asset price contagion in crisis times. Defining contagion as the transmission of financial market movements beyond the co-movements that would occur in...

Persistent link: https://www.econbiz.de/10009691012

Priorities for completing the European Union's Single Market

Strasky, Jan - 2016

The EU Single Market remains far from completed: progress in goods and services market integration has stalled, financial markets are still fragmented along national lines and the barriers to labour mobility remain high. Restrictive regulation within countries and regulatory heterogeneity across...

Persistent link: https://www.econbiz.de/10011577839

Can reforms promoting growth increase financial fragility? : an empirical assessment

Caldera Sánchez, Aida; Gori, Filippo - 2016

Certain growth-promoting policies can have negative side-effects by increasing the vulnerability of economies to financial crises. Typical examples are greater openness to financial flows or more liberalised financial markets. This paper investigates whether the growth benefits of policy reforms...

Persistent link: https://www.econbiz.de/10011578174

Russia, EU enlargement and the euro

Polański, Zbigniew; Winkler, Adalbert - 2008

This paper reviews selected aspects of economic relations between the EU and Russia, focusing on the impact that the last two waves of EU enlargement have had on Russia, as well as the role of the euro in Russia. The analysis suggests that if EU enlargement has had any diversion effects on trade...

Persistent link: https://www.econbiz.de/10011641271

Building a stronger and more integrated Europe

Caldera Sánchez, Aida - 2018

Europe’s economy is finally growing robustly. These positive developments provide an opportunity to renew efforts to meet the long-term challenges facing the European Union (EU). The EU’s record on reducing regional income disparities is mixed and this explains some of citizens’ discontent...

Persistent link: https://www.econbiz.de/10011914284

Financial education for migrants and their families

Atkinson, Adele; Messy, Flore-Anne - 2015

Money remitted by international migrants is a major source of income for many countries around the world, exceeding all international development funds combined. Yet individual migrants and their families are often amongst the most vulnerable people in society, and many face significant barriers...

Persistent link: https://www.econbiz.de/10011404036

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