Over the past year, euro area sovereign spreads have exhibited an unprecedented degree of volatility. This paper explores how much of these large movements reflected shifts in (i) global risk aversion (ii) country-specific risks, directly from worsening fundamentals, or indirectly from...

The recent global financial turmoil raised questions about the stability of foreign banks' financing to emerging market countries. While foreign banks' lending growth to most emerging market regions contracted sharply, lending to Latin America and the Caribbean (LAC) was significantly more...

The paper estimates the P* model for Bangladesh economy and test its forecasting ability through generating recursive forecasts. The empirical result shows that the model performs relatively well and contains additional information regarding future rates of inflation. The price and output gap...

Although economic growth has improved in recent years in Bangladesh, the better economic performance has not translated into satisfactory poverty reduction. The type of growth that matters Bangladesh is the one that creates employment opportunities especially for the poor. In Bangladesh,...

Die Zahl der Vorständinnen ist in großen Unternehmen in Deutschland im vergangenen Jahr erneut gestiegen: In den 200 umsatzstärksten Unternehmen waren im Spätherbst 2023 rund 18 Prozent (153 von 875) aller Vorstandsmitglieder Frauen, etwa zwei Prozentpunkte mehr als im Jahr zuvor. Damit hat...

This paper analyzes the effects of anticipated inflation on the resource allocations between production and financial services. We develop a model with heterogeneous workers and two sectors economy. A manufacturing sector producing a final composite good and a financial sector providing monetary...

The global financial crisis has reopened the debate on the potential spillover effects from the financial sector to the real economy. This paper adds to that debate by providing new evidence on the link between finance and firm-level productivity, focusing on the case of Estonia. We contribute...

This paper examines the impact of regional cross-listing on stock prices. The sample consists of sub- Saharan African firms that have cross-listed during the period 1992-2008. Using event study methodology, the study finds positive abnormal returns around the date of the regional cross-listing...