This paper challenges recent conventional wisdom of a divide between Main Street (the average American consumer) and Wall Street (financial market participants). The views of survey respondents regarding the likelihood of stock index returns exceeding specific thresholds are compared to market...

This study addresses the question of whether the adaptive market hypothesis provides a better description of the behaviour of emerging stock market like India. We employed linear and nonlinear methods to evaluate the hypothesis empirically. The linear tests show a cyclical pattern in linear...

This paper presents a regional analysis of the answers reported in the Delphi study, titled “Some Elements of the Next Global Economic System over the Next 20 Years” and the goal of the study was: to identify new elements that might be included in a global economic system or affect its...

Capital flow volatility is a concern for macroeconomic and financial stability. Nonetheless, literature is scarce in this topic. Our paper sheds light on this issue in two dimensions. First, using quarterly data for 33 emerging markets and developing economies over the period 1970Q1-2016Q4, we...

This paper analyzes the relationship between debt and the production decision of companies active in the exploration and production of oil and gas in the United States. Over the last couple of years, the development and application of innovative extraction methods, like hydraulic fracturing and...

Credit risk in financial institutions has been widely debated among experts and legislators as a substantial risk to the financial industry's health. In addition to examining bank-specific and macroeconomic reasons, the study examines the impacts of political institutions and macroprudential...

There are diverging results in the literature on whether engaging in ESG related activities increases or decreases the financial and systemic risks of firms. In this study, we explore whether maintaining higher ESG ratings reduces the systemic risks of firms in a stock market context. For this...

Concerns about the impact of the general global uncertainty on economic performance have dominated academic debate in the aftermath of the Global Financial Crisis leading to huge body of empirical studies on ways of measuring and quantifying countries uncertainty and its impact on GDP,...

This paper explores the contagious propagation of jumps among international stock market indices by exploiting a rich panel of stock and options data. We propose a multivariate option pricing model designed to allow for, but not superimpose, time and space amplification of jumps in option...

A novel spatial autoregressive model for panel data is introduced, which incorporates multilayer networks and accounts for time-varying relationships. Moreover, the proposed approach allows the structural variance to evolve smoothly over time and enables the analysis of shock propagation in...