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The global financial crisis has pinpointed the relevance and the virulence of systemic risk in modern innovative … uncertainty. While plagued by disaster myopia, market participants spread systemic risk. Such adverse conditions have been …
Persistent link: https://www.econbiz.de/10008852745
The intensity of recent turbulence in financial markets has surprised nearly everyone. This paper searches out the root causes of the crisis, distinguishing them from scapegoating explanations that have been used in policy circles to divert attention from the underlying breakdown of incentives....
Persistent link: https://www.econbiz.de/10008852787
The current crisis is leading many to re-think the role of finance and how it snew. This paper reviews what was regarded as the conventional wisdom on financial regulation prior to the 2007 onset of the crisis, briefly recounts some of the main factors behind the events of the 2007-09 years, and...
Persistent link: https://www.econbiz.de/10008852788
We study the effect of financial crises on hedge fund risk. Using a regime-switching beta model, we separate systematic … and idiosyncratic components of hedge fund exposure. The systematic exposure to various risk factors is conditional on … in a crisis state) most strategies are negatively and significantly exposed to the Large-Small and Credit Spread risk …
Persistent link: https://www.econbiz.de/10008852979
restructuring the financial systems. Based on country risk assessment, the paper also presents the situation of the best banks from …
Persistent link: https://www.econbiz.de/10008853231
lays out proposals to actively help businesses at financial risk and prevent bankruptcy. In the same time, the national …
Persistent link: https://www.econbiz.de/10008853290
Kutatásunk eredményeként megállapítottuk, hogy a mezőgazdasági finanszírozás fontosabb csatornái a közvetlen banki finanszírozás és a közvetett banki finanszírozás. Ez utóbbinál a bank nem közvetlenül a termelőt, hanem egy köztes szervezetet, leggyakoribb esetben...
Persistent link: https://www.econbiz.de/10008853781
In this paper we take a systematic look at recent trends in global protectionism and at the potential implications of a protectionist backlash for economic growth, using results from the recent economic literature and new model simulations. We find that there has so far been a moderate increase...
Persistent link: https://www.econbiz.de/10008854102
This paper argues that the U.S. financial crisis is a new type of crisis: a "financial black hole." Financial black holes are characterized by the breaking-up of credit market discipline and the large-scale financing of negative NPV projects. In a theoretical model, we explain how the...
Persistent link: https://www.econbiz.de/10008854497
The global financial crisis has had a large negative impact on China’s economy, particularly on employment, but the government responses appear to have been effective. This article focuses on the social policy responses after the crisis, and how these are situated in the austere social...
Persistent link: https://www.econbiz.de/10011143774