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We identify a sizable wealth redistribution channel which creates a monetary policy trade-off whereby short-term economic stimulus is followed by persistently lower output over the medium term. This trade-off is stronger in economies with more nominal household debt but weakened by a more...
Persistent link: https://www.econbiz.de/10012695569
Die Distributed Ledger- bzw. Blockchain-Technologie führt zu einer zunehmenden Dezentralisierung von Finanzdienstleistungen, die weitgehend ohne die Einschaltung von Finanzintermediären angeboten werden können. Dazu trägt wesentlich die "Tokenisierung" von Vermögensgegenständen,...
Persistent link: https://www.econbiz.de/10012703381
Mission statements (MSs) are one of the most widespread managerial practices. However, a deeper understanding of the relationship between MS's characteristics and firms' financial performance is still necessary. The vast majority of the research on this topic has been performed on companies of...
Persistent link: https://www.econbiz.de/10012703547
This paper explores the extent to which correlated investments in the futures market concentrated systemic risk on large Canadian banks around the 2008 crisis. We find that core banks took positions against the periphery, increasing their systemic risk as a group. On the portfolio level,...
Persistent link: https://www.econbiz.de/10012705295
This paper investigates the nexus between bank-based financial inclusion and asset quality of 43 Banks in Kenya using data from 2001 and 2015. Based on a Dynamic Panel (System) GMM employed to investigate the empirical interactions between growth in outstanding bank credit, deposit growth and...
Persistent link: https://www.econbiz.de/10012807530
Bank regulation is based on the premise that risks spill over more easily from large banks to the banking system than vice versa. On the contrary, we document that risk transmission is stronger in the system-to-bank direction. We term this asymmetric systemic risk, measure it with net exposure...
Persistent link: https://www.econbiz.de/10013396502
This paper presents a theoretical and empirical outlook on different aspects of various cryptocurrencies, blockchain technology including the evolution of digital tokens and how they widely affect the financial markets, organizations, banks, governments via analyzing the characteristics and...
Persistent link: https://www.econbiz.de/10013466252
The financial sector plays an important role in financing the green transformation. Various regulatory initiatives in the EU aim to improve transparency in relation to the sustainability of financial products and the sustainability of economic activities of non-financial and financial...
Persistent link: https://www.econbiz.de/10013494459
Stablecoins and money market funds both seek to provide investors with safe, money-like assets but are vulnerable to runs in times of stress. In this paper, we investigate similarities and differences between the two, comparing investor behavior during the stablecoin runs of 2022 and 2023 to...
Persistent link: https://www.econbiz.de/10014442992
Considering the role of research and development in increasing knowledge with creative work, in this study, we analyse the link between research and development expenditures in several performance sectors (business, government, higher education) and indicators regarding the protection of...
Persistent link: https://www.econbiz.de/10014463447