This paper examines the changes induced by the actual financial crisis in the dynamic relation between the currency rates and the differentials of the interest rates from Romania and euro area. In the framework of the Uncovered Interest Rate Parity hypothesis we apply the Vector Autoregressive...

The framework of mathematical dynamics of economic systems is applied to the development of financial crisis. A view is proposed that the severity of financial crises can be explained by means of superposition of the fluctuations on connected markets exhibited in the form of a resonance...

This paper empirical investigates the effects of 2008 financial crisis on exchange rate determination in PPP-UIP framework for four emerging countries, using monthly date over the period 1981-2012. The results suggest that the impact of recent financial crisis led to change the role of...

In this paper, we introduce a new pseudo-Bayesian model to incorporate the impact of a financial crisis and establish some properties of stock returns and investors' behavior during a financial crisis and subsequent recovery. Our approach provides a quantitative description for investors'...

The financial crises are considered the major challenges facing the prosperity and stability of the banking system and menace its stability. Several studies on financial and banking sector have demonstrated that Islamic banks have shown more financial robustness and stability compared to...

This essay aims to describe the financial crisis in the chronological way and explain the gap between academic and professional approach.

This article provides the in-sample estimation and evaluates the out of-sample conditional mean and volatility forecast performance of the conventional Generalized Autoregressive Conditional Heteroscedasticity (GARCH), Asymmetric Power Autoregressive Conditional Heteroscedasticity (APARCH) and...

Credit rating agencies occupies a major role in the global economy in the last two décades. Its appearence was mainly to help investors in the Financial markets to take rational investment decisions by providing a rating that reflects The creditworthiness of the debtor and hence reduce the...

This study is the first attempt to investigate the relationship between firm’s leverage and systematic risk for seven European countries in relation to Shari’ah (Islamic) stock screening. This paper also aims to examine the shock transmission through the systematic risk and whether less debt...