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While operating side-by-side with conventional banks, the systemic risk profile of Islamic banks could be different due to their unique business model. Using a sample of ten countries with dual-banking systems, where the Islamic banking sector is considered systemically important, this paper...
Persistent link: https://www.econbiz.de/10013233617
This paper shows how the US, UK, Germany and China are financially connected through their stock market liquidity in the COVID-19 pandemic. Using high frequency data on transaction costs, we identify a decrease in stock market liquidity and an increase in liquidity commonality amongst these...
Persistent link: https://www.econbiz.de/10013294929
Economic theory suggests that speculative trading can lead to instability in financial markets. Using a novel dataset on retail trading activity in the US, this study extends the literature and investigates the impact of retail (speculative) trading on the volatility of the financial markets...
Persistent link: https://www.econbiz.de/10013245849
This paper investigates how firm debt disproportionately impacted the stock returns of firms who were highly exposed to the economic consequences of social distancing. Specifically, I use a difference-in-difference design to causally identify the impact that higher levels of firm debt had for...
Persistent link: https://www.econbiz.de/10012831163
US government bond illiquidity measures began rising during the last week of February 2020. Several of them surpassed the Great Recession levels during the second week of March. Illiquidity spikes do not seem to match with proposed explanatory events. The illiquidity measures of the most...
Persistent link: https://www.econbiz.de/10012832127
Financial markets are useful indicators of public beliefs and dispersed knowledge on future outcomes and policy efficiency, especially in periods of uncertainty. 51 national stock markets successfully absorb publicly available information regarding COVID-19 and anticipate policy measures being...
Persistent link: https://www.econbiz.de/10012835444
I show that the irreversibility of dying coupled with gradual information acquisition over time on the likely arrival and eventual effectiveness of vaccines confers a real option value to lockdown strategies that delay the incidence of a pandemic.The case for lockdown strategies becomes stronger...
Persistent link: https://www.econbiz.de/10012510750
Transition to online teaching during the first wave of the COVID-19 pandemic has led to various concerns about educational quality. So far, researchers have mainly focused on the effects on school teaching. This paper looks at the effects on a large Italian university (University of Pavia,...
Persistent link: https://www.econbiz.de/10012511830
: the gender wage gap and income inequality, Moreover, we review some evidence of the effect of WFH on worker's productivity …
Persistent link: https://www.econbiz.de/10012794555
We see spikes in unemployment rates and turbulence in the securities markets during the COVID-19 pandemic. Governments are responding with aggressive monetary expansions and large-scale economic relief plans. We discuss the implications on banks and the economy of prudential regulatory...
Persistent link: https://www.econbiz.de/10012830709