Filtern nach
Letzte Suchanfragen

Ergebnisse für *

Zeige Ergebnisse 1 bis 25 von 128.

  1. Parliamentary control of public money
  2. Riding out of a financial crisis
    the joint effect of trust and corporate ownership
    Erschienen: July 2020
    Verlag:  GSE, Graduate School of Economics, Barcelona

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 541
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Barcelona GSE working paper series ; no 1194
    Schlagworte: trust; trade financing; family firms; financial crisis; performance
    Umfang: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  3. Balance sheets and debt crises
    empirical regularities for modern cases of sovereign distress
    Erschienen: April 2021
    Verlag:  International Monetary Fund, [Washington, D.C.]

    Public and private sector balance sheets are an important component to any analysis of debt sustainability. A vulnerable and indebted private sector can become a sudden liability for the government; alternatively, resilient household and bank balance... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
    keine Fernleihe
    Universitätsbibliothek Braunschweig
    keine Fernleihe
    Staats- und Universitätsbibliothek Bremen
    keine Fernleihe
    Universitätsbibliothek Erfurt / Forschungsbibliothek Gotha, Universitätsbibliothek Erfurt
    keine Fernleihe
    Bibliothek der Pädagogischen Hochschule Freiburg/Breisgau
    keine Fernleihe
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    keine Fernleihe
    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
    keine Fernleihe
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    keine Fernleihe
    Technische Universität Hamburg, Universitätsbibliothek
    keine Fernleihe
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    keine Fernleihe
    Duale Hochschule Baden-Württemberg Heidenheim, Bibliothek
    e-Book Nationallizenz
    keine Fernleihe
    Thüringer Universitäts- und Landesbibliothek
    keine Fernleihe
    Fachhochschule Kiel, Zentralbibliothek
    keine Fernleihe
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 301
    keine Fernleihe
    Universitätsbibliothek Leipzig
    keine Fernleihe
    Leuphana Universität Lüneburg, Medien- und Informationszentrum, Universitätsbibliothek
    keine Fernleihe
    Duale Hochschule Baden-Württemberg Mosbach, Bibliothek
    E-Book Nationallizenz IMF
    keine Fernleihe
    Hochschule Offenburg, University of Applied Sciences, Bibliothek Campus Offenburg
    E-Book International Monetary Fund
    keine Ausleihe von Bänden, nur Papierkopien werden versandt
    Hochschulbibliothek Pforzheim, Bereichsbibliothek Technik und Wirtschaft
    e-Book International Monetary Fund eLibrary
    keine Ausleihe von Bänden, nur Papierkopien werden versandt
    Duale Hochschule Baden-Württemberg Ravensburg, Bibliothek
    E-Book IMF
    keine Fernleihe
    Hochschule Albstadt-Sigmaringen, Bibliothek Sigmaringen
    keine Ausleihe von Bänden, nur Papierkopien werden versandt

     

    Public and private sector balance sheets are an important component to any analysis of debt sustainability. A vulnerable and indebted private sector can become a sudden liability for the government; alternatively, resilient household and bank balance sheets may reveal potential sources of funding for the sovereign during times of fiscal distress. In this paper, we document empirical regularities in the behavior of macroeconomic variables during debt crises, and show how both macroeconomic fundamentals and sectoral net worth can affect the likelihood of undergoing default

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Staatsbibliothek zu Berlin
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9781513574011
    Weitere Identifier:
    Schriftenreihe: IMF working paper ; WP/21, 125
    Schlagworte: sovereign debt restructuring; national balance sheets; default; net wealth; financial crisis; debt crisis; sovereign distress; fiscal stress; Foreign Exchange; Informal Economy; Public Administration; Public Sector Accounting and Audits; Underground Econom
    Umfang: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  4. Ups and downs in finance, ups without downs in inequality

    The upswing in finance over the past several decades has led to rising inequality, but do downswings in finance lead to a symmetric decline in inequality? In this paper, we analyze the asymmetry of the effect of ups and downs in financial markets, as... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    keine Fernleihe
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 485
    keine Fernleihe
    Universitätsbibliothek Mannheim
    keine Fernleihe
    Mannheimer Zentrum für Europäische Sozialforschung, Bibliothek
    WP/Online
    keine Fernleihe

     

    The upswing in finance over the past several decades has led to rising inequality, but do downswings in finance lead to a symmetric decline in inequality? In this paper, we analyze the asymmetry of the effect of ups and downs in financial markets, as well as the effect of increased capital requirements and the bonus cap on national earnings inequality. We use administrative employer-employee linked data on earnings from 1990 to 2017 for twelve countries. Additionally, we use data on earnings from bank reports, from 2009 to 2017 in thirteen European countries. We find a strong asymmetry in the effects of financial ups and downs on earnings inequality, a mitigating effect of rising capital requirements on the contribution of finance to inequality, and a restructuring effect of the bonus cap for the earnings of financiers, while neither policy affects absolute levels of earnings inequality.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/247780
    Schriftenreihe: MaxPo discussion paper ; no. 21, 2
    Schlagworte: inequality; finance; financial crisis; regulation
    Umfang: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  5. Hot money inflows and bank risk-taking
    Germany from the 1920s to the great depression
    Erschienen: 04 October 2021
    Verlag:  Centre for Economic Policy Research, London

    Zugang:
    Verlag (lizenzpflichtig)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    LZ 161
    keine Fernleihe
    Universitätsbibliothek Mannheim
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP16606
    Schlagworte: money supply; credit; financial globalization; Foreign Debt; International Lending,Financial Development; financial crisis
    Umfang: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  6. The colonial origins of banking crisis in Africa
    Erschienen: [2021]
    Verlag:  African Development Bank, Abidjan, Côte d’Ivoire

    Zugang:
    Verlag (kostenfrei)
    Fachinformationsverbund Internationale Beziehungen und Länderkunde
    keine Fernleihe
    German Institute for Global and Area Studies, Bibliothek
    uneingeschränkte Fernleihe, Kopie und Ausleihe
    Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht, Bibliothek
    keine Fernleihe
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Keine Rechte
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper series / African Development Bank Group ; no 358 (October 2021)
    Schlagworte: Finanzwirtschaft; Finanzdienstleistung; Bank; Krise; Geschichte; Einflussgröße; Kolonialismus; Kolonie; Wirtschaft; Management; Auswirkung; Banks; financial institutions; banking crisis; financial crisis; colonial economic history; African economic history; social networks; Africa
    Umfang: 1 Online-Ressource (34 Seiten), Diagramme
    Bemerkung(en):

    Literaturverzeichnis, Literaturhinweise, Annex, Tabellen

  7. Shadow insurance?
    money market fund investors and bank sponsorship
    Erschienen: 2021
    Verlag:  Federal Research Bank of Kansas City, Kansas City, Mo.

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 359
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: KcFED research working papers ; RWP 21, 07 (August 2021)
    Schlagworte: Geldmarktfonds; Institutioneller Investor; Bank; Informeller Finanzsektor; Fondskosten; USA; bank; bank holding company; bank run; financial crisis; liquidity risk; money market fund; systemic risk; too big to fail
    Umfang: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  8. Systemic implications of the bail-in design
    Erschienen: 03 September 2021
    Verlag:  Centre for Economic Policy Research, London

    Zugang:
    Verlag (lizenzpflichtig)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    LZ 161
    keine Fernleihe
    Universitätsbibliothek Mannheim
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP16509
    Schlagworte: Too Big To Fail; Resolution; bail-in; financial crisis; contagion; Financial Networks,default; systemically important banks; bail-in debt pricing; political economy
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  9. Misdiagnosing bank capital problems
    Erschienen: 31 October 2021
    Verlag:  Centre for Economic Policy Research, London

    Zugang:
    Verlag (lizenzpflichtig)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    LZ 161
    keine Fernleihe
    Universitätsbibliothek Mannheim
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP16680
    Schlagworte: bank capital; Regulatory capital; Capital requirements; Regulatory forbearance; bankruns; Solvency Runs; Liquidity Runs; stress tests; financial crisis
    Umfang: 1 Online-Ressource (circa 59 Seiten)
  10. A thousand words tell more than just numbers
    financial crises and historical headlines
    Erschienen: November 2021
    Verlag:  Aboa Centre for Economics, Turku

    We show that financial crises are preceded by changes in specific types of narrative information contained in newspaper article titles. Our novel international dataset and the resulting empirical evidence are gathered by integrating information from... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 753
    keine Fernleihe

     

    We show that financial crises are preceded by changes in specific types of narrative information contained in newspaper article titles. Our novel international dataset and the resulting empirical evidence are gathered by integrating information from a large panel of economic news articles in global newspapers between the years 1870 and 2016 with conventional macroeconomic and financial indicators. We find that the predictive information of newspaper article titles that signals coming crisis episodes is substantial ver and above the macroeconomic and financial indicators. The new indicators capture common features that have often been discussed as potential causes of specific crises but which have not been incorporated into empirical models.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/265187
    Schriftenreihe: Discussion paper / Aboa Centre for Economics ; no. 149
    Schlagworte: financial crisis; text data; leading indicators; topic model
    Umfang: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  11. Reducing strategic default in a financial crisis
    Erschienen: [2021]
    Verlag:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 438
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: Working papers / Research Department, Federal Reserve Bank of Philadelphia ; 21, 36 (November 2021)
    Schlagworte: strategic default; financial crisis
    Umfang: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  12. Revisiting limits and pitfalls of QE in emerging markets
    Erschienen: November 2021
    Verlag:  National Bank of Romania, [Bucureşti]

    Zugang:
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Nicht speichern
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Occasional papers / National Bank of Romania ; no. 34
    Schlagworte: currency substitution; debt monetization; emerging economies; external debt; financial crisis; fiscal policy; inflation; monetary policy; pandemic shock; Quantitative Easing (QE); reserve currency
    Umfang: 1 Online-Ressource (circa 35 Seiten), Illustrationen
  13. Outliers do matter: comparing the databases of financial crisis events
    Erschienen: 2021
    Verlag:  Ekonomický Ústav SAV, Bratislava

    Zugang:
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Nicht speichern
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working papers / Ekonomický Ústav SAV ; 109
    Schlagworte: financial crisis; fiscal crisis; banking crisis; dating of crises; crisis prediction
    Umfang: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  14. Financial instability and economic activity
    Erschienen: [2021]
    Verlag:  Institut für Höhere Studien - Institute for Advanced Studies (IHS), Wien

    We estimate new indices measuring financial and economic (in)stability in Austria and in the euro area. Instead of estimating the level of (in)stability in a financial or economic system we measure the degree of predictability of (in)stability, where... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 387
    keine Fernleihe

     

    We estimate new indices measuring financial and economic (in)stability in Austria and in the euro area. Instead of estimating the level of (in)stability in a financial or economic system we measure the degree of predictability of (in)stability, where our methodological approach is based on the uncertainty index of Jurado, Ludvigson and Ng (2015). We perform an impulse response analysis in a vector error correction framework, where we focus on the impact of uncertainty shocks on industrial production, employment and the stock market. We find that financial uncertainty shows a strong significantly negative impact on the stock market, for both Austria and the euro area, while economic uncertainty shows a strong significantly negative impact on the economic variables for the euro area. We also perform a forecasting analysis, where we assess the merits of uncertainty indicators for forecasting industrial production, employment and the stock market, using different forecast performance measures. The results suggest that financial uncertainty improves the forecasts of the stock market while economic uncertainty improves the forecasts of macroeconomic variables. We also use aggregate banking data to construct an augmented financial uncertainty index and examine whether models including this augmented financial uncertainty index outperform models including the original financial uncertainty index in terms of forecasting.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/248710
    Schriftenreihe: IHS working paper ; 36 (November 2021)
    Schlagworte: financial (in)stability; uncertainty; financial crisis; forecasting; stochastic volatility; factor models
    Umfang: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  15. Investors' perception of business group membership during an economic crisis
    evidence from the COVID-19 pandemic
    Autor*in: Ducret, Romain
    Erschienen: 2021
    Verlag:  University of Fribourg, Switzerland, Faculty of Economics and Social Sciences, Fribourg

    This paper examines how investors perceive business group membership in Korea during the COVID-19 pandemic. Stock price performance analysis reveals evidence of a time-varying and heterogeneous value of affiliation: investors discount business group... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 263
    keine Fernleihe

     

    This paper examines how investors perceive business group membership in Korea during the COVID-19 pandemic. Stock price performance analysis reveals evidence of a time-varying and heterogeneous value of affiliation: investors discount business group affiliation during a market collapse, but are willing to pay a premium for affiliation during market recovery. Overall, this pattern is more pronounced for financially weak affiliates and large business groups. The results further show that business group membership alleviates investors' concerns regarding financial flexibility, highlighting the role of internal capital markets as a substitute for external finance.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Auflage/Ausgabe: This version: September 7, 2021
    Schriftenreihe: Working papers SES / Université de Fribourg, Faculté des sciences economiques et sociales ; n. 524 (X.2021)
    Schlagworte: Business groups; financial crisis; COVID-19; internal capital market; Korea
    Umfang: 1 Online-Ressource (circa 54 Seiten), Illustrationen
  16. Economic effects of coronavirus outbreak (COVID-19) on the world economy
    Autor*in: Fernandes, Nuno
    Erschienen: [2020]
    Verlag:  [IESE Business School], [Barcelona]

    This report discusses the economic impact of the Coronavirus/COVID-19 crisis across industries, and countries. It also provides estimates of the potential global economic costs of COVID-19, and the GDP growth of different countries. The current draft... mehr

    Zugang:
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    keine Fernleihe
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    keine Fernleihe

     

    This report discusses the economic impact of the Coronavirus/COVID-19 crisis across industries, and countries. It also provides estimates of the potential global economic costs of COVID-19, and the GDP growth of different countries. The current draft includes estimates for 30 countries, under different scenarios.The report shows the economic effects of outbreak are currently being underestimated, due to over-reliance on historical comparisons with SARS, or the 2008/2009 financial crisis. At the date of this report, the duration of the lockdown, as well as how the recovery will take place is still unknown. That is why several scenarios are used. In a mild scenario, GDP growth would take a hit, ranging from 3-6% depending on the country. As a result, in the sample of 30 countries covered, we would see a median decline in GDP in 2020 of -2.8%. In other scenarios, GDP can fall more than 10%, and in some countries, more than 15%.Service-oriented economies will be particularly negatively affected, and have more jobs at risk. Countries like Greece, Portugal, and Spain that are more reliant on tourism (more than 15% of GDP) will be more affected by this crisis. This current crisis is generating spillover effects throughout supply chains. Therefore, countries highly dependent on foreign trade are more negatively affected. The results suggest that on average, each additional month of crisis costs 2.5-3% of global GDP

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Auflage/Ausgabe: Revised, April 13, 2020, version 2.0
    Schriftenreihe: IESE Business School working paper ; no. WP-1240-E
    Schlagworte: economic crisis; recession; coronavirus; COVID-19; financial crisis; financial impact
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  17. External financial dependence and firms' crisis performance across Europe
    Erschienen: January 11, 2021
    Verlag:  Universitätsbibliothek Tübingen, Tübingen

    How do financial market conditions affect real economic performance? Empirical investigations of this question have often relied on measures of external financial dependence (EFD) that are constructed using U.S. data and applied to other countries... mehr

    Zugang:
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 278
    keine Fernleihe
    Universitätsbibliothek der Eberhard Karls Universität
    keine Fernleihe

     

    How do financial market conditions affect real economic performance? Empirical investigations of this question have often relied on measures of external financial dependence (EFD) that are constructed using U.S. data and applied to other countries under the assumption of a stable industry ranking across countries. This paper exploits unique, comparable survey data from seven European countries to show that correlations of EFD across countries are weak, casting some doubt on this assumption. We then use the novel survey-based EFD index to show that the global financial crisis had a disproportionately negative impact on the real performance of financially dependent firms. Further investigations highlight the importance of supply chains in propagating the credit shock.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10900/111396
    hdl: 10419/229957
    Schriftenreihe: University of Tübingen Working Papers in Business and Economics ; no. 141
    Schlagworte: Finanzkrise; External financial dependence; financial constraints; financial crisis; firm performance
    Umfang: 1 Online-Ressource (18 Seiten)
  18. Does a financial crisis change a bank's exposure to risk?
    a difference-in-differences approach
    Autor*in: Mäkinen, Mikko
    Erschienen: 28.5.2021
    Verlag:  BOFIT, the Bank of Finland Institute for Emerging Economies, Helsinki

    Can a major financial crisis trigger changes in a bank's risk-taking behavior? Using the 2008 Global Financial Crisis as a quasi-natural experiment and a difference-in-differences approach, I examine whether the worst crisis-hit Russian banks - the... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 686
    keine Fernleihe

     

    Can a major financial crisis trigger changes in a bank's risk-taking behavior? Using the 2008 Global Financial Crisis as a quasi-natural experiment and a difference-in-differences approach, I examine whether the worst crisis-hit Russian banks - the banks that have strong incentives to behavior-altering changes - can decrease their post-crisis exposure to risk. A shift in risk-taking behavior by these banks indicates the learning hypothesis. The findings are mixed. The evidence concerning credit risk is inconsistent with the learning hypothesis. On the other hand, the evidence concerning solvency risk is consistent with the learning hypothesis and corroborates evidence from the Nordic countries (Berglund and M¨akinen, 2019). As such, bank learning from a financial crisis may not depend on the institutional context and the level of development of national financial market. Several robustness checks with alternative regression specifications are provided.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789523233775
    Weitere Identifier:
    hdl: 10419/240386
    Schriftenreihe: BOFIT discussion papers ; 2021, 8
    Schlagworte: financial crisis; bank learning; bank risk; Russian banks
    Umfang: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  19. Global financial cycles since 1880
    Erschienen: May 2020
    Verlag:  Bank of England, London

    Zugang:
    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 443
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Staff working paper / Bank of England ; no. 867
    Schlagworte: Financial cycles; financial crisis; global co-movement; dynamic factor models; time-varying parameters; macro-finance
    Umfang: 1 Online-Ressource (circa 48 Seiten), Illustrationen
  20. The S-curve
    understanding the dynamics of worldwide financial liberalization
    Erschienen: [2021]
    Verlag:  Federal Reserve Bank of Atlanta, Atlanta, GA

    Using a novel database of domestic financial reforms in 90 countries from 1973 to 2014, we document that global financial liberalization followed an S-curve path: reforms were slow and gradual in early periods, accelerated during the 1990s, and... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 253
    keine Fernleihe

     

    Using a novel database of domestic financial reforms in 90 countries from 1973 to 2014, we document that global financial liberalization followed an S-curve path: reforms were slow and gradual in early periods, accelerated during the 1990s, and slowed down after 2000. We estimate a learning model that explains these dynamics. Policymakers updated their beliefs about the growth effects of financial reforms by learning from their own and other countries' experiences. Positive growth surprises in advanced economies helped accelerate belief updating worldwide, leading to the global wave of financial liberalization in the 1990s. The 2008 financial crisis, however, caused significant belief reversals.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/244322
    Schriftenreihe: Working paper series / Federal Reserve Bank of Atlanta ; 2021, 19 (July 2021)
    Schlagworte: financial reforms; informational diffusion; cross-country learning; belief updating; S-curve evolution; political costs; economic growth; financial crisis
    Umfang: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  21. Two-sample testing for tail copulas with an application to equity indices
    Erschienen: 1 July 2021
    Verlag:  CentER, Center for Economic Research, Tilburg

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 37
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: Discussion paper / CentER, Center for Economic Research ; no. 2021, 017
    Schlagworte: Tail dependence; tail copula; two-sample testing; financial crisis; distribution-free testing; martingale transformation
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  22. A leverage-based measure of financial stability
    Erschienen: [2021]
    Verlag:  University of Southern Denmark, Department of Business and Economics, Odense, Denmark

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 571
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Discussion papers on business and economics ; no. 2021, 3
    Schlagworte: Leverage; financial crisis; financial stability; minimum market size for stability; MinMaSS; stability ratio; Long-Term Capital Management; LTCM
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  23. COVID-19 and employment in South Korea: trends and comparison with the 2008 Financial Crisis
    Erschienen: February 2021
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    We examine the impact of COVID-19 on employment in South Korea as of June 2020. To estimate the causal effect, we use two complementary methods. First, using individual-level data without residence information, we estimate the effects by controlling... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 4
    keine Fernleihe

     

    We examine the impact of COVID-19 on employment in South Korea as of June 2020. To estimate the causal effect, we use two complementary methods. First, using individual-level data without residence information, we estimate the effects by controlling for detailed characteristics of individuals. Second, using aggregate data without individual characteristics, we exploit the regional variation in the intensity of COVID-19 to measure the effects. We find that the COVID-19 pandemic decreased the employment rate by 0.82%p and increased the unemployment rate by 0.29%p. These estimated effects are 90%-140% larger than those of the 2008 Financial Crisis.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/232853
    Schriftenreihe: Discussion paper series / IZA ; no. 14101
    Schlagworte: COVID-19; financial crisis; unemployment; employment
    Umfang: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  24. The short- and long-run employment impact of COVID-19 through the effects of real and financial shocks on new firms
    Erschienen: 2020
    Verlag:  Banco de España, Madrid

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 470
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Documentos de trabajo / Banco de España, Eurosistema ; no. 2039
    Schlagworte: recessions; financial crisis; entrepreneurship; firm dynamics; coronavirus; COVID-19
    Umfang: 1 Online-Ressource (circa 48 Seiten), Illustrationen
  25. All you need is cash
    corporate cash holdings and investment after the global financial crisis
    Erschienen: April 2021
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis, while... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 63
    keine Fernleihe

     

    Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis, while cash-poor rivals reduced theirs. This gave cash-rich SMEs a competitive advantage during the recovery, resulting in a persistent and growing investment gap. The amplification effect was present for SMEs with both volatile and stable cash holdings and was particularly pronounced for younger and smaller firms. Competition dynamics and borrowing constraints seem to drive this amplification effect.

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/235423
    Schriftenreihe: CESifo working paper ; no. 9053 (2021)
    Schlagworte: SMEs; investment; cash holdings; financial crisis; misallocation
    Umfang: 1 Online-Ressource (circa 54 Seiten), Illustrationen