Results 221 to 230 of about 463,352 (288)

The expected inflation risk premium in the U.S. stock market

Journal of Financial Research, EarlyView.
Abstract This article studies how expected inflation risk affects asset prices. We propose an ex‐ante, tradable proxy for this risk, derived from the term spread of gold futures prices. Using cross‐sectional and time series asset pricing tests, we show how an increase in expected inflation risk lowers contemporaneous prices and raises equity returns ...
Pascal Letourneau, Gabriel J. Power, Garrett C. C. Smith   +2 more
wiley   +1 more source

Real Effects of Exchange Rate Depreciation: The Roles of Bank Loan Supply and Interbank Markets

Journal of Money, Credit and Banking, EarlyView.
Abstract Using matched bank–firm‐level data and estimating difference‐in‐differences regressions around the 2014 depreciation of the euro, we show that exchange rate depreciations can lead to higher loan supply by raising banks' net worth. We focus on a new channel, interbank lending from large banks with high net dollar exposure to small banks without
THORSTEN BECK, PETER BEDNAREK, DANIEL TE KAAT, NATALJA VON WESTERNHAGEN   +3 more
wiley   +1 more source

Bacteriophage-driven DNA inversions shape bacterial functionality and long-term co-existence in <i>Bacteroides fragilis</i>. [PDF]

Gut Microbes
Carasso S, Keshet-David R, Zhang J, Hajjo H, Kadosh-Kariti D, Gefen T, Geva-Zatorsky N.   +6 more
europepmc   +1 more source

FX Interventions and Capital‐Constrained Banks: Evidence from USD/ILS Spot, Forward, and Option Markets

Journal of Money, Credit and Banking, EarlyView.
Abstract Using confidential daily data, we examine the Bank of Israel's foreign exchange interventions from 2013 to 2019. We find that a 1 billion U.S. dollars (USD) purchase leads to a 0.82% depreciation of the Israeli Shekel (ILS)–a strong effect compared to other studies.
MARKUS HERTRICH, DANIEL NATHAN
wiley   +1 more source

Thermal bottlenecks constrain early-life survival of native fish in regulated rivers. [PDF]

Sci Adv
Arai K, Ryan RE, Daniels M, Willmes M, Whitman GE, Thacher LM, Matsuda N, Bell EA, McKeegan KD, Jeffres CA, Johnson RC.   +10 more
europepmc   +1 more source

Another Look at the (Ir)Relevance of Long‐Run Risks for Equity Risk Premia

Journal of Money, Credit and Banking, EarlyView.
Abstract I investigate the empirical asset pricing implications of a three‐factor macro model that extends the baseline consumption model Consumption Capital Asset Pricing Model (CCAPM) by adding the innovations in expected long‐run consumption growth (consumption growth news) and expected long‐run consumption variance (variance news) as risk factors ...
PAULO MAIO
wiley   +1 more source

A Bertrand model with Brownian motion and behavioral errors. [PDF]

Sci Rep
Gao B, Gao X, He S.
europepmc   +1 more source

EU ETS Market Expectations and Rational Bubbles

Journal of Money, Credit and Banking, EarlyView.
Abstract The European Union Emissions Trading System (EU ETS) experienced sharp allowance price increases from 2018 onward, prompting claims that rational bubbles were driving the surge. We reassess this hypothesis using expectations based on futures prices.
CHRISTOPH WEGENER, ROBINSON KRUSE‐BECHER, TONY KLEIN   +2 more
wiley   +1 more source

Quantitative Tightening Around the Globe: What Have We Learned?

Journal of Money, Credit and Banking, EarlyView.
Abstract We use recent cross‐country experiences to assess the impact of shrinking central bank balance sheets through quantitative tightening (QT). QT announcements increase government bond yields, steepening the yield curve and potentially signaling a greater commitment to raising policy interest rates, but have more limited effects on most other ...
WENXIN DU, KRISTIN FORBES, MATTHEW LUZZETTI   +2 more
wiley   +1 more source

Random Neural Networks for Rough Volatility. [PDF]

Appl Math Optim
Jacquier A, Žurič Ž.
europepmc   +1 more source