Results 11 to 20 of about 82,039 (45)
Financial Crises, Dollarization, and Lending of Last Resort in Open Economies
The American Economic Review, 2020 Foreign currency debt is considered a source of financial instability in emerging markets. We propose a theory in which liability dollarization arises from an insurance motive of domestic savers.
Luigi Bocola, G. Lorenzoni
semanticscholar +1 more source
Some Borrowers Are More Equal than Others: Bank Funding Shocks and Credit Reallocation*
Review of Finance, 2019 This paper provides evidence on the strategic lending decisions made by banks facing a negative funding shock. Using bank-firm level credit data, we show that banks reallocate credit within their loan portfolio in at least three different ways.
O. D. Jonghe +4 more
semanticscholar +1 more source
Feedbacks: Financial Markets and Economic Activity
The American Economic Review, 2019 Is credit expansion a sign of desirable financial deepening or the prelude to an inevitable bust? We study this question in modern US data using a structural VAR model of 10 monthly frequency variables, identified by heteroskedasticity.
Markus K. Brunnermeier +3 more
semanticscholar +1 more source
Business Research QuarterlyMany firms may successfully navigate an organizational crisis, but may find themselves entangled in another soon after. Building on a resource-dependence perspective, this study evaluates how certain investor characteristics foster organizational ...
Elena Mellado-Garcia +2 more
semanticscholar +1 more source
INTERNATIONAL AGGREGATE RISK: EFFECTS ON FINANCIAL STABILITY
Economics LettersThe increasing interconnectedness of financial and economic systems has led to the emergence of global risks that can impact financial stability. In this paper, we explore how aggregate risk on a global scale can affect the stability of financial systems.
M. Lucchetta
semanticscholar +1 more source
The European Renewable Energy Sector in Calm and Turmoil Periods: The Key Role of Sovereign Risk
Energy JournalThis paper explores the comparative role of sovereign default risk and several high-frequency macrofinancial indicators that may explain the drop in European renewable energy stocks observed during the 2008 financial crisis and the European debt crisis ...
Karine Constant +3 more
semanticscholar +1 more source
Liquidity Hoarding and Interbank Market Spreads: The Role of Counterparty Risk
Social Science Research Network, 2009 We study the functioning and possible breakdown of the interbank market due to asymmetric information about counterparty risk. We allow for privately observed shocks to the distribution of asset risk across banks after the initial portfolio of liquid and
Florian Heider +2 more
semanticscholar +1 more source
Robust testing for explosive behavior with strongly dependent errors
Journal of EconometricsA heteroskedasticity-autocorrelation robust (HAR) test statistic is proposed to test for the presence of explosive roots in financial or real asset prices when the equation errors are strongly dependent.
Y. Lui, Peter C. B. Phillips, Jun Yu
semanticscholar +1 more source
, 2016 We develop a quantitative equilibrium model of financial crises to assess the interaction between ex post interventions in credit markets and the buildup of risk ex ante. During a systemic crisis, bailouts relax balance sheet constraints and mitigate the
Javier Bianchi
semanticscholar +1 more source
Exploring the Impact of the Cash Cards on Taiwan’s Dual-Card Crisis under the Information Asymmetry
Bulletin of Applied EconomicsThe purpose of the article was to explore the impact of the cash cards on Taiwan’s dual-card crisis under the information asymmetry. Accordingly, the article was based on the quality analysis primarily combined with the method of the document analysis ...
Chih-Hsiung Chang
semanticscholar +1 more source