Understanding International Portfolio Diversification and Turnover Rates [PDF]
This paper argues that fixed trading costs in international asset markets help explain equity home bias. This contrasts with explanations prevalent in international macroeconomics, which tend to be based on trading frictions instead in international ...
Amir Amadi, Paul Bergin
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Foreign competition and disintermediation: no threat to the German banking system?
PSL Quarterly Review, 2000 The German financial system is characterized by low degrees of penetration by foreign commercial banks and of (bank) disintermediation compared to, for instance, the United States.
Claudia M. Buch, Stefan M. Golder
doaj
The Yield Curve, Recessions and the Credibility of the Monetary Regime: Long Run Evidence 1875-1997 [PDF]
This paper brings historical evidence to bear on the stylized fact that the yield curve predicts future growth. The spread between corporate bonds and commercial paper reliably predicts future growth over the period 1875-1997.
Joseph G Haubrich, Michael D. Bordo
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Portfolio Diversification and Value at Risk Under Thick-Tailedness [PDF]
We present a unified approach to value at risk analysis under heavy-tailedness using new majorization theory for linear combinations of thick-tailed random variables that we develop.
Rustam Ibragimov
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Convergence Hypotheses are Ill-Posed:Non-stationarity of Cross-Country Income Distribution D [PDF]
The recent literature on “convergence� of cross-country per capita incomes has been dominated by two competing hypotheses: “global convergence� and “club-convergence�.
Deockhyun Ryu, Mahmoud A. El-Gamal
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Frontiers of Mathematical Finance41 pages, 32 figures, 3 tables, published ...
Chen, Wei-Ru +2 more
openaire +2 more sources
Productivity to the Rescue: Review Article on the McKinsey Global Institute Report "Global Growth: Can Productivity Save the Day in an Aging World?" [PDF]
International Productivity Monitor, 2016 This review article provides a synthesis and critical assessment of the McKinsey Global Institute (MGI) report Global Growth: Can Productivity Save the Day in an Aging World? The key stylized fact that motivates the report is the expected fall-off in GDP
Andrew Sharpe
doaj
Selfish-biased conditional cooperation: On the decline of contributions in repeated public goods experiments [PDF]
The recent literature suggests that people have social preferences with a self-serving bias. Our data analysis reveals that the stylized fact of declining cooperation in repeated public goods experiments results from this bias and adaptation.experimental
Javier Perote +3 more
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When credit bites back: leverage, business cycles, and crises [PDF]
This paper studies the role of leverage in the business cycle. Based on a study of nearly 200 recession episodes in 14 advanced countries between 1870 and 2008, we document a new stylized fact of the modern business cycle: more credit-intensive booms ...
Alan M. Taylor +2 more
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Return rates of European graduate students in the US : How many and who return, and when ?
Belgeo, 2010 Although the EU has introduced various policies to foster student mobility within Europe, it remains a ‘stylized fact’ that the majority of student mobility is geared towards the US.
Linda Van Bouwel
doaj +1 more source