Import to invest: Impact of cultural goods on cross-border mergers and acquisitions [0.03%]
进口以求投资——文化产品对跨国并购的影响
Chang Li,Lianxing Yang
Chang Li
Existing studies have demonstrated the necessities of formal institutions and negativity of cultural distance in international investments. Surprisingly, China's exponential increase of cross-border mergers and acquisitions (M&As) and its l...
The People's bank of China's response to the coronavirus pandemic: A quantitative assessment [0.03%]
中国央行应对新冠病毒疫情的措施：量化评估
Michael Funke,Andrew Tsang
Michael Funke
The People's Bank of China (PBoC) has implemented numerous measures to cushion the impacts of the COVID-19 health crisis on the Chinese economy. Since the current monetary policy framework features a multi-instrument mix of liquidity tools ...
Is market liquidity less resilient after the financial crisis? Evidence for US Treasuries [0.03%]
金融危机之后市场的流动性恢复能力是否减弱？来自于美国国债的证据
Carmen Broto,Matías Lamas
Carmen Broto
Understanding market liquidity resilience, i.e. the capacity of liquidity to absorb shocks, of United States Treasuries is crucial from a financial stability standpoint. The conventional resilience measure has limitations due to the use of ...
Household financial vulnerability in Indonesia: Measurement and determinants [0.03%]
印尼家庭金融脆弱性：测量与决定因素
Sri Noerhidajati,Agung Bayu Purwoko,Hesti Werdaningtyas et al.
Sri Noerhidajati et al.
This study assesses the level of financial vulnerability of Indonesian households using data from the Household's Balance Sheet Survey (Survei Neraca Rumah Tangga/SNRT) 2016 and 2017. The SNRT are micro-unit of household data that contains ...
The static and dynamic connectedness of environmental, social, and governance investments: International evidence [0.03%]
环境、社会和治理投资的静态与动态关联性：国际证据
Zaghum Umar,Dimitris Kenourgios,Sypros Papathanasiou
Zaghum Umar
We investigate the connectedness of the most significant global equity indices that comprise companies with the highest environmental, social, and governance (ESG) performance. Motivated by the rapid growth of socially responsible investing...
Da Zhao,Yifan Chen,Jim H Shen
Da Zhao
By exploiting variation both in mortgage payoffs and mortgage interest-rate resets, we find that a decline in mortgage payments induces a significant increase in nondurable goods spending, even when households have substantial amounts of li...
Samuel Ouzan
Samuel Ouzan
This study proposes a rational expectation equilibrium model of stock market crashes with information asymmetry and loss averse speculators. We obtain a state-dependent linear optimal trading strategy, which makes the equilibrium price trac...
What drives cross-country differences in export variety? A bilateral panel approach [0.03%]
什么导致了国家间出口品种差异？一种双边面板分析方法
Aleksandra Parteka
Aleksandra Parteka
A worldwide event like the 2020 Coronavirus outbreak can only reinforce the interest in modelling trade diversification as a key factor in countries' vulnerability to external shocks. This paper adopts a detailed relative framework to study...
Khandokar Istiak,Apostolos Serletis
Khandokar Istiak
Using mostly theoretical models and traditional risk/uncertainty measures (VIX index, panic, precaution, scary bad news, etc.), the current literature tries to clarify the risk/uncertainty-deleveraging pattern. The findings are not sufficie...
Volatility transmission between oil prices and banks' stock prices as a new source of instability: Lessons from the United States experience [0.03%]
油价与银行股价之间的波动传递作为不稳定性的新来源：来自美国的经验教训
Yao Axel Ehouman
Yao Axel Ehouman
This paper examines whether American banks' exposure to the oil industry could lead to instability in both oil and financial markets. To address this issue, we investigate volatility spillovers between oil prices and the stock prices of the...