Thema Finanzmärkte

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600 Ergebnisse, ab 571
  • Diskussionspapiere 1279 / 2013

    Long Memory in the Ukrainian Stock Market

    This paper examines the dynamics of stock prices in Ukraine by estimating the degree of persistence of the PFTS stock market index. Using long memory techniques we show that the log prices series is I(d) with d slightly above 1, implying that returns are characterised by a small degree of long memory and thus are predictable using historical data. Moreover, their volatility, measured as the absolute ...

    2013| Guglielmo Maria Caporale, Luis A. Gil-Alana
  • DIW Wochenbericht 8 / 2013

    Nachhaltige Finanzmärkte: Finanztransaktionssteuer und hohe Eigenkapitalpuffer sind unverzichtbar

    Nachhaltigkeit der Finanzmärkte ist eine Forderung, die erst in allerjüngster Zeit auf der wirtschaftspolitischen Agenda aufgetaucht ist. Hingegen ist die Stabilität des Finanzsystems ein seit Jahrzehnten angestrebtes Ziel. Das Verhältnis von Nachhaltigkeit und Stabilität ist indes noch ungeklärt. Angelehnt an das im Umweltbereich geltende Leitbild der Nachhaltigkeit werden hier Anforderungen an nachhaltige ...

    2013| Dorothea Schäfer
  • DIW Wochenbericht 8 / 2013

    Ein Finanzsystem muss von selbst zur Stabilität zurückfinden: Sieben Fragen an Dorothea Schäfer

    2013
  • DIW Wochenbericht 7 / 2013

    Monte Paschi spricht nicht gegen die EZB-Aufsicht über europäische Großbanken: Kommentar

    2013| Dorothea Schäfer
  • Vierteljahrshefte zur Wirtschaftsforschung 4 / 2013

    Nachhaltige europäische Konsolidierungspolitik - Chancen und Herausforderungen: Editorial

    2013| Dorothea Schäfer, Willi Semmler, Brigitte Young
  • Nicht-referierte Aufsätze

    Die notwendige Neuordnung

    In: Berliner Republik (2013), 2, S. 43-45 | Dorothea Schäfer
  • Diskussionspapiere 1333 / 2013

    Credit Rating Agency Announcements and the Eurozone Sovereign Debt Crisis

    This paper studies the impact of credit rating agency (CRA) announcements on the value of the Euro and the yields of French, Italian, German and Spanish long-term sovereign bonds during the culmination of the Eurozone debt crisis in 2011-2012. The employed GARCH models show that CRA downgrade announcements negatively affected the value of the Euro currency and also increased its volatility. Downgrading ...

    2013| Christopher F. Baum, Margarita Karpava, Dorothea Schäfer, Andreas Stephan
  • Referierte Aufsätze Web of Science

    Asset Prices, News Shocks, and the Trade Balance

    We analyze the relationship between asset prices and the trade balance estimating a Bayesian VAR for a broad set of 38 industrialized and emerging market countries. To derive model-based identifying restrictions, we model asset price shocks as news shocks about future productivity in a two-country dynamic stochastic general equilibrium model. Such shocks are found to exert sizable effects on the trade ...

    In: Journal of Money, Credit and Banking 45 (2013), 7, S. 1211-1251 | Marcel Fratzscher, Roland Straub
  • Externe Monographien

    Granularity in Banking and Growth: Does Financial Openness Matter?

    We explore the impact of large banks and of financial openness for aggregate growth. Large banks matter because of granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank-level do not cancel out in the aggregate but can affect macroeconomic outcomes. Financial openness may affect GDP growth in and of itself, and it may also influence ...

    München: CESifo, 2013, 42 S.
    (CESifo Working Papers ; 4356)
    | Franziska Bremus, Claudia M. Buch
  • DIW Economic Bulletin 6 / 2013

    Implicit State Guarantees Exacerbate Problem: Separated Banking System Alone Not a Solution

    Many banks are now too big, complex, and closely interconnected to be liquidated. When they run into difficulties, they threaten the entire financial system of their economic area. Five years of financial crisis have not alleviated but exacerbated this problem. The cost of stabilizing banks is enormous, posing serious challenges to the states affected. In addition, such state guarantees create dangerously ...

    2013| Benjamin Klaus, Dorothea Schäfer
600 Ergebnisse, ab 571
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