Topic Financial Markets

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919 results, from 821
  • Externe Monographien

    Informed Capital in a Hostile Environment: The Case of Relational Investors in Germany

    Freiberg: Technische Universität Bergakademie, 2006, 23 S.
    (Freiberg Working Papers / Technical University Bergakademie Freiberg, Faculty of Economics and Business Administration ; 03/2006)
    | Dorothea Schäfer, Dirk Schilder
  • Diskussionspapiere 624 / 2006

    What Drives Heterogeneity in Foreign Exchange Rate Expectations: Deep Insights from a New Survey

    Foreign exchange rate expectations play a central role in virtually all monetary models for the open economy. Therefore, it is extremely important to gain empirical insights into the expectations formation process. In this paper, we use a unique disaggregated data set to model the expectations of the Yen/USD exchange rate of about 50 leading foreign exchange rate professionals. The survey includes ...

    2006| Christian Dreger, Georg Stadtmann
  • Diskussionspapiere 626 / 2006

    Political Instability and the August 1998 Ruble Crisis

    The main objective of this study is to highlight the importance of political instability, defined as frequent changes in and of government, in undermining the Russian exchange rate based stabilization program of the 1990s. The empirical evidence supports the significance of political instability along with economic fundamentals in determining Russian real effective exchange rate and exchange market ...

    2006| Tatiana Fic, Omar F. Saqib
  • Diskussionspapiere 635 / 2006

    The Effects of Short-Term Liabilities on Profitability: The Case of Germany

    Using data from Germany this paper examines the direct effect of non-financial firms' use of short-term versus long-term liabilities. We develop a structural model of a firm's value maximization problem that predicts that profitability of the firm will change if firms alter their use of short-term versus long-term liabilities. We find that firms that rely more heavily on short-term liabilities are ...

    2006| Christopher F. Baum, Dorothea Schäfer, Oleksandr Talavera
  • Refereed essays Web of Science

    Fiscal Federalism in Russia: Theory, Comparisons, Evaluations

    Russia's system of fiscal federalism is examined and evaluated. Current theories of fiscal federalism provide criteria for evaluating such systems. Developments in OECD countries are examined to provide comparative perspectives. Data from Russia's Goskomstat and the Ministry of Finance, which provide an overview of Russia's regional economic characteristics, are used to apply the selected evaluation ...

    In: Post-Soviet Affairs 22 (2006), 3, S. 189-224 | Ulrich Thießen
  • Diskussionspapiere 637 / 2006

    Macroeconomic Uncertainty and Bank Lending: The Case of Ukraine

    Our study investigates the link between bank lending behavior and macroeconomic uncertainty. We develop a dynamic model of a bank's value maximization that results in a negative relationship between loan to capital ratio and macroeconomic uncertainty. This proposition is tested using a panel of Ukrainian banks collected from NBU and covering the period 2003q1-2005q3. The results indicate that banks ...

    2006| Oleksandr Talavera, Andriy Tsapin, Oleksandr Zholud
  • Refereed essays Web of Science

    Relationship Banking and SMEs: A Theoretical Analysis

    Reliable information on small- and medium-sized enterprises (SMEs) is rare and costly for financial intermediaries. Therefore relationship banking is often considered as the appropriate lending technique. In this paper we offer a theoretical model to analyze relationship banking and the pricing behavior of banks in a Bertrand competition framework with monitoring costs. We show that the lack of reliable ...

    In: Small Business Economics 27 (2006), 2-3, S. 127-137 | Timo Baas, Mechthild Schrooten
  • Externe Monographien

    The Effects of Short-Term Liabilities on Profitability: The Case of Germany

    Chestnut Hill, Mass.: Boston College, Department of Economics, 2006, 19 S.
    (Boston College Working Papers in Economics ; 636)
    | Christopher F. Baum, Dorothea Schäfer, Oleksandr Talavera
  • Externe Monographien

    Long-Run Money Demand in the New EU Member States with Exchange Rate Effects

    Frankfurt am Main: ECB, 2006, 31 S.
    (Working Paper Series / European Central Bank ; 628)
    | Christian Dreger, Hans-Eggert Reimers, Barbara Roffia
  • Weitere externe Aufsätze

    Equilibrium Exchange Rates in Transition: The Tradable Price-Based Real Appreciation and Estimation Uncertainty

    In: Paul J. J. Welfens, Anna Wziatek-Kubia , Structural Change and Exchange Rate Dynamics
    Heidelberg: Springer
    S. 205-239
    | Bálazs Égert, Kisten Lommatzsch
919 results, from 821
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