scholarly journals Economic Activity and Credit Market Linkages: New Evidence From Italy

2017 ◽  
Vol 46 (3) ◽  
pp. 491-526
Author(s):  
Vincenzo Chiorazzo ◽  
Vincenzo D'Apice ◽  
Pierluigi Morelli ◽  
Giovanni Walter Puopolo
Keyword(s):  
Economic Activity ◽  
Credit Market ◽  
Market Linkages ◽  
New Evidence

Macroeconomic Factors in Oil Futures Markets

2019 ◽  
Vol 65 (9) ◽  
pp. 4407-4421 ◽  
Author(s):  
Davidson Heath
Keyword(s):  
Economic Activity ◽  
Futures Markets ◽  
Price Shocks ◽  
Productivity Shocks ◽  
Macroeconomic Factors ◽  
Oil Futures ◽  
Risk Premiums ◽  
Crude Oil Futures ◽  
Future Consumption ◽  
New Evidence

This paper documents new evidence against perfect risk spanning in crude oil futures, and develops an affine futures pricing model that allows for unspanned macroeconomic factors. Compared to previous estimates, the oil spot premium is more volatile and strongly procyclical, which suggests that previous models miss the majority of variation in oil risk premiums. The estimates reveal a dynamic two-way relationship between oil futures and economic activity: productivity shocks are associated with higher oil prices, while oil price shocks affect economic activity by lowering future consumption spending. Unspanned macro factors also affect the valuation of real options. This paper was accepted by Karl Diether, finance.

Stock and currency market linkages: New evidence from realized spillovers in higher moments

2016 ◽  
Vol 42 ◽  
pp. 167-185 ◽  
Author(s):  
Hung Xuan Do ◽  
Robert Brooks ◽  
Sirimon Treepongkaruna ◽  
Eliza Wu
Keyword(s):  
Higher Moments ◽  
Market Linkages ◽  
Currency Market ◽  
New Evidence

scholarly journals ECONOMIC ACTIVITY, CREDIT MARKET CONDITIONS, AND THE HOUSING MARKET

2017 ◽  
Vol 22 (7) ◽  
pp. 1769-1789 ◽  
Author(s):  
Luca Agnello ◽  
Vitor Castro ◽  
Ricardo M. Sousa
Keyword(s):  
Housing Market ◽  
Economic Activity ◽  
Hazard Function ◽  
Credit Market ◽  
European Countries ◽  
Market Conditions ◽  
Industrial Countries ◽  
Housing Boom ◽  
Main Determinants ◽  
Using Data

In this paper, we assess the characteristics of the housing market and its main determinants. Using data for 20 industrial countries over the period 1970Q1–2012Q2 and a discrete-time Weibull duration model, we find that the likelihood of the end of a housing boom or a housing bust increases over time. Additionally, we show that the different phases of the housing market cycle are strongly dependent on the economic activity, but credit market conditions are particularly important in the case of housing booms. The empirical findings also indicate that although housing booms have similar lengths in European and non-European countries, housing busts are typically shorter in European countries. The use of a more flexible specification for the hazard function that is based on cubic splines suggests that it evolves in a nonlinear way. From a policy perspective, our study can be useful for predicting the timing and the length of housing boom–bust cycles. Moreover, it highlights the importance of monetary policy by influencing lending rates and affecting the likelihood of occurrence of housing booms.

scholarly journals Are Banks Really Special? New Evidence from the FDIC-Induced Failure of Healthy Banks

2005 ◽  
Vol 95 (5) ◽  
pp. 1712-1730 ◽  
Author(s):  
Adam B Ashcraft
Keyword(s):  
Economic Activity ◽  
Bank Failures ◽  
Negative Effects ◽  
New Evidence

Recent bank failures are followed by significant and permanent negative declines in real county income. These declines are larger for small failures than for large failures per dollar of assets, are larger for bank failures than thrift failures, and are larger for bank closures than assisted mergers. More interestingly, the failure of even healthy banks has significant and permanent negative effects on economic activity.

scholarly journals Legal Instruments to Support Borrowers (Consumers and Entrepreneurs) in Connection with the COVID-19 Pandemic in Poland, and Vietnam

2021 ◽  
Vol 26 (4) ◽  
pp. 179-212
Author(s):  
Edyta Rutkowska-Tomaszewska ◽  
Marta Stanisławska ◽  
Hien Thuc Trinh
Keyword(s):  
Adverse Effects ◽  
Cultural Differences ◽  
Economic Activity ◽  
Credit Market ◽  
Legal Regulations ◽  
Legal Basis ◽  
Gainful Employment ◽  
Significant Challenge ◽  
Legal Nature ◽  
Domestic Credit

Abstract The COVID-19 pandemic restrictions introduced in 2020 in many countries on economic activity and gainful employment have in many cases, reduced the incomes of individual households. As a result, the actual ability to meet credit obligations has declined, particularly for those who have lost their jobs or livelihoods. The COVID-19 pandemic has become a significant challenge for economies, national authorities, and entrepreneurs, including borrowers. This article aims to analyse the legal regulations in Poland, and Vietnam, introducing instruments to support borrowers, consumers, and entrepreneurs, in connection with the COVID-19 pandemic. The authors will present the legal basis for the instruments to support borrowers provided in the studied countries, indicate their legal nature, forms, and conditions of using them. They also compare legal solutions introduced in connection with the pandemic aimed at mitigating its adverse effects on borrowers in Poland, and Vietnam, to indicate whether cultural differences and differences in legal systems, as well as individual approaches to the domestic credit market, affected the choice of legal instruments for supporting borrowers in connection with the COVID-19 pandemic, or not.

Sign in / Sign up

Export Citation Format

Share Document