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You are looking at 1-20 of 43 items for:

International Finance x Financial Markets x clear all

Asset Prices and Exchange Rates

Anna Pavlova and Roberto Rigobon.

in The Review of Financial Studies

July 2007; p ublished online January 2007 .

Journal Article. Subjects: Economics; International Financial Markets; International Finance. 19601 words.

We study the implications of introducing demand shocks and trade in goods into an otherwise standard international asset pricing model. Trade in goods gives rise to an additional channel of...

Capital-Market Effects of Securities Regulation: Prior Conditions, Implementation, and Enforcement

Hans B. Christensen, Luzi Hail and Christian Leuz.

in The Review of Financial Studies

November 2016; p ublished online July 2016 .

Journal Article. Subjects: International Finance; International Financial Markets; Financial Regulation; Corporate Governance; Law and Economics; Accounting. 20691 words.

We examine the capital-market effects of changes in securities regulation in the European Union aimed at reducing market abuse and increasing transparency. To estimate causal effects for...

Collective Action Clauses for the Eurozone

Michael Bradley and Mitu Gulati.

in Review of Finance

October 2014; p ublished online December 2013 .

Journal Article. Subjects: National Budget, Deficit, and Debt; International Financial Markets; Economics; Contract Law; International Finance. 19942 words.

One of the primary policy initiatives instituted in response to the Eurozone sovereign debt crisis is a requirement that all Eurozone sovereign bonds issued after January 1 2013 include...

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The Costs of Sovereign Default: Evidence from the Stock Market

Sandro C. Andrade and Vidhi Chhaochharia.

in The Review of Financial Studies

May 2018; p ublished online January 2018 .

Journal Article. Subjects: Economics; International Financial Markets; International Finance. 18942 words.

Abstract

We use stock market data to test cross-sectional implications of theories of sovereign default and provide a market-based estimate of sovereign...

Counterpart funding requirements and the foreign aid procyclicality puzzle

Stéphane Pallage and Michel A. Robe.

in Oxford Review of Economic Policy

January 2015; p ublished online December 2015 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Economic Development; International Financial Markets; Prices, Business Fluctuations, and Cycles; International Finance. 10332 words.

Official development assistance is a key source of external finance in many developing countries. A striking feature of these aid flows is their positive correlation with business cycles in...

Currency Premia and Global Imbalances

Pasquale Della Corte, Steven J. Riddiough and Lucio Sarno.

in The Review of Financial Studies

August 2016; p ublished online June 2016 .

Journal Article. Subjects: International Finance; Economics; International Financial Markets. 16062 words.

We show that a global imbalance risk factor that captures the spread in countries’ external imbalances and their propensity to issue external liabilities in foreign currency explains the...

Czech Mate: Expropriation and Investor Protection in a Converging World

Mihir A. Desai and Alberto Moel.

in Review of Finance

March 2008; p ublished online January 2007 .

Journal Article. Subjects: International Factor Movements and International Business; International Finance; Macroeconomic Aspects of International Trade and Finance; International Financial Markets. 11110 words.

This paper examines the expropriation of a foreign investor by a local partner and the subsequent resolution of the case through international arbitration in favor of the investor. Despite...

Do Demand Curves for Currencies Slope Down? Evidence from the MSCI Global Index Change

Harald Hau, Massimo Massa and Joel Peress.

in The Review of Financial Studies

April 2010; p ublished online December 2009 .

Journal Article. Subjects: International Factor Movements and International Business; International Finance; Economics; International Financial Markets. 16998 words.

Traditional portfolio balance theory derives a downward sloping currency demand function from limited international asset substitutability. Historically, this theory enjoyed little...

Do Implicit Barriers Matter for Globalization?

Francesca Carrieri, Ines Chaieb and Vihang Errunza.

in The Review of Financial Studies

July 2013; p ublished online February 2013 .

Journal Article. Subjects: International Financial Markets; International Finance; Corporate Governance. 19927 words.

Market liberalization may not result in full market integration if implicit barriers are important. We test this proposition for investable and non-investable segments of twenty-two...

Do Market Efficiency Measures Yield Correct Inferences? A Comparison of Developed and Emerging Markets

John M. Griffin, Patrick J. Kelly and Federico Nardari.

in The Review of Financial Studies

August 2010; p ublished online July 2010 .

Journal Article. Subjects: International Finance; Economics; International Financial Markets. 23967 words.

Using data from 56 markets, we find that short-term reversal, post-earnings drift, and momentum strategies earn similar returns in emerging and developed markets. Variance ratios and market...

Does One Soros Make a Difference? A Theory of Currency Crises with Large and Small Traders

Giancarlo Corsetti, Amil Dasgupta, Stephen Morris and Hyun Song Shin.

in The Review of Economic Studies

January 2004; p ublished online January 2004 .

Journal Article. Subjects: International Financial Markets; Economics; International Finance. 11754 words.

Do large investors increase the vulnerability of a country to speculative attacks in the foreign exchange markets? To address this issue, we build a model of currency crises where a single...

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Downside Market Risk of Carry Trades

Victoria Dobrynskaya.

in Review of Finance

August 2014; p ublished online February 2014 .

Journal Article. Subjects: Economics; International Financial Markets; International Finance. 10550 words.

I propose a new factor—the global downside market factor—to explain high returns to carry trades. I show that carry trades have high downside market risk, i.e. they crash systematically in...

Estimating the Costs of International Equity Investments

Piet Sercu and Rosanne Vanpée.

in Review of Finance

December 2008; p ublished online August 2008 .

Journal Article. Subjects: Economics; International Financial Markets; International Finance. 15533 words.

Generalizing Cooper-Kaplanis (1994), we estimate implied costs that reconcile international portfolios with InCAPM predictions. Costs depend on home- and host-country characteristics and on...

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Excess Comovement in International Equity Markets: Evidence from Cross-border Mergers

Richard A. Brealey, Ian A. Cooper and Evi Kaplanis.

in The Review of Financial Studies

April 2010; p ublished online December 2009 .

Journal Article. Subjects: International Factor Movements and International Business; International Finance; Economics; International Financial Markets; Mergers and Acquisitions. 10007 words.

Using a large sample of cross-border mergers, we measure the effect of a change in location on systematic risk. When a target firm’s location moves, a large part of its systematic risk...

Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Depreciations

Mihir A. Desai, C. Fritz Foley and Kristin J. Forbes.

in The Review of Financial Studies

November 2008; p ublished online March 2007 .

Journal Article. Subjects: International Factor Movements and International Business; International Finance; International Financial Markets; Corporate Governance. 13324 words.

This article examines how financial constraints and product market exposures determine the response of multinational and local firms to sharp depreciations. U.S. multinational affiliates...

Financial Development: Maturing and Emerging Policy Issues

Augusto de la Torre, Juan Carlos Gozzi and Sergio L. Schmukler.

in The World Bank Research Observer

January 2007; p ublished online May 2007 .

Journal Article. Subjects: Financial Institutions and Services; Financial Regulation; International Financial Markets; International Finance. 12629 words.

In recent decades, financial development policies in emerging market economies have been shaped by a fundamental shift toward market-based financial systems and the lessons from financial...

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From global imbalances to global reorganisations

Robert Wade.

in Cambridge Journal of Economics

July 2009; p ublished online July 2009 .

Journal Article. Subjects: International Economics; Microeconomics; Money and Interest Rates; International Relations and International Political Economy; Monetary Policy, Central Banking, and the Supply of Money and Credit; International Finance; International Financial Markets; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 13352 words.

The world feels itself to be in transition, but to what is unclear. Will the liberal market model retain its normative primacy once some semblance of normality is restored, or will other...

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Globalization and Risk Sharing

Fernando Broner and Jaume Ventura.

in The Review of Economic Studies

January 2011; p ublished online January 2011 .

Journal Article. Subjects: International Trade; International Financial Markets; International Finance. 17257 words.

We study the effects of globalization on risk sharing and welfare. Like the previous literature, we assume that governments cannot commit to enforce the repayment of debts owed by their...

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Government Intervention and Arbitrage

Paolo Pasquariello.

in The Review of Financial Studies

September 2018; p ublished online July 2017 .

Journal Article. Subjects: International Finance; Economics; International Financial Markets. 32983 words.

Abstract

Direct government intervention in a market may induce violations of the law of one price in other, arbitrage-related markets. I show that a government...

Implications of Incomplete Markets for International Economies

Gurdip Bakshi, Mario Cerrato and John Crosby.

in The Review of Financial Studies

October 2018; p ublished online October 2017 .

Journal Article. Subjects: International Finance; Economics; International Financial Markets. 22667 words.

Abstract

We develop a restriction that precludes implausibly high reward-for-risk in incomplete international economies to consider a theoretical problem that...