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Resource Mobilisation and Islamic Charity-Giving in Indonesia: Evidence from Low-Income Households
This paper examines low-income households’ perspective on regular charity-giving behaviour in Indonesia. Theory of social production function and the...
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More punishment, less default?
The extent of lender recourse following contractual default varies greatly across economies. Intuitively, one would expect these differences to...
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A financial stability index for Colombia
The imbalances of the financial systems have showed the vast economic and social costs generated by financial instability. As a consequence, the...
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Rating systems, procyclicality and Basel II: an evaluation in a general equilibrium framework
The introduction of Basel II has raised concerns about the potential impact of risk-sensitive capital requirements on the business cycle. Several...
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Entrepreneurship and firm heterogeneity with limited enforcement
The presence of credit constraints can shape the entry, growth, and size distribution of firms. In this paper, I consider the optimal contract...
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Planungstechniken bei Unsicherheit
In der Theorie der Investitionsentscheidungen ist die Unsicherheit über die Zukunft zunächst vernachlässigt worden. In Kap. IV wurde ein Überblick...
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Banks, markets, and efficiency
A competitive financial system can help reduce banks’ monopoly power and the associated inefficiencies. However, according to Diamond (J Polit Econ...
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An equilibrium approach to financial stability analysis: the Colombian case
This paper studies in detail the performance of a general equilibrium model of the financial system when applied to the case of Colombia. This model...
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Financial distress, bankruptcy law and the business cycle
This paper explores the business cycle implications of financial distress and bankruptcy law. We find that due to the presence of financial...
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Macroeconomic Conditions, Firm Characteristics, and Credit Spreads
We study a structural model that allows us to examine how credit spreads are affected by the interaction of macroeconomic conditions and firm...
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ARDL Approach to the Exchange Rate Overshooting in Taiwan
This paper re-examines Dornbusch’s (1976) sticky-price monetary model to exchange rate determination by employing both conventional Johansen’s (1988,...
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Darstellung und methodenkritische Beurteilung von Indikatoransätzen und statistischen / versicherungsmathematischen Ansätzen
Indikatoren können im Zusammenhang mit Operational Risk prinzipiell sowohl zur Messung, als auch zur Steuerung des Operational Risk herangezogen...
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Bank Exposure to Interest Rate Risks During Financial Liberalization: Evidence from South Korea
This study documents the changing impact of long and short term interest rate risks on the equity prices of banks in South Korea during the process...
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Determinants of stock market volatility and risk premia
We show the dynamics of diverse beliefs is the primary propagation mechanism of volatility in asset markets. Hence, we treat the characteristics of...
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Stock Price Distributions and News: Evidence from Index Options
We estimate the shape of the distribution of stock prices using data from options on the underlying asset, and test whether this distribution is...
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Asset Returns and Inflation in Response to Supply, Monetary, and Fiscal Disturbances
This paper identifies sources of asset returns (stock returns and interest rates) and inflation relations. We find that the relation between asset...
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Modeling Asset Premiums and the Riskfree Rate in General Equilibrium CCAPM
We elaborate on the consumption capital asset pricing model (CCAPM) to reveal a set of underlying forces that determine asset returns. We use...
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Planungstechniken bei Unsicherheit
In der Theorie der Investitionsentscheidungen ist die Unsicherheit über die Zukunft zunächst vernachlässigt worden. In Kapitel IV wurde ein Überblick...
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Re-Examining Variance-Bounds Tests for Asset Prices
The hypothesis of market efficiency is typically rejected by standard variance-bounds tests which assume stationary asset prices. A number of...
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Planungstechniken bei Unsicherheit
In der Theorie der Investitionsentscheidungen ist die Unsicherheit über die Zukunft zunächst vernachlässigt worden. In Kapitel IV wurde ein Überblick...