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The Centre for Economic Policy Research's Blog

Distilling the Macroeconomic News Flow (CEPR DP9360)

February 25, 2013 Comments (0)

Distilling the Macroeconomic News Flow Author(s): Alessandro Beber, Michael Brandt, Maurizio Luisi CEPR Discussion Paper Number 9360 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE) Date of Publication: 24/02/2013 Keyword(s): disagreement., macroeconomic news, nowcasting JEL(s): G12 Abstract: We propose a simple cross-sectional technique to extract daily latent factors from economic news releases available at...

Skewness Risk Premium: Theory and Empirical Evidence (CEPR DP9349)

February 19, 2013 Comments (0)

Skewness Risk Premium: Theory and Empirical Evidence Author(s): Thorsten Lehnert, Yuehao Lin, Christian C Wolff CEPR Discussion Paper Number 9349 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE) Date of Publication: 17/02/2013 Keyword(s): asset pricing, central moments, investor sentiment, option markets, risk aversion, skewness risk premium JEL(s): C15, G12 Abstract: Using an equilibrium asset and option pricing...

Capital, Trust and Competitiveness in the Banking Sector (CEPR DP9348)

February 19, 2013 Comments (0)

Capital, Trust and Competitiveness in the Banking Sector Author(s): Thomas Gehrig CEPR Discussion Paper Number 9348 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE), Public Policy (PP) Date of Publication: 17/02/2013 Keyword(s): bank capital, Basel process of capital regulation, trust JEL(s): E58, G01, G21, H63 Abstract: This note critically assesses the Basel reform process of capital regulation. It highlights...

Risk tolerance and entrepreneurship (CEPR DP9339)

February 11, 2013 Comments (0)

Risk tolerance and entrepreneurship Author(s): Hans K Hvide, Georgios Panos CEPR Discussion Paper Number 9339 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE), Industrial Organization (IO), Labour Economics (LE) Date of Publication: 10/02/2013 Keyword(s): entrepreneurial entry, entrepreneurial performance, firm entry, firm performance, firm productivity, firm survival, overconfidence, risk aversion, stock market...

Finance, Governments, and Trade (CEPR DP9338)

February 11, 2013 Comments (0)

Finance, Governments, and Trade Author(s): Giuseppe Bertola, Anna Lo Prete CEPR Discussion Paper Number 9338 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE), International Macroeconomics (IM), Public Policy (PP) Date of Publication: 10/02/2013 Keyword(s): financial reforms, government size, openness, private credit JEL(s): E60, F13, G18 Abstract: We study how financial transactions may respond to exogenous...

Financial Crises: Explanations, Types, and Implications (CEPR DP9329)

February 4, 2013 Comments (0)

Financial Crises: Explanations, Types, and Implications Author(s): Stijn Claessens, Ayhan Kose CEPR Discussion Paper Number 9329 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE) Date of Publication: 03/02/2013 Keyword(s): asset booms, banking crises, credit booms, crises prediction, currency crises, debt crises, defaults, financial restructuring, policy implications, Sudden stops JEL(s): E32, E5, E6, F44, G01, H12...

Credit Market Competition and Liquidity Crises (CEPR DP9311)

January 28, 2013 Comments (0)

Credit Market Competition and Liquidity Crises Author(s): Elena Carletti, Agnese Leonello CEPR Discussion Paper Number 9311 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE) Date of Publication: 27/01/2013 Keyword(s): default, Interbank market, price volatility JEL(s): G01, G21 Abstract: We develop a model where banks invest in reserves and loans, and face aggregate liquidity shocks. Banks with liquidity shortage...

Understanding Financial Crises: Causes, Consequences, and Policy Responses (CEPR DP9310)

January 28, 2013 Comments (0)

Understanding Financial Crises: Causes, Consequences, and Policy Responses Author(s): Stijn Claessens, Ayhan Kose, Luc Laeven, Fabian Valencia CEPR Discussion Paper Number 9310 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE) Date of Publication: 27/01/2013 Keyword(s): asset price busts, banking crises, credit busts, currency crises, debt crises, defaults, global financial crisis, prediction of crises,...

Do entrepreneurs matter? (CEPR DP9295)

January 21, 2013 Comments (0)

Do entrepreneurs matter? Author(s): Sascha O. Becker, Hans K Hvide CEPR Discussion Paper Number 9295 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE), Industrial Organization (IO), Labour Economics (LE) Date of Publication: 20/01/2013 Keyword(s): entrepreneurship, firm performance, human capital JEL(s): D21, D24, G39, J23, L11, L25 Abstract: In the large literature on firm performance, economists have given little...

A Theory of Asset Prices based on Heterogeneous Information (CEPR DP9291)

January 21, 2013 Comments (0)

A Theory of Asset Prices based on Heterogeneous Information Author(s): Elias Albagli, Christian Hellwig, Aleh Tsyvinski CEPR Discussion Paper Number 9291 Paper Details | PDF Download* | Purchase Electronic | Purchase Printed Programme Area(s): Financial Economics (FE), International Macroeconomics (IM) Date of Publication: 20/01/2013 Keyword(s): asset prices, information aggregation, Modigliani-Miller Theorem, skewness JEL(s): D82, D84, G12, G14 Abstract: With only minimal...