Download or read book Stock Market Volatility written by Greg N. Gregoriou and published by CRC Press. This book was released on 2009-04-08 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: Up-to-Date Research Sheds New Light on This Area Taking into account the ongoing worldwide financial crisis, Stock Market Volatility provides insight to better understand volatility in various stock markets. This timely volume is one of the first to draw on a range of international authorities who offer their expertise on market volatility in devel
Download or read book The Quarterly Review of Economics and Finance written by and published by . This book was released on 2009-08 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Swing Pricing and Fragility in Open end Mutual Funds written by Dunhong Jin and published by International Monetary Fund. This book was released on 2019-11-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
Download or read book The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis written by Mr.Heiko Hesse and published by International Monetary Fund. This book was released on 2009-09-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence that central bank interventions had a statistically significant impact on easing stress in unsecured interbank markets during the first phase of the subprime crisis which began in July 2007. Extraordinary liquidity provisions, such as the Term Auction Facility by the Federal Reserve, are analyzed. First a decomposition of the Libor-OIS spread indicates that credit premia increased in importance as the crisis deepened. Second, using Markov switching models, central bank operations are then graphically associated with reductions in term funding stress. Finally, bivariate VAR and GARCH models are adopted to econometrically quantified these impacts. While helpful in compressing Libor spreads, the economic magnitudes of central interventions have overall not been very large.
Download or read book Efficiency and Anomalies in Stock Markets written by Wing-Keung Wong and published by Mdpi AG. This book was released on 2022-02-17 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Efficient Market Hypothesis believes that it is impossible for an investor to outperform the market because all available information is already built into stock prices. However, some anomalies could persist in stock markets while some other anomalies could appear, disappear and re-appear again without any warning. A Special Issue on "Efficiency and Anomalies in Stock Markets" will be devoted to advancements in the theoretical development of market efficiency and anomaly in the Stock Market, as well as applications in Stock Market efficiency and anomalies.
Download or read book Political Economy of Globalization Financialization Crises written by Mehak Anjum Siddiquei and published by IJOPEC Publications. This book was released on 2016-12-28 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited book is a collection of selected papers, presented at the International Conference of Political Economy (ICOPEC 2016). The deliberate employment of the term “political economy” in the title “International Conference of Political Economy” implies the fact that economics is perceived as an integral part of social phenomena in the International Conference of Political Economy (ICOPEC). Accordingly, even if economic institutions and relations form the foundations of society in the contemporary world, economic development is dependent on social power and dynamics, while economic policies, per se, are shaped by not only technical processes but also diverse interests and choices. Within this context, politics is involved in every encounter between different economic classes, social groups and genders being shaped by the visions of a better life as the subject matter of philosophy, ethics and religion and at times it finds its best expression in art. Law, on the other hand, is the embodiment of all social relations which are, in their essence, political. Thus, this conference does not reduce society to market relations only, despite positioning the economy in the heart of social relations. Above all, it considers the society as a political entity. Indeed, everything constitutes the subject matter of politics. The arguments in favour of purifying market relations from the influence of politics and the discourse that they take place on their own right serve to disguise the conflicts of interest and power asymmetries inherent therein. This conference regards man as homo politicus, as Aristoteles put it, rather than homo economicus. In 2016, ICOPEC conferences were turned into a conference series with its 7th conference and the main theme of the 7th conference was determined as “State, Economic Policy, Taxation and Development". IJOPEC Publication has undertaken to publish selected papers, presented at this conference in English and Turkish, in five different edited books. In the 90s the phenomena of globalization managed to dominate political, popular, and academic debates. While reading a newspaper or a book, watching television, surfing the Internet, or participating in a demonstration we come across the links of globalization in our everyday lives. Globalization as a wide term is variously blamed or credited with a huge range of negative effects, e. g. it is often related to social problems ranging from famine to floods, from pollution to poverty, and from rural depopulation to urban overcrowding. On the contrary, globalization can be also considered as the source of success in development, for instance decrease in the poverty levels, economic prosperity and growth, better services, and enhanced awareness of human rights. Nevertheless, some sceptics of the benefits from globalization have also described the potential ways in transforming political, economic, and social relations within and between countries. This transformation may lead to the benefit of human welfare worldwide. T İsmail Şiriner, Bryan Christiansen, Julia Dobreva (Introduction: Political Economy of Globalization: Financialization & Crises) 10 Since the 80s, we can observe a significant increase in the role of the financial sector. This progress is often referred to as financialization. Financialization has many features and affects numerous different economic entities (Epstein 2015; Stockhammer 2013). One key component is the magnificent growth of the financial sector. Greenwood & Scharfstein (2013) point out a massive rise of the financial service sector in the USA during the last 30 years. The growth can be proved either by the financial sector’s share in GDP, the quantity of financial assets, or by employment and average wages in the financial sector. But this growth is not related to the USA; although to a softer scope, similar processes can also be observed in other OECD countries (Philippon & Reshel 2013). The financial rise has its base in the deregulation and liberalization of the financial (and economic) system. From this point of view, financialization is the cause rather than the effect. This is the major difference compared to the other approaches. Financialization can affect the macro-economy through four main channels. These are income distribution, investment in capital stock, household debt, and net exports and current account balances. As a correction, it is discussed that economic structures governed by financialization should be addressed on four dimensions: a) re-regulation and reduction of the financial sector, b) redistribution of income from top to bottom and from capital to labour, c) re-orientation of macroeconomic policies to stabilize domestic demand at non-inflationary full employment levels, and eventually d) re-creation of international monetary and economic policy coordination.
Download or read book MENA Financial Markets written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book State space Models with Regime Switching written by Chang-Jin Kim and published by Mit Press. This book was released on 1999 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Both state-space models and Markov switching models have been highly productive paths for empirical research in macroeconomics and finance. This book presents recent advances in econometric methods that make feasible the estimation of models that have both features. One approach, in the classical framework, approximates the likelihood function; the other, in the Bayesian framework, uses Gibbs-sampling to simulate posterior distributions from data.The authors present numerous applications of these approaches in detail: decomposition of time series into trend and cycle, a new index of coincident economic indicators, approaches to modeling monetary policy uncertainty, Friedman's "plucking" model of recessions, the detection of turning points in the business cycle and the question of whether booms and recessions are duration-dependent, state-space models with heteroskedastic disturbances, fads and crashes in financial markets, long-run real exchange rates, and mean reversion in asset returns.
Download or read book The CIA World Factbook 2012 written by Central Intelligence Agency and published by Simon and Schuster. This book was released on 2011-10-12 with total page 2796 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Afghanistan to Zimbabwe, The CIA World Factbook 2012 offers complete and up-to-date information on the world’s nations. This comprehensive guide is packed with detailed information on the politics, populations, military expenditures, and economics of 2012. For each country, The CIA World Factbook 2012 includes: Detailed maps with new geopolitical data Statistics on the population of each country, with details on literacy rates, HIV prevalence, and age structure New data on military expenditures and capabilities Information on each country’s climate and natural hazards Details on prominent political parties, and contact information for diplomatic consultation Facts on transportation and communication infrastructure And much more! Also included are appendixes with useful abbreviations, international environmental agreements, international organizations and groups, weight and measure conversions, and more. Originally intended for use by government officials, this is a must-have resource for students, travelers, journalists, and business people with a desire to know more about their world.
Download or read book Shock Waves written by Stephane Hallegatte and published by World Bank Publications. This book was released on 2015-11-23 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ending poverty and stabilizing climate change will be two unprecedented global achievements and two major steps toward sustainable development. But the two objectives cannot be considered in isolation: they need to be jointly tackled through an integrated strategy. This report brings together those two objectives and explores how they can more easily be achieved if considered together. It examines the potential impact of climate change and climate policies on poverty reduction. It also provides guidance on how to create a “win-win†? situation so that climate change policies contribute to poverty reduction and poverty-reduction policies contribute to climate change mitigation and resilience building. The key finding of the report is that climate change represents a significant obstacle to the sustained eradication of poverty, but future impacts on poverty are determined by policy choices: rapid, inclusive, and climate-informed development can prevent most short-term impacts whereas immediate pro-poor, emissions-reduction policies can drastically limit long-term ones.
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book Risk Measures with Applications in Finance and Economics written by Michael McAleer and published by MDPI. This book was released on 2019-07-23 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk measures play a vital role in many subfields of economics and finance. It has been proposed that risk measures could be analysed in relation to the performance of variables extracted from empirical real-world data. For example, risk measures may help inform effective monetary and fiscal policies and, therefore, the further development of pricing models for financial assets such as equities, bonds, currencies, and derivative securities.
Download or read book Financial Transition in Europe and Central Asia written by Alexander Fleming and published by World Bank Publications. This book was released on 2001-01-01 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains 21 papers focusing on a wide range of issues concerning financial sector transition in the countries of Europe and Central Asia (ECA). It places the transition economies in the context of recent and prospective developments in global financial markets. This book also evaluates the experience of the last 10 years and reviews the progress from a command financial system to a market-based one, identifying some of the key characteristics of the financial transition.
Download or read book Global Financial Stability Report April 2013 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2013-04-17 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Financial Stability Report examines current risks facing the global financial system and policy actions that may mitigate these. It analyzes the key challenges facing financial and nonfinancial firms as they continue to repair their balance sheets. Chapter 2 takes a closer look at whether sovereign credit default swaps markets are good indicators of sovereign credit risk. Chapter 3 examines unconventional monetary policy in some depth, including the policies pursued by the Federal Reserve, the Bank of England, the Bank of Japan, the European Central Bank, and the U.S. Federal Reserve.
Download or read book AI and Financial Markets written by Shigeyuki Hamori and published by MDPI. This book was released on 2020-07-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Artificial intelligence (AI) is regarded as the science and technology for producing an intelligent machine, particularly, an intelligent computer program. Machine learning is an approach to realizing AI comprising a collection of statistical algorithms, of which deep learning is one such example. Due to the rapid development of computer technology, AI has been actively explored for a variety of academic and practical purposes in the context of financial markets. This book focuses on the broad topic of “AI and Financial Markets”, and includes novel research associated with this topic. The book includes contributions on the application of machine learning, agent-based artificial market simulation, and other related skills to the analysis of various aspects of financial markets.
Download or read book Ensuring Quality to Gain Access to Global Markets written by Martin Kellermann and published by World Bank Publications. This book was released on 2019-04-09 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a modern world with rapidly growing international trade, countries compete less based on the availability of natural resources, geographical advantages, and lower labor costs and more on factors related to firms' ability to enter and compete in new markets. One such factor is the ability to demonstrate the quality and safety of goods and services expected by consumers and confirm compliance with international standards. To assure such compliance, a sound quality infrastructure (QI) ecosystem is essential. Jointly developed by the World Bank Group and the National Metrology Institute of Germany, this guide is designed to help development partners and governments analyze a country's quality infrastructure ecosystems and provide recommendations to design and implement reforms and enhance the capacity of their QI institutions.
Download or read book Global Economic Prospects June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
