The eurozone is mired in a recession. In 2013, the GDP of all 17 eurozone countries fell by 0.5% and the outlook for 2014 shows considerable risks across the region. To stabilize the common currency area and its…
In this paper, we seek empirical evidence for information rents in loan spreads by analyzing a sample of UK syndicated loan contracts for the period from 1996 to 2005. We use various measures for borrower…
Recent developments in information and communication technologies (ICT) and the growth of emerging economies such as China and India have not only increased international trade but have also led to offshoring of…
The financial and economic crisis has drawn attention to the need for a better understanding of destabilising effects that arise in the financial sector and spill over to the real economy. In turn, weakening…
In an influential recent paper, Beaudry and Portier (2006) propose a sequential approach for identifying technological news shocks. Thereby, the correlation coefficient between news shocks of a short-run…
Recent empirical literature delivered, based on different structural VAR approaches, controversial results concerning the role of anticipated technology—news—shocks in business cycle fluctuations. We deal with…