scholarly journals Online Supplement to an Incidental Parameters Free Inference Approach for Panels with Common Shocks

2020 ◽  
Author(s):  
Arturas Juodis ◽  
Vasilis Sarafidis
Keyword(s):  
Online Supplement ◽  
Common Shocks ◽  
Incidental Parameters

Asymptotics for Panel Models with Common Shocks - Extended Version

2010 ◽  
Author(s):  
Chihwa D. Kao ◽  
Lorenzo Trapani ◽  
Giovanni Urga
Keyword(s):  
Extended Version ◽  
Panel Models ◽  
Common Shocks

Financial Constraints, Stock Returns and R&D in Indian Stock Market

2021 ◽  
pp. 097226292098839
Author(s):  
Pankaj Sinha ◽  
Priya Sawaliya
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Financial Constraints ◽  
Fixed Effect Model ◽  
Quantitative Information ◽  
Common Shocks ◽  
External Finance ◽  
Negative Effect ◽  
Security Returns ◽  
Indian Stock Market

When the accessibility of external finance prohibits a firm from taking the optimum decision related to investment, that firm is called financially constrained. By applying the methodology of Kaplan and Zingales (1997) and Lamont et al. (2001), the current study has created a construct to gauge the level of financial constraints (FC) of the companies which emanate from quantitative information. The study explores whether FC factor is present in the Indian stock market and explores whether the security returns of those firms that are financially constrained move in tandem. The study also attempts to establish the association between security returns and R&D of financially constrained firms. On a sample of 63 R&D reporting companies of S&P BSE 500, traded over the period March 2008 to February 2019, the study used the Fama–French methodology, fixed effect model and the ordered logistic regression. The study finds that firms that are highly constrained earn more returns than low constrained firms. Second, the security returns of firms that are financially constrained move in tandem because these firms are affected by common shocks. This suggests that the FC factor exists in the Indian stock market. Finally, when R&D interacts with the level of FC, then this interaction effect has a negative effect on returns.

scholarly journals U.S. Economic Uncertainty Shocks and China’s Economic Activities: A Time-Varying Perspective

SAGE Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 215824402110326
Author(s):  
Lin Liu
Keyword(s):  
Global Financial Crisis ◽  
The United States ◽  
Time Varying ◽  
Economic Uncertainty ◽  
Transient Effects ◽  
Economic Activities ◽  
Common Shocks ◽  
Uncertainty Shocks ◽  
Intensive Intervention ◽  
The Global Financial Crisis

This paper presents new empirical evidence concerning the time-varying responses of China’s macroeconomy to U.S. economic uncertainty shocks through a novel TVP-VAR model. The results robustly reveal that a rise in U.S. economic uncertainty would exert sizable, persistent, and significant detrimental effects on China’s gross domestic product (GDP), price level, and short-term interest rate during the period when common shocks take place, such as the global financial crisis around 2008, whereas small and transient effects in the tranquil times. Therefore, China should diversify its international linkages and gradually reduce the dependence on the United States into a certain range to shield the domestic economy, as well as improve the independence of monetary policy. Furthermore, to withstand unfavorable external shocks, China should be prudent on greater opening-up and carry out more intensive intervention when common shocks hit the world economy. Finally, investors should be alert to the potential detrimental impact of U.S. economic uncertainty on Chinese assets’ fundamentals.

scholarly journals Common shocks in stocks and bonds

2021 ◽  
Author(s):  
Anna Cieslak ◽  
Hao Pang
Keyword(s):  
Common Shocks

scholarly journals A Breath of Fresh Air / Une boufée d’air frais: Abstracts from the 2012 Canadian Respiratory Conference

2012 ◽  
Vol 19 (3) ◽  
pp. e31-e50
Author(s):  
Pearce Wilcox
Keyword(s):  
British Columbia ◽  
Health Professionals ◽  
Respiratory Health ◽  
Scientific Meeting ◽  
Scientific Committee ◽  
Quebec City ◽  
Online Supplement ◽  
Link Type

The present online supplement highlights the poster abstracts selected for presentation at the 5th Annual Canadian Respiratory Conference (CRC) held in Vancouver, British Columbia, in April 2012. The CRC is a partnership initiative of the Canadian Thoracic Society, Canadian Respiratory Health Professionals, The Lung Association and the Canadian COPD Alliance and has become the premiere national educational and scientific meeting for the respiratory community in Canada. I would like to acknowledge the leadership and expertise of the Scientific Committee, our conference speakers and abstract presenters, all of whom contributed to the delivery of an excellent program. The next Canadian Respiratory Conference will be held in Québec City, Quebec, April 11 to 13, 2012 (www.lung.ca/crc). We look forward to seeing you there!

scholarly journals Business cycle comovement in the G-7: common shocks or common transmission mechanisms?

2010 ◽  
Vol 42 (18) ◽  
pp. 2327-2345 ◽  
Author(s):  
Fabio C. Bagliano ◽  
Claudio Morana
Keyword(s):  
Business Cycle ◽  
Common Shocks ◽  
Transmission Mechanisms

COVID-19 and the Forward-Looking Stock-Bond Return Relationship (Online Supplement)

2021 ◽  
Author(s):  
Xiaojing Cai ◽  
Yingnan Cong ◽  
Ryuta Sakemoto
Keyword(s):  
Online Supplement ◽  
Bond Return ◽  
Forward Looking

scholarly journals Monetary integration issues in Latin America: A multivariate assessment

2008 ◽  
Vol 55 (3) ◽  
pp. 279-308
Author(s):  
Jean-Pierre Allegret ◽  
Alain Sand-Zantman
Keyword(s):  
Latin America ◽  
Exchange Rate ◽  
Business Cycles ◽  
Latin American ◽  
Monetary Union ◽  
Monetary Integration ◽  
Integration Process ◽  
Common Shocks ◽  
The Impact ◽  
Latin American Countries

This paper assesses the monetary consequences of the Latin-American integration process. Over the period 1991-2007, we analyze a sample of five Latin-American countries focusing on the feasibility of a monetary union between L.A. economies. To this end, we study the issue of business cycle synchronization with the occurrence of common shocks. First, we assess the international disturbances influence on the domestic business cycles. Second, we analyze the impact of the adoption of different exchange rate regimes on the countries' responses to shocks. .

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