Now showing items 1-8 of 8

    • Capital regulation and systemic risk in the insurance sector 

      Gehrig, Thomas; Iannino, Maria Chiara (2018-06-19) - Journal article
      This paper analyses systemic risk in and the effect of capital regulation on the European insurance sector. In particular, the evolution of an exposure measure (SRISK) and a contribution measure (Delta CoVaR) are analyzed ...
    • Cost of borrowing shocks and fiscal adjustment 

      de Groot, Oliver; Holm-Hadulla, F.; Leiner-Killinger, N. (2015-12) - Journal article
      Do capital markets impose fiscal discipline? To answer this question, we estimate the fiscal response to a change in the interest rate paid by 14 European governments over four decades in a panel VAR, using sign restrictions ...
    • Earnout financing in the financial services industry 

      Barbopoulos, Leonidas G.; Molyneux, Phil; Wilson, John O.S. (2016-10) - Journal article
      This paper explores the effects of earnout contracts used in US financial services M&A. We use propensity score matching (PSM) to address selection bias issues with regard to the endogeneity of the decision of financial ...
    • Heterogeneous beliefs and instability 

      Lasselle, Laurence; Svizzero, Serge; Tisdell, Clem (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      While Rational Expectations have dominated the paradigm of expectations formation, they have been more recently challenged on the empirical ground such as, for instance, in the dynamics of the exchange rate. This challenge ...
    • Higher tax for top earners 

      FitzRoy, Felix; Jin, Jim (University of St Andrews, 2017-02) - Working or discussion paper
      The literature can justify increasing and decreasing marginal taxes (IMT & DMT) on top income under different social objectives and income distributions. Even if DMT are optimal, they are often politically infeasible. Then ...
    • Monetary policy and financial stability in the long run : a simple game-theoretic approach 

      Cao, Jin; Chollete, Lorán (2017-02) - Journal article
      Many theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality, central banks play complex, long-horizon games and face more than one tradeoff. We account for these strategic ...
    • Relative equity market valuation conditions and acquirers’ gains 

      Barbopoulos, Leonidas; Andriosopoulos, Dimitris (2017-10) - Journal article
      We examine whether the relative equity market valuation conditions (EMVCs) in the countries of merging firms help acquirers’ managers to time the announcements of both domestic and foreign targets. After controlling for ...
    • Taxation, unemployment and working time in models of economic growth 

      FitzRoy, Felix; Funke, Michael; Nolan, Michael A. (School of Economics and Finance, University of St Andrews., 2001-08) - Working or discussion paper
      This paper combines collective bargaining over wages and working time with models of endogenous and neoclassical growth. Public expenditure is funded by taxes on capital and labour supplied by infinitely-lived households ...