Investors want to understand how asset markets work. Their perceptions of the mechanism determining asset prices are essentially forecasting models with unknown parameters. If they could have full confidence in the model’s parameters such as in a casino where unknowns have known probabilities, investment strategies and asset prices would reflect rational expectations.
Rational learning about rare-disaster frequencies: A persistent source of asset-price overreaction
Volker Wieland, Christos Koulovatianos, 1 November 2011
Financial Protectionism: the First Tests
Andrew K Rose, Tomasz Wieladek, 23 May 2011
A Decade of Debt
Carmen M Reinhart, Kenneth Rogoff, 28 March 2011
Vox users can download CEPR Discussion Paper 8310 for free here.
Will Stabilisation Limit Protectionism? The 4th GTA Report
Simon J Evenett, 18 February 2010
Download the report from the Global Trade Alert website here.
Greece: The party is over
Charles Wyplosz, 14 December 2009
The near-run on the Greek public debt is wholly unjustified. The Greek government has no incentive to default, and no need to do so as long as financial markets do not panic. On the other hand, governments have indulged in blatant fiscal indiscipline for more than three decades.
Trade finance in crisis
Jean-Pierre Chauffour, Thomas Farole, 5 September 2009
By providing liquidity and security to facilitate the movement of goods and services, trade finance lies at the heart of the global trading system.
Dumping Russia in 1998 and Lehman ten years later: Triple time-inconsistency episodes
Guillermo Calvo, 31 August 2009
In the last decade we have witnessed two major systemic financial crises, namely, the 1998 Russian crisis and the current crisis, the latter initially associated with the subprime mortgage market (henceforth, subprime crisis). A critical event in the subprime crisis was the Lehman Brothers’ episode in September 2008.
Should we rush to further regulate financial institutions?
Guillermo Calvo, Rudy Loo-Kung, 29 June 2009
The global financial crisis: A wake-up call for trade finance capacity building in emerging Asia
Wei Liu, Yann Duval, 19 June 2009
The current financial crisis has provided a useful reminder of how essential trade finance is to international trade.
Italy, before and after Lehman Brothers
Francesco Daveri , 5 June 2009
On 3 June, in parallel with the other European statistical institutes, Italy’s Istat released official estimates of GDP data for the first quarter of 2009. At last, one can meaningfully compare what happened to the Italian economy and the other economies in Europe in the six months after the collapse of Lehman Brothers.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
DellaVigna, Durante, Knight, La Ferrara
Ostry, Berg, Tsangarides
Allen, Eichengreen, Evans
Greenwood, Guner, Kocharakov, Santos
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- How the EZ crisis is permanently changing EU institutionsMicossi
- 21st Century Challenges: The Mobile Middle Class13 - 13 March 2014 / Royal Geographical Society, 1 Kensington Gore, SW7 London / Royal Geographical Society (with IBG)
- The 13th Annual GEP Postgraduate Conference 20141 - 2 May 2014 / Nottingham / Sponsored by Nottingham Centre for Research on Globalisation and Economic Policy (GEP) University of Nottingham, United Kingdom
- Exchange Rates and External Adjustment2 - 3 June 2014 / Zurich / Swiss National Bank