OpenAlex · The Lancet Neurology · 2021 · cites 7778
BACKGROUND: Regularly updated data on stroke and its pathological types, including data on their incidence, prevalence, mortality, disability, risk factors, and epidemiological trends, are important for evidence-based stroke care planning and resource allocation. The Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) aims to provide a standardised and comprehensive measurement of these metrics at globa…
Valery L. Feigin, Benjamin Stark, Catherine O. Johnson, Gregory A. Roth, Catherine Bisignano
OpenAlex · RePEc: Research Papers in Economics · 2016 · cites 19
The cross-currency basis, which is the basis spread added mainly to the U.S. dollar London Interbank Offered Rate (USD LIBOR) when the USD is funded via foreign exchange (FX) swaps using the Japanese yen or the euro as a funding currency, has been widening globally since the beginning of 2014. This development is driven by (1) increased demands for U.S. dollars resulting from a divergence in the monetary policy betwe…
Fumihiko Arai, Yoshibumi Makabe, Yasunori Okawara, Teppei Nagano
arXiv · arXiv · 2026
Retractions serve as an indicator of failures in research integrity, yet most analyses focus on absolute counts rather than risk per paper. We use one of the largest open bibliographic databases to develop incidence metrics normalized by population: retractions per publication and per active author annually. Applying an epidemiological framework that models counts with exposure, we find evidence of exponential growth…
Sara Venturini, Alessandra Urbinati, Paola Gallo, Jessica T. Davis, Alessandro Vespignani
OpenAlex · Review of Financial Studies · 2015 · cites 137
The search for a market design that ensures stable bank funding is at the top of regulators' policy agenda. This paper empirically shows that the central counterparty (CCP)-based euro interbank repo market features this stability. Using a unique and comprehensive data set, we show that the market is resilient during crisis episodes and may even act as a shock absorber, in the sense that repo lending increases with ri…
Loriano Mancini, Angelo Ranaldo, Jan Wrampelmeyer
OpenAlex · BIS quarterly review · 2008 · cites 126
As the financial crisis deepened and unsecured interbank markets effectively shut down, repo market activity became increasingly concentrated in the very shortest maturities and against the highest-quality collateral. Repo rates for US Treasury collateral fell relative to overnight index swap rates, while comparable sovereign repo rates in the euro area and the United Kingdom rose. The different dynamics across marke…
Peter Hördahl, Michael R. King
OpenAlex · European Journal of Finance · 2020 · cites 6
Over the last decade, the foreign exchange derivatives market has witnessed a collapse of covered interest parity (CIP). Not only does this collapse give rise to large deviations from CIP, it has unlocked a stream of exploitable arbitrage opportunities across currencies. In this paper, we introduce two new factors – inflation differential and relative economic performance – as potential drivers of deviations from CIP…
Oyakhilome Ibhagui
OpenAlex · BIS quarterly review · 2016 · cites 151
Covered interest parity verges on a physical law in international finance. And yet it has been systematically violated since the Great Financial Crisis. Especially puzzling have been the violations since 2014, even once banks had strengthened their balance sheets and regained easy access to funding. We offer a framework to think about these violations, stressing the combination of hedging demand and tighter limits to…
Claudio Borio, Robert N. McCauley, Patrick McGuire, Vladyslav Sushko
OpenAlex · The Journal of Finance · 2014 · cites 823
ABSTRACT We model a loop between sovereign and bank credit risk. A distressed financial sector induces government bailouts, whose cost increases sovereign credit risk. Increased sovereign credit risk in turn weakens the financial sector by eroding the value of its government guarantees and bond holdings. Using credit default swap (CDS) rates on European sovereigns and banks, we show that bailouts triggered the rise o…
Viral V. Acharya, Itamar Drechsler, Philipp Schnabl
arXiv · arXiv · 2026
In this paper, we develop an open-economy macroeconomic model of a Proof-of-Stake network to analyze nominal token-price dynamics and the systemic effects of speculative capital. We first consider a network populated solely by active utility users, who finance network activity through a steady exogenous inflow of fiat currency. We prove the existence of a unique, globally asymptotically stable steady-state equilibriu…
Mikhail Perepelitsa
OpenAlex · Journal of Financial and Quantitative Analysis · 2016 · cites 123
Abstract We provide new empirical evidence that U.S. expected growth and consumption volatility are closely related to the strong comovement in sovereign spreads. We rationalize these findings in an equilibrium model with recursive utility for credit default swap (CDS) spreads. The framework links a reduced-form default process with country-specific sensitivity to expected growth and macroeconomic uncertainty. Exploi…
Patrick Augustin, Roméo Tédongap
arXiv · arXiv · 2026
Generating synthetic financial time series that preserve the statistical properties of real market data is essential for stress testing, risk model validation, and scenario design. Existing approaches struggle to simultaneously reproduce heavy-tailed distributions, negligible linear autocorrelation, and persistent volatility clustering. We developed a hybrid hidden Markov framework that discretized excess growth rate…
Abdulrahman Alswaidan, Jeffrey D. Varner
OpenAlex · Econstor (Econstor) · 2004 · cites 535
In 2004 all ECB publications will feature a motif taken from the €100 banknote. This paper can be downloaded from the ECB’s website
Lieven Baele, Annalisa Ferrando, Peter Hördahl, Elizaveta Krylova, Cyril Monnet
OpenAlex · Cambridge University Press eBooks · 2003 · cites 326
Proper conduct of monetary policy requires understanding the monetary transmission mechanism, to monitor the economy, make decisions on the stance of policy, and explain the policy actions to the public. Hence, gathering evidence on the monetary transmission mechanism in the euro area has been a priority for the Eurosystem. This 2003 book presents the results of a multi-year collaborative project conducted by the Eur…
Ignazio Angeloni, Kashyap, A. K., Mojon, Benoît, Eurosystem Monetary Transmission Network issuing body
OpenAlex · Munich Personal RePEc Archive (Ludwig Maximilian University of Munich) · 2011 · cites 234
The financial crisis and the ensuing recession have caused a sharp deterioration in public finances across advanced economies, raising investor concerns about sovereign risk. The concerns have so far mainly affected the euro area, where some countries have seen their credit ratings downgraded during 2009−11 and their funding costs rise sharply. Other countries have also been affected, but to a much lesser extent. Gre…
Fabio Panetta, Ricardo Correa, Michael Davies, Antonio Di Cesare, José-Manuel Marques
OpenAlex · Brookings Papers on Economic Activity · 2017 · cites 107
We propose three core principles that should inform the design of bank capital regulation. First, whenever possible, multiple constraints on the minimum level of equity capital should be consolidated into a single constraint. This helps to avoid a distortionary situation where different constraints bind for different banks performing the same activity. Second, the best way to deal with the inevitable gaming of any se…
Robin Greenwood, Jeremy C. Stein, Samuel Hanson, Adi Sunderam