Search results for "Contagion"
showing 10 items of 56 documents
Bitcoin and stock market indices: analysis of volatility’s clusters during the bitcoin bubble based on the dynamic conditional correlation model
2019
The market of virtual currencies, called cryptocurrency, has grown immensely since 2008 in terms of market capitalisation and the numbers of new currencies. Bitcoin is one of the most famous cryptocurrency with an estimated market capitalisation of nearly $ 69 billion. The fact that Bitcoin prices have fallen about 70% from their peak value and most indices were down double-digit year to date (2018) with a high daily volatility create the appearance that there has to be a correlation. The purpose of this paper is to investigate the contagion effect between Bitcoin prices and the leading American, European and Asian equity markets using the dynamic conditional correlation (DCC) model propose…
A Dynamic Factor Analysis of Financial Contagion in Asia
2003
In this paper we compared the performance of country speci…c and regional indicators of reserve adequacy in predicting, out of sample,
German Bank Lending During Emerging Market Crises: A Bank Level Analysis
2007
This paper studies German bank lending during the Asian and Russian crises, using a bank level data set, which has been compiled from credit data at the Deutsche Bundesbank. Our aim is to gain more insight into the pattern of German bank lending during financial crises in emerging markets. We find that German banks reacted to the Asian crisis mainly by reallocating their portfolios among emerging markets. This behaviour is consistent with active portfolio management and does not necessarily indicate a spontaneous reaction to the Asian crisis. By contrast, the banks' behaviour during the Russian crisis is characterised by a general withdrawal from emerging markets. The use of micro data allo…
Transmisión entre mercados bursátiles y crisis financiera : el caso de España
2020
El trabajo analiza si la interrelación entre el mercado bursátil español y las bolsas de Estados Unidos, Reino Unido, Alemania y Francia se ha visto afectada y cómo por la reciente crisis financiera. Para ello, se estima un modelo VAR- GARCH bivariante, durante el período enero de 2000 a junio de 2012. Del modelo estimado se obtiene una medida del grado de integración de los mercados, el coeficiente de correlación condicional, y de éste se concluye que la crisis subprime produjo un efecto contagio entre los mercados bursátiles. Asimismo, la evidencia empírica permite concluir que en el período poscrisis ha aumentado la interrelación de la bolsa española con la francesa, reduciéndose la inte…
Testing for Contagion: a Time-Scale Decomposition
2010
The aim of the paper is to test for financial contagion by estimating a simultaneous equation model subject to structural breaks. For this purpose, we use the Maximum Overlapping Discrete Wavelet Transform, MODWT, to decompose four asset returns into different scale components (each associated with a given frequency range). The decomposition will enable us to obtain the moment conditions necessary to (over)identify a structural form model with a single dummy and the one with multiple dummies capturing shifts in the co-movement of asset returns occurring during periods of financial turmoil. A Montecarlo simulation exercise shows that test based on a single dummy structural form model has goo…
Occupational well-being as a mediator between job insecurity and turnover intention: Findings at the individual and work department levels
2013
This study examined the relationship between job insecurity and turnover intention by applying occupational well-being (exhaustion, vigour) as a mediator. The study was inspired by two theories: the conservation of resources and emotional contagion theories. We investigated the relationships at the individual and work department levels by utilizing Multi-Level Structural Equation Modeling (ML-SEM) with the aim of clarifying whether the mediating mechanism was similar at both levels. In addition, we examined the relationships across the levels (cross-level interactions). Self-report data for the study were obtained from Finnish University staff (N = 2137 individual respondents from 78 work d…
Testing for Financial Contagion Between Developed and Emerging Markets During the 1997 East Asian Crisis
2003
In this paper we examine whether during the 1997 East Asian crisis there was any contagion from the four largest economies in the region (Thailand, Indonesia, Korea and Malaysia) to a number of developed countries (Japan, UK, Germany and France). Following Forbes and Rigobon (2002), we test for contagion as a significant positive shift in the correlation between asset returns, taking into account heteroscedasticity and endogeneity bias. Furthermore, we improve on earlier empirical studies by carrying out a full sample test of the stability of the system that relies on more plausible (over)identifying restrictions. The estimation results provide some evidence of contagion, in particular from…
Prognostic factors and predictors of outcome in children with autism spectrum disorder: the role of the paediatrician.
2021
Abstract Background Autism spectrum disorder is a complex condition with wide variation in type and severity that involves persistent challenges in social interaction, speech and nonverbal communication, restricted/repetitive behaviours and adaptive behaviours. In recent years, research has deepened the study of the predictive factors of optimal outcome, intended as indicators of positive trajectory in children with a previous diagnosis of autism who, after a therapeutic path, show a significant reduction in the “core” symptoms of autism and a positive evolution in social, adaptive, affective, and relational skills. Methods The study included 40 children aged 21 to 66 months, enrolled betwe…
Evidence for unintentional emotional contagion beyond dyads.
2013
International audience; Little is known about the spread of emotions beyond dyads. Yet, it is of importance for explaining the emergence of crowd behaviors. Here, we experimentally addressed whether emotional homogeneity within a crowd might result from a cascade of local emotional transmissions where the perception of another's emotional expression produces, in the observer's face and body, sufficient information to allow for the transmission of the emotion to a third party. We reproduced a minimal element of a crowd situation and recorded the facial electromyographic activity and the skin conductance response of an individual C observing the face of an individual B watching an individual …
Empathic Relationships in Professional Services and the Moderating Role of Relationship Age
2016
Empathy has been identified as a key success factor for employees who interact with customers. Despite its overall relevance, only a few studies have acknowledged its multidimensional nature. Knowledge remains scarce about the relative impact of cognitive and affective empathy on relational outcomes. In addition, few pieces of research have explicitly acknowledged empathy as theorized within stage-models focusing on the communication of empathy. The authors conceptualize empathy as a multidimensional construct perceived by the client. Empathy has to be communicated to be effective, while customers’ perceptions of empathy may also be more complex as they distinguish between cognitive and aff…