Outputs (17)

Product and labor market entry costs, underemployment and international trade (2017)
Book Chapter
Bougheas, S., & Riezman, R. (2017). Product and labor market entry costs, underemployment and international trade. In B. J. Christensen, & C. Kowalczyk (Eds.), Globalization: strategies and effects (19-45). Springer. https://doi.org/10.1007/978-3-662-49502-5_2

We develop a small, open economy, two-sector model with heterogeneous agents and endogenous participation in a labor matching market. There are two types of agents: workers and entrepreneurs. Both populations are heterogeneous. Workers are distinguis... Read More about Product and labor market entry costs, underemployment and international trade.

Bank insolvencies, priority claims and systemic risk (2016)
Journal Article
Bougheas, S., & Kirman, A. (2016). Bank insolvencies, priority claims and systemic risk. Lecture Notes in Economics and Mathematical Systems, 683, 195-208. https://doi.org/10.1007/978-3-319-40803-3_8

We review an extensive literature debating the merits of alternative priority structures for banking liabilities put forward by financial economists, legal scholars and policymakers. Up to now, this work has focused exclusively on the relative advant... Read More about Bank insolvencies, priority claims and systemic risk.

Lead-lag relationships in an embryonic stock market: exploring the role of institutional ownership and liquidity (2016)
Journal Article
Arjoon, V., Bougheas, S., & Milner, C. (2016). Lead-lag relationships in an embryonic stock market: exploring the role of institutional ownership and liquidity. Research in International Business and Finance, 38, https://doi.org/10.1016/j.ribaf.2016.04.012

This paper investigates the influence of institutional ownership and liquidity on stock return relationships for an embryonic and relatively illiquid stock market. Using daily, individual stock data for Trinidad and Tobago from 2001 to 2015 and a VAR... Read More about Lead-lag relationships in an embryonic stock market: exploring the role of institutional ownership and liquidity.

Risk taking and information aggregation in groups (2015)
Journal Article
Bougheas, S., Nieboer, J., & Sefton, M. (2015). Risk taking and information aggregation in groups. Journal of Economic Psychology, 51, https://doi.org/10.1016/j.joep.2015.08.001

We report a controlled laboratory experiment examining risk-taking and information aggregation in groups facing a common risk. The experiment allows us to examine how subjects respond to new information, in the form of both privately observed signals... Read More about Risk taking and information aggregation in groups.

The open economy balance sheet channel and the exporting decisions of firms: evidence from the Brazilian crisis of 1999 (2015)
Journal Article
Bougheas, S., Mizen, P., & Silva, S. (2015). The open economy balance sheet channel and the exporting decisions of firms: evidence from the Brazilian crisis of 1999. Oxford Economic Papers, 67(4), 1096-1122. https://doi.org/10.1093/oep/gpv046

We consider the impact of the Brazilian crisis of 1999 on the extensive and intensive margin of exporters versus non-exporters through the open economy balance sheet channel. Using an open economy balance sheet channel model with firm heterogeneity,... Read More about The open economy balance sheet channel and the exporting decisions of firms: evidence from the Brazilian crisis of 1999.

Complex financial networks and systemic risk: a review (2015)
Book Chapter
Bougheas, S., & Kirman, A. (2015). Complex financial networks and systemic risk: a review. In P. Commendatore, S. Kayam, & I. Kubin (Eds.), Complexity and Geographical Economics: Topics and Tools. Springer International Publishing. https://doi.org/10.1007/978-3-319-12805-4_6

In this paper we review recent advances in financial economics in relation to the measurement of systemic risk. We start by reviewing studies that apply traditional measures of risk to financial institutions. However, the main focus of the review is... Read More about Complex financial networks and systemic risk: a review.

Pooling, tranching, and credit expansion (2013)
Journal Article
Bougheas, S. (2014). Pooling, tranching, and credit expansion. Oxford Economic Papers, 66(2), https://doi.org/10.1093/oep/gpt029

Traditionally banks have used securitization for expanding credit and thus their profitability. It has been well documented that, at least before the 2008 crisis, many banks were keeping a high proportion of the securities that they created on their... Read More about Pooling, tranching, and credit expansion.