Journal of Financial Economic Policy: Volume 9 Issue 3

Economic policy uncertainty, market returns and expected return predictability

Frederick A. Adjei, Mavis Adjei

Using the economic policy uncertainty (EPU) index as a proxy for the level of EPU, we study the impact of the level of EPU on the conditional mean of market returns and we examine…

Establishing credible rules for Fed emergency lending

Charles W. Calomiris, Douglas Holtz-Eakin, R. Glenn Hubbard, Allan H. Meltzer, Hal S. Scott

The purpose of this paper is to propose reforms that would establish a credible framework of rules to constrain and guide emergency lending by the Federal Reserve and by fiscal…

Real earnings management or “just business”

Angel Arturo Pacheco Paredes, Clark Wheatley

The purpose of this study is to refine what is characterized as real earnings management. Research on real earnings management (REM) has expressed concerns that firms deviating…

Do financial crises discipline future credit growth?

Puspa Amri, Eric M.P. Chiu, Greg Richey, Thomas D. Willett

The purpose of this paper is to test whether financial crises themselves provide some degree of ex post discipline. In other words, is there learning from the mistakes associated…

Impact of non-performing loans on US product and labor markets

Amit Ghosh

Using time-series data on the US banking industry for the period 1984Q1-2016Q2, the present study aims to examine the impact of both aggregate and sector-specific non-performing…

Recent evidence on political brinkmanship and Treasury yields

Srinivas Nippani, Dror Parnes

This paper aims to analyze how political brinkmanship impacted Treasury yields during the debt ceiling debate in 2015. The results show that the resignation of the House Speaker…

Expectations, uncertainty and risk premium

Rexford Abaidoo

This study aims to examine short- and long-run effects of specific macroeconomic conditions on risk premium estimates on lending.