| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6269 |
| DP6269 Women's Earning Power and the 'Double Burden' of Market and Household Work | |
| Natalie Chen; Carlo Perroni; Paola Conconi | |
| 发表日期 | 2007-05-23 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper addresses how creditor protection affects the volatility of stock market prices. Credit protection reduces the probability of oscillations between binding and non-binding states of the credit constraint; thereby lowering the rate of return variance. We test this prediction of a Tobin?s q model, by using cross-country panel regression on stock price volatility in 40 countries over the period from 1984 to 2004. Estimated probabilities of a liquidity crisis are used as a proxy for the probability that credit constraints are binding. We find support for the hypothesis that institutions that help reduce the probability of oscillations between binding and non-binding states of the credit constraint also reduce asset price volatility. |
| 主题 | International Macroeconomics |
| 关键词 | Binding credit constraints Liquidity crises Tobin-q investment model |
| URL | https://cepr.org/publications/dp6269 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535145 |
| 推荐引用方式 GB/T 7714 | Natalie Chen,Carlo Perroni,Paola Conconi. DP6269 Women's Earning Power and the 'Double Burden' of Market and Household Work. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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