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Children don’t read any more. Teenagers even less so. Screens have made the comic books and albums of our childhood a thing of the past. Such is the current discourse. In reality, whether the doomsayers like it or not, children’s literature is...
We link records of firm performance, equity analyst forecast errors, and stock returns around companies’ earnings announcements to firm-specific measures of heat expo sure for more than 17,000 firms in 93 countries from 1995 to 2019. We find that...
Since 2022, EU banks have been enjoying historically high profits. The profits are mostly driven by the delayed pass-through of the rapid monetary policy tightening to deposit rates and as such are likely transitory. Against this background, alm...
The paper explores the nexus between the financial and business cycles in a semi-structural New Keynesian model with a financial accelerator, an active banking sector, and an endogenous macroprudential policy reaction function. We parametrize th...