![]() ![]() Wolff, Christian ![]() Scientific Conference (2023, February) ![]() Wolff, Christian ![]() E-print/Working paper (2023) ![]() Zhang, Lu ![]() ![]() E-print/Working paper (2022) Extensive research on safe-haven assets has been conducted in the literature. An important finding is that safe-haven assets are frequently used by institutional investors, such as pension funds and ... [more ▼] Extensive research on safe-haven assets has been conducted in the literature. An important finding is that safe-haven assets are frequently used by institutional investors, such as pension funds and investment banks, to ride out high volatility. However, the issue of whether individual investors can benefit from it during a financial crisis has not been adequately addressed. Using the case of sanctioned Russia, we attempt to study whether Bitcoin as a decentralized asset can play a more useful role than gold to protect individual investors when the majority of safe-haven assets are restricted from transactions. Our main results show that both assets exhibit intraday weak safe-haven properties against the ruble. However, gold saw a waning trend compared with its historical performance, whereas Bitcoin’s capability increased during this period. Further sentiment analysis demonstrates Russian investors’ positive attitudes regarding Bitcoin boosting its price in response to the ruble’s depreciation. The return on gold is more likely to be impacted by international investors who are concerned about global uncertainties. [less ▲] Detailed reference viewed: 44 (5 UL)![]() Wolff, Christian ![]() in Journal of Derivatives (2022), (Fall), Detailed reference viewed: 42 (12 UL)![]() ![]() Wolff, Christian ![]() Scientific Conference (2022, July 06) Detailed reference viewed: 23 (2 UL)![]() Wolff, Christian ![]() Presentation (2022, June 24) Detailed reference viewed: 18 (4 UL)![]() ![]() Wolff, Christian ![]() Scientific Conference (2022, June 20) Detailed reference viewed: 14 (1 UL)![]() Wolff, Christian ![]() in Non-Standard Errors (2022) Detailed reference viewed: 24 (0 UL)![]() Wolff, Christian ![]() Diverse speeches and writings (2022) Detailed reference viewed: 32 (2 UL)![]() Wolff, Christian ![]() in Review of Pacific Basin Financial Markets and Policies (2022) Detailed reference viewed: 86 (7 UL)![]() Wolff, Christian ![]() Diverse speeches and writings (2022) Detailed reference viewed: 31 (1 UL)![]() Wolff, Christian ![]() in Asia-Pacific Journal of Accounting and Economics (2022), 29(2), 344-362 Detailed reference viewed: 149 (17 UL)![]() Wolff, Christian ![]() Diverse speeches and writings (2022) Detailed reference viewed: 50 (1 UL)![]() Wolff, Christian ![]() in Best Paper Award (2022) Detailed reference viewed: 40 (4 UL)![]() Wolff, Christian ![]() ![]() E-print/Working paper (2021) Detailed reference viewed: 57 (15 UL)![]() Wolff, Christian ![]() ![]() Report (2021) More than 100 research teams (RTs) from around the world tested the same set of hypotheses on the same data. They worked independently and wrote an academic paper based on their findings. These reports ... [more ▼] More than 100 research teams (RTs) from around the world tested the same set of hypotheses on the same data. They worked independently and wrote an academic paper based on their findings. These reports were be evaluated by more than 30 distinguished academics whom we refer to as peer evaluators (PEs). Their feedback was be passed on to the RTs so that they can revise their papers. The project coordinators will study the #fincap results to learn about the scientific process. They have committed ex-ante to a meta-science analysis which was frozen before any instructions and data were given to the RTs and PEs. This frozen “pre-analysis plan” was uploaded to the Open Science Framework on Monday, 2021-01-11. The project will lead to a peer-reviewed academic publication at high level. [less ▲] Detailed reference viewed: 124 (22 UL)![]() Wolff, Christian ![]() E-print/Working paper (2021) Detailed reference viewed: 93 (7 UL)![]() Wolff, Christian ![]() in Small Business Economics (2021), 57 Do large credit risk shocks spill over to small businesses and affect their real economic activity? Using information on small business credit risk, we find that small businesses show increased default ... [more ▼] Do large credit risk shocks spill over to small businesses and affect their real economic activity? Using information on small business credit risk, we find that small businesses show increased default and bankruptcy rates following a shock to a customer industry. On an industry level, the shock to a customer industry is followed by a decrease in industry markups, disproportionate closure of firms, and cutbacks in inventories. Our analysis quantifies the elevated credit risk among small businesses and suggests a non-negligible 0.83% increase in expected losses on a diversified loan portfolio following a credit risk shock. This study provides banks and supervisors with greater clarity on timing and on the extent of elevated small business credit risk. It also allows them to assess the exposure of a bank portfolio to fluctuations in small business default rate. Such improved default prediction reduces credit rationing to the small business economy. [less ▲] Detailed reference viewed: 118 (9 UL)![]() Wolff, Christian ![]() Diverse speeches and writings (2021) Detailed reference viewed: 133 (1 UL) |
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