Jochen M. Schmittmann

A Macro-Model Approach to Monetary Policy Analysis and Forecasting for Vietnam

The paper develops a small New-Keynesian FPAS model for Vietnam. The model closely matches actual data from 2000-2014. We derive an optimal monetary p...

Currency Hedging for International Portfolios

This paper examines the benefits from hedging the currency exposure of international investments in single- and multi-country equity and bond portfoli...

Green Bond Pricing and Greenwashing Under Asymmetric Information

We analyze the corporate green bond market under a rational framework without an innate green preference, using a simple adverse selection model. Firm...

The Financial Impact of Carbon Taxation on Corporates

Japan

Japan’s commitment to achieve net zero emissions by 2050 will likely require substantial carbon pricing. Corporates appear to be able to absorb a sh...

China's Changing Trade and the Implications for the CLMV

China’s trade patterns are evolving. While it started in light manufacturing and the assembly of more sophisticated products as part of global suppl...

Risk Exposures and Financial Spillovers in Tranquil and Crisis Times

Bank-Level Evidence

For a sample of 83 financial institutions during 2003–2011, this paper attempts to answer three questions: first, what is the evolution of banks’ ...

Labor Market Issues in the Caribbean

Scope to Mobilize Employment Growth

The paper examines the determinants of employment growth, drawing on data available across a sample of Caribbean countries. To that end, the paper ana...

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven ...