In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset markets

The failure of First Republic Bank (FRB) – the largest bankruptcy in the US banking system since the GFC – may send chilling effects through different asset markets in the US and even worldwide. This paper aims to clarify the effects of FRB failure on several assets and figure out potential safe hav...

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Detalles Bibliográficos
Autores principales: Nobanee, Haitham, Hamill, Philip Anthony, Azmi, Wajahat, Chakraborty, Dipanwita, Nghiem, Xuan-Hoa
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier 2023
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10562849/
https://www.ncbi.nlm.nih.gov/pubmed/37822635
http://dx.doi.org/10.1016/j.heliyon.2023.e20399
Descripción
Sumario:The failure of First Republic Bank (FRB) – the largest bankruptcy in the US banking system since the GFC – may send chilling effects through different asset markets in the US and even worldwide. This paper aims to clarify the effects of FRB failure on several assets and figure out potential safe havens for investors during the 2023 US banking turmoil. Results from the event study approach reveal that eleven particular assets are relatively safe during the current turbulence. Several important implications are made for investors, portfolio managers, and policymakers.

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