The aim of this paper is to examine the role of gold in the global financial system. We test
the hypothesis that gold represents a safe haven against stocks of major emerging and …

Is gold a hedge, defined as a security that is uncorrelated with stocks or bonds on average,
or is it a safe haven, defined as a security that is uncorrelated with stocks and bonds in a …

Bitcoin is defined as digital money within a decentralized peer-to-peer payment network. It
is a hybrid between fiat currency and commodity currency without intrinsic value and …

… o l d F u t u r e t − 1 + α 8 G o l d C a s h t − 1 + ɛ t (2) σ t 2 = exp ( λ 0 + λ 1 F e d t − 1 + λ 2 U
… o l d F u t u r e t − 1 + λ 6 G o l d C a s h t − 1 ) + α ɛ t − 1 2 + β σ t − 1 2 (3) Δ l n p r i c e t = α 0 …

We review the literature on gold as an investment. We summarize a wide variety of literature,
including the papers in this special issue of International Review of Financial Analysis to …

This paper studies the spread of the Global Financial Crisis of 2007–2009 from the financial
sector to the real economy by examining ten sectors in 25 major developed and emerging …

This paper analyzes the existence of flights from stocks to bonds and vice versa. We propose
a definition and a test for flight-to-quality, flight-from-quality and cross-asset contagion and …

This article analyzes asymmetric volatility effects for the 20 largest cryptocurrencies and
reports a very different asymmetry compared to equity markets: positive shocks increase the …

Bitcoin is designed as a peer-to-peer cash system. To work as a currency, it must be stable
or be backed by a government. In this paper, we show that the volatility of Bitcoin prices is …

We analyse the relationship between geopolitical risk and asset prices and show that geopolitical
risk is distinct from existing measures of economic, financial, and political risk and that …