![Domestic Government Debt Structure, Risk Characteristics](http://s1.studyres.com/store/data/021076467_1-2be843991b0516ebb532bb4e3fbf08ca-300x300.png)
Domestic Government Debt Structure, Risk Characteristics
... Since the early 1980s, the ratio of domestic government debt to gross domestic product (GDP) in Nigeria has risen sharply. By 1964, the level of domestic debt was 5.5 percent of GDP. A decade later (by 1974), this ratio went up slightly to 6.9 percent of GDP. But by 1984, the domestic debt /GDP rati ...
... Since the early 1980s, the ratio of domestic government debt to gross domestic product (GDP) in Nigeria has risen sharply. By 1964, the level of domestic debt was 5.5 percent of GDP. A decade later (by 1974), this ratio went up slightly to 6.9 percent of GDP. But by 1984, the domestic debt /GDP rati ...
capital structure and dividend policy
... costs associated with bankruptcy, which can be considerable. When the costs of bankruptcy are considered, there is a point where the benefit of the tax deductibility of debt is more than offset by increases in the cost of debt and the cost of equity that result from the risk associated with the firm ...
... costs associated with bankruptcy, which can be considerable. When the costs of bankruptcy are considered, there is a point where the benefit of the tax deductibility of debt is more than offset by increases in the cost of debt and the cost of equity that result from the risk associated with the firm ...
selection from a published volume from the of Economic Research
... study a two- country economy in which investors hold assets in the domestic and the foreign country but are exposed to leverage constraints. They find that if international financial markets are highly integrated, productivity shocks will be propagated through investors’ financial portfolios. In tur ...
... study a two- country economy in which investors hold assets in the domestic and the foreign country but are exposed to leverage constraints. They find that if international financial markets are highly integrated, productivity shocks will be propagated through investors’ financial portfolios. In tur ...
Financial Ratios
... Calculating ratios is pointless unless you know how to use them The most basic rule is: a single ratio provides very little information and may be misleading With that in mind, there are at least 4 uses of ratios: ...
... Calculating ratios is pointless unless you know how to use them The most basic rule is: a single ratio provides very little information and may be misleading With that in mind, there are at least 4 uses of ratios: ...
The Macroeconomic Transition to High Household Debt Jeffrey R. Campbell Zvi Hercowitz
... From the middle 1930s until the early 1980s, 15 and 30 year amortized mortgages accounted for most of collateralized household debt. These required the home owner to take an initial equity share at the time of purchase and to accumulate further equity as the debt amortizes. The implied forced savin ...
... From the middle 1930s until the early 1980s, 15 and 30 year amortized mortgages accounted for most of collateralized household debt. These required the home owner to take an initial equity share at the time of purchase and to accumulate further equity as the debt amortizes. The implied forced savin ...
accounts receivable
... Accounts receivable are reported at their gross amount on the balance sheet No matching of bad debts expense with the sales revenue Not GAAP therefore Not Acceptable for financial reporting purposes ...
... Accounts receivable are reported at their gross amount on the balance sheet No matching of bad debts expense with the sales revenue Not GAAP therefore Not Acceptable for financial reporting purposes ...
Determinants of Firm`s Financial Leverage: A Critical
... the journals into three categories: (i) Core, (i i) Non Core, and (i ii) Othe rs. We understand that our sample is the true representative of the population to reflect the state of research in determining the variables affecting the firm’s leverage. We reviewed articles in the journals through the E ...
... the journals into three categories: (i) Core, (i i) Non Core, and (i ii) Othe rs. We understand that our sample is the true representative of the population to reflect the state of research in determining the variables affecting the firm’s leverage. We reviewed articles in the journals through the E ...
Classes of Ratios
... turnover of payables, the shorter the time between purchase and payment. If a company’s payables appear to be turning more slowly than the industry, then the company may be experiencing cash shortages, disputing invoices with suppliers, enjoying extended terms, or deliberately expanding its trade cr ...
... turnover of payables, the shorter the time between purchase and payment. If a company’s payables appear to be turning more slowly than the industry, then the company may be experiencing cash shortages, disputing invoices with suppliers, enjoying extended terms, or deliberately expanding its trade cr ...
The fiscal space in emerging market economies
... primary balance and the effective cost of debt, for 26 emerging market economies during the 20002015 period. We propose an alternative measure, the stochastic debt limit, which takes into account the uncertainty and sensitivity of the debt limit to macroeconomic and financial conditions. The main re ...
... primary balance and the effective cost of debt, for 26 emerging market economies during the 20002015 period. We propose an alternative measure, the stochastic debt limit, which takes into account the uncertainty and sensitivity of the debt limit to macroeconomic and financial conditions. The main re ...
Debt Structure and Financial Flexibility
... channels. Higher debt may reduce future debt capacity, and hence the ability to finance new investment with debt, either by increasing the probability of default or by putting a firm beyond its debt capacity in the sense of Myers and Majluf (1984). Higher debt may also impose greater debt overhang ( ...
... channels. Higher debt may reduce future debt capacity, and hence the ability to finance new investment with debt, either by increasing the probability of default or by putting a firm beyond its debt capacity in the sense of Myers and Majluf (1984). Higher debt may also impose greater debt overhang ( ...
mmi13 Watzka 19074706 en
... and pays interest of 10% on that debt, he loses 1,000 dollars that he could otherwise spend. However, if Jane Doe lent 10,000 dollars to John, she now has an additional 1,000 dollars to spend. The same is true for a government. When the government must pay more interest on its debt, the lender recei ...
... and pays interest of 10% on that debt, he loses 1,000 dollars that he could otherwise spend. However, if Jane Doe lent 10,000 dollars to John, she now has an additional 1,000 dollars to spend. The same is true for a government. When the government must pay more interest on its debt, the lender recei ...
05. The Impact of Expense Shocks on the Financial Distress of
... extract equity-financing more easily from their homes, and this market has expanded to the secondary market of cash-out refinancing at high interest rates. In the same vein, car purchasers have a greater number of finance choices than they did in the past, such as leasing or borrowing through instal ...
... extract equity-financing more easily from their homes, and this market has expanded to the secondary market of cash-out refinancing at high interest rates. In the same vein, car purchasers have a greater number of finance choices than they did in the past, such as leasing or borrowing through instal ...
Government Deficits and Debt - The Office of the Auditor General in
... A series of PowerPoint presentations were developed, including: the Province of Manitoba’s fiscal position, a comparison of deficits and debt among the provinces, and national and international research and developments on government debt. Two roundtables were organized and held in Brandon and W ...
... A series of PowerPoint presentations were developed, including: the Province of Manitoba’s fiscal position, a comparison of deficits and debt among the provinces, and national and international research and developments on government debt. Two roundtables were organized and held in Brandon and W ...
Claim for Securities
... account, unless: (1) The Debtor has sent written confirmation to the customer that the securities in question have been sold for or purchased from the customer’s account; or (2) Whether or not written confirmation of the purchase has been sent, if the securities in question have become the subject ...
... account, unless: (1) The Debtor has sent written confirmation to the customer that the securities in question have been sold for or purchased from the customer’s account; or (2) Whether or not written confirmation of the purchase has been sent, if the securities in question have become the subject ...
The Role of ABS, CDS and CDOs in the Credit Crisis and the Economy
... and CDO^2 bonds had complex payo¤ structures, di¢ cult to understand and to model. Hence the investment fund managers, motivated by their short-term bonuses, did not do their own due diligence. Nonetheless, they invested in these securities because the yields on AAA-rated ABS and CDO bonds exceeded ...
... and CDO^2 bonds had complex payo¤ structures, di¢ cult to understand and to model. Hence the investment fund managers, motivated by their short-term bonuses, did not do their own due diligence. Nonetheless, they invested in these securities because the yields on AAA-rated ABS and CDO bonds exceeded ...
OPTIMAL TAXATION WITH ENDOGENOUS DEFAULT UNDER INCOMPLETE MARKETS
... feasibility. If the government defaults, the economy enters temporary financial autarky and faces exogenous offers to pay a fraction of the defaulted debt that arrive at an exogenous rate.5 The government has the option to accept the offer – and thus exit financial autarky – or to stay in financial ...
... feasibility. If the government defaults, the economy enters temporary financial autarky and faces exogenous offers to pay a fraction of the defaulted debt that arrive at an exogenous rate.5 The government has the option to accept the offer – and thus exit financial autarky – or to stay in financial ...
Crunch Time: Fiscal Crises and the Role of Monetary Policy*
... primary government surplus that would be necessary to keep debt from continually growing as a percentage of GDP. We argue that if this required surplus is sufficiently far from a country’s historical experience and politically plausible levels, the government will begin to pay a premium to internati ...
... primary government surplus that would be necessary to keep debt from continually growing as a percentage of GDP. We argue that if this required surplus is sufficiently far from a country’s historical experience and politically plausible levels, the government will begin to pay a premium to internati ...
First-Time International Bond Issuance—New Opportunities
... issuances have been triggered by Source: Dealogic and IMF staff calculations. both demand and supply factors and moved with the tide of investors’ risk appetite over the last eight years. Debut sovereign issuances slumped dramatically during the height of the global financial crisis, when investors ...
... issuances have been triggered by Source: Dealogic and IMF staff calculations. both demand and supply factors and moved with the tide of investors’ risk appetite over the last eight years. Debut sovereign issuances slumped dramatically during the height of the global financial crisis, when investors ...
Dynamic Monitoring of Financial Intermediaries with Subordinated
... market participants mainly for two reasons. First, they rely on public accounting measures that are announced in a quarterly basis; and secondly, even in the event that accounting measures could be provided with a higher frequency, the statistical association between yields and accounting measures d ...
... market participants mainly for two reasons. First, they rely on public accounting measures that are announced in a quarterly basis; and secondly, even in the event that accounting measures could be provided with a higher frequency, the statistical association between yields and accounting measures d ...
Testing the Trade Off and Pecking Order Models of Capital Structure
... controlling managers. This hypothesis can be helpful for the mature company but for the small company it may not work, because the small firm requires debt for their profitable investment not for controlling manager. Rajan and Zingales (1995) examine the capital structure behaviour in the G7 countri ...
... controlling managers. This hypothesis can be helpful for the mature company but for the small company it may not work, because the small firm requires debt for their profitable investment not for controlling manager. Rajan and Zingales (1995) examine the capital structure behaviour in the G7 countri ...
NBER WORKING PAPER SERIES HOUSEHOLD LEVERAGING AND DELEVERAGING Alejandro Justiniano Giorgio E. Primiceri
... ratio on mortgage borrowing, followed by an abrupt return to its original level. This modeling device captures one important dimension of the credit cycle observed in the U.S. economy, which is the quantitative loosening and subsequent tightening of borrowing constraints at the intensive margin, as ...
... ratio on mortgage borrowing, followed by an abrupt return to its original level. This modeling device captures one important dimension of the credit cycle observed in the U.S. economy, which is the quantitative loosening and subsequent tightening of borrowing constraints at the intensive margin, as ...
An Overview of Asset Protection in Texas, Amy P. Jetel
... protections provided under Texas law. As you will see, Texas is clearly a protective state. Homestead. One of the most generous protections provided by Texas law is the homestead exemption. This exemption is provided for in Sections 50 to 52 of Article XVI of the Texas Constitution and Section 41.00 ...
... protections provided under Texas law. As you will see, Texas is clearly a protective state. Homestead. One of the most generous protections provided by Texas law is the homestead exemption. This exemption is provided for in Sections 50 to 52 of Article XVI of the Texas Constitution and Section 41.00 ...
DEBT FINANCING
... Allows many companies to borrow, at a fixed interest rate, funds which otherwise would not be available and/or would only be available at a higher interest rate. ...
... Allows many companies to borrow, at a fixed interest rate, funds which otherwise would not be available and/or would only be available at a higher interest rate. ...
Accrued Interest on Debt Securities with a Fixed Rate of
... that is, cash based, or even “due for payment”, accounting is not appropriate. SNA93 states: “Accrual accounting records flows at the time economic value is created, transformed, exchanged or extinguished. This means that flows which imply a change of ownership are entered when ownership passes, ser ...
... that is, cash based, or even “due for payment”, accounting is not appropriate. SNA93 states: “Accrual accounting records flows at the time economic value is created, transformed, exchanged or extinguished. This means that flows which imply a change of ownership are entered when ownership passes, ser ...
Belief Regimes and Sovereign Debt Crises
... spikes in spreads. For high levels of debt, a drop in creditor wealth raises the risk premium charged on sovereign bonds and generates an increase in spreads. However, for moderate levels of debt, spreads may actually fall with a drop in creditor wealth. This is because wealth shocks are persistent ...
... spikes in spreads. For high levels of debt, a drop in creditor wealth raises the risk premium charged on sovereign bonds and generates an increase in spreads. However, for moderate levels of debt, spreads may actually fall with a drop in creditor wealth. This is because wealth shocks are persistent ...