OPTIMUM LEVEL OF INTERNATIONAL RESERVES FOR
... with the central banks of developing countries around the world, especially in the aftermath of the East-Asian crisis of 1997-98. This increase in reserves can be attributed to the extensive trade and financial integration of developing countries and associated risks. Therefore, the share of develop ...
... with the central banks of developing countries around the world, especially in the aftermath of the East-Asian crisis of 1997-98. This increase in reserves can be attributed to the extensive trade and financial integration of developing countries and associated risks. Therefore, the share of develop ...
The Role of Interest Rate Swaps in Corporate
... of comparative advantages among different borrowers in these markets” (p. 646). These market imperfections, according to Bicksler and Chen, provide the economic rationale for interest rate swaps. The Quality-Spread Differential All firms pay a credit-quality premium over the risk-free rate when they ...
... of comparative advantages among different borrowers in these markets” (p. 646). These market imperfections, according to Bicksler and Chen, provide the economic rationale for interest rate swaps. The Quality-Spread Differential All firms pay a credit-quality premium over the risk-free rate when they ...
Chapter 6
... The gross profit ratio indicates how many cents of every dollar are available to cover expenses other than cost of goods sold and to earn a profit. The inventory turnover ratio describes how quickly inventory is purchased (or produced) and sold. ...
... The gross profit ratio indicates how many cents of every dollar are available to cover expenses other than cost of goods sold and to earn a profit. The inventory turnover ratio describes how quickly inventory is purchased (or produced) and sold. ...
Reexamining the Role of Heterogeneous Agents in
... Real-world agents are heterogeneous in all kinds of economically relevant aspects such as risk aversion, wealth, and productivity. Nevertheless, large parts of macroeconomic research have traditionally been conducted in the representative agent framework. This is so despite the well-known fact that ...
... Real-world agents are heterogeneous in all kinds of economically relevant aspects such as risk aversion, wealth, and productivity. Nevertheless, large parts of macroeconomic research have traditionally been conducted in the representative agent framework. This is so despite the well-known fact that ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Reducing Inflation: Motivation and Strategy
... and in the allocation of spending between housing and other forms of consumption are only two of the many ways in which inflation imposes a cost on the economy. The most studied of these is the distortion in the demand for money.8 The interaction of inflation and tax rules also causes distortions in ...
... and in the allocation of spending between housing and other forms of consumption are only two of the many ways in which inflation imposes a cost on the economy. The most studied of these is the distortion in the demand for money.8 The interaction of inflation and tax rules also causes distortions in ...
Quarterly Report III 2016
... Since the second quarter of 2016, Nordex has had two reportable segments - “Projects” and “Service” - in line with the changed internal reporting system following the acquisition of Acciona Windpower. Prior to this, segment reporting had been based on regions. ...
... Since the second quarter of 2016, Nordex has had two reportable segments - “Projects” and “Service” - in line with the changed internal reporting system following the acquisition of Acciona Windpower. Prior to this, segment reporting had been based on regions. ...
Inter-generational Redistribution in the Great Recession
... The current economic downturn is the most severe since the Great Depression. Household incomes have fallen significantly below trend and the prices of real estate and stocks have plummeted. The goal of this paper is to explore the welfare consequences of a severe and long-lasting recession that resu ...
... The current economic downturn is the most severe since the Great Depression. Household incomes have fallen significantly below trend and the prices of real estate and stocks have plummeted. The goal of this paper is to explore the welfare consequences of a severe and long-lasting recession that resu ...
Economic choices and consequences
... Given the basic economic problem of relative scarcity, there are limits on the quantity of goods and services that a country can produce (i.e. the level of its GDP is held down). Not all the wants of individuals and society can be satisfied using the resources currently available. As a result, we ar ...
... Given the basic economic problem of relative scarcity, there are limits on the quantity of goods and services that a country can produce (i.e. the level of its GDP is held down). Not all the wants of individuals and society can be satisfied using the resources currently available. As a result, we ar ...
LEVERAGE, HEDGE FUNDS AND RISK
... (Long Market Value/Capital). Generally, this is amount of leverage, from 5x to 10x or more because the discrepancies being arbitraged the easiest way to think about leverage and the most common way it is expressed. However, one ...
... (Long Market Value/Capital). Generally, this is amount of leverage, from 5x to 10x or more because the discrepancies being arbitraged the easiest way to think about leverage and the most common way it is expressed. However, one ...
NBER WORKING PAPER SERIES LEVERAGE CONSTRAINTS AND THE INTERNATIONAL TRANSMISSION OF SHOCKS
... shock, which leads to a fall in the value of assets in one country, will cause investors to sell some assets and reduce their debt exposure, but this does not affect other countries. In fact investors in other countries increase their borrowing. More broadly, business cycle fluctuations in final goo ...
... shock, which leads to a fall in the value of assets in one country, will cause investors to sell some assets and reduce their debt exposure, but this does not affect other countries. In fact investors in other countries increase their borrowing. More broadly, business cycle fluctuations in final goo ...
EvAluATiON Of ThEOrETiCAl ANd EMPiriCAl rESEArChES ON
... intra-company transactions. Schjelderup and Sorgard (1997) extended the monopolistic model by introducing competition in the final good market in the host country. Also, they developed comparative static results for firms facing the Cournot and Bertrand competition to investigate how transfer prices ...
... intra-company transactions. Schjelderup and Sorgard (1997) extended the monopolistic model by introducing competition in the final good market in the host country. Also, they developed comparative static results for firms facing the Cournot and Bertrand competition to investigate how transfer prices ...
Filed Pursuant to Rule 424(b)(2) Registration Statement No. 333
... The following summary of the material U.S. federal income tax considerations of the acquisition, ownership, and disposition of the notes is based upon the advice of Morrison & Foerster LLP, our tax counsel. The following discussion supplements, and to the extent inconsistent supersedes, the discussi ...
... The following summary of the material U.S. federal income tax considerations of the acquisition, ownership, and disposition of the notes is based upon the advice of Morrison & Foerster LLP, our tax counsel. The following discussion supplements, and to the extent inconsistent supersedes, the discussi ...
aCCOUNTING STANDARD AASB 2011-6
... venturers to obtain relief from the equity method and proportionate consolidation when accounting for interests in joint ventures. AASB 2011-5 Amendments to Australian Accounting Standards – Extending Relief from Consolidation, the Equity Method and Proportionate Consolidation extended this relief ...
... venturers to obtain relief from the equity method and proportionate consolidation when accounting for interests in joint ventures. AASB 2011-5 Amendments to Australian Accounting Standards – Extending Relief from Consolidation, the Equity Method and Proportionate Consolidation extended this relief ...
Sources of Corporate Financing and Economic Crisis in
... firms. Section 5 concludes the paper with agenda for future research. ...
... firms. Section 5 concludes the paper with agenda for future research. ...
Sovereign and corporate credit risk
... In this paper, we also focus on sovereign risk but shift our attention to whether and how changes in sovereign risk affect the credit risk of the non-financial corporate sector. These issues have important consequences on corporate access to financial markets and, in turn, on borrowing costs. The ra ...
... In this paper, we also focus on sovereign risk but shift our attention to whether and how changes in sovereign risk affect the credit risk of the non-financial corporate sector. These issues have important consequences on corporate access to financial markets and, in turn, on borrowing costs. The ra ...
A Long-run Macroeconomic Model of the Austrian Economy
... inputs. It is well known that a constant return to scale production technology under Harrod-neutral technical progress is one of the few specifications consistent with Kaldor’s facts. We therefore assume a Cobb-Douglas production function with exogenous Harrod-neutral technical progress. Factor dema ...
... inputs. It is well known that a constant return to scale production technology under Harrod-neutral technical progress is one of the few specifications consistent with Kaldor’s facts. We therefore assume a Cobb-Douglas production function with exogenous Harrod-neutral technical progress. Factor dema ...
the nature and scope of economics
... 'global' or collective decisions by individual households or producers. It looks at a national or international economy as a whole -e.g. total output, income and expenditure, unemployment, inflation, interest rates and the balance of international trade etc, and what economic policies a government c ...
... 'global' or collective decisions by individual households or producers. It looks at a national or international economy as a whole -e.g. total output, income and expenditure, unemployment, inflation, interest rates and the balance of international trade etc, and what economic policies a government c ...
Interim Report Q1 2017
... At the end of March 2017, the Company’s market capitalization was EUR 3,470 million (EUR 3,387 million) excluding the Company’s own shares. With a closing price of EUR 33.35 (EUR 32.63) the share price decreased 5% from the beginning of the year. During the reporting period the volume weighted avera ...
... At the end of March 2017, the Company’s market capitalization was EUR 3,470 million (EUR 3,387 million) excluding the Company’s own shares. With a closing price of EUR 33.35 (EUR 32.63) the share price decreased 5% from the beginning of the year. During the reporting period the volume weighted avera ...
Dreyfus Variable Investment Fund: Quality Bond Portfolio
... An investment in the fund is not a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. It is not a complete investment program. The fund's share price fluctuates, sometimes dramatically, which means you could lose money. • ...
... An investment in the fund is not a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. It is not a complete investment program. The fund's share price fluctuates, sometimes dramatically, which means you could lose money. • ...
Disgorge the Cash - Roosevelt Institute
... To understand trends in corporate investment, we need to take into account two fundamental facts about modern corporations. First, there is no single group corresponding to the "business owner," or "capitalist." The managers who control the day-to-day activities of the firm and the shareholders who ...
... To understand trends in corporate investment, we need to take into account two fundamental facts about modern corporations. First, there is no single group corresponding to the "business owner," or "capitalist." The managers who control the day-to-day activities of the firm and the shareholders who ...
Preview
... be applied to the experience of the American pharmaceutical industry. Using the stages of capitalism analysis developed by Hyman Minsky (1996) and the concepts of the New Economy Business Model and the Transnational Corporation from Lazonick (2005; 2010) and Serfati (2008), I argue that the most dom ...
... be applied to the experience of the American pharmaceutical industry. Using the stages of capitalism analysis developed by Hyman Minsky (1996) and the concepts of the New Economy Business Model and the Transnational Corporation from Lazonick (2005; 2010) and Serfati (2008), I argue that the most dom ...
Housing and Portfolio Choice: A Life Cycle Simulation Model
... that households can acquire either by renting from the owner or by buying their own housing stock from which housing services can then be derived. At the same time, households may follow an investment incentive in that they consider real estate as an attractive long-term investment that is not subje ...
... that households can acquire either by renting from the owner or by buying their own housing stock from which housing services can then be derived. At the same time, households may follow an investment incentive in that they consider real estate as an attractive long-term investment that is not subje ...
Financial and Marketing Management
... funds, timely repayment of the principal amount as well as interest on the same. All these aspect are to be ensured by the person managing funds/ finance. Employees – They are interested in getting timely payment of their salary/ wages, bonus, incentives and their retirement benefits which are possi ...
... funds, timely repayment of the principal amount as well as interest on the same. All these aspect are to be ensured by the person managing funds/ finance. Employees – They are interested in getting timely payment of their salary/ wages, bonus, incentives and their retirement benefits which are possi ...
IMF Global Financial Stability Report (GFSR) April 2013
... equivalent to 1/4 of 1 percentage point). “n.a.” means not applicable. Minor discrepancies between constituent figures and totals are due to rounding. As used in this volume the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and ...
... equivalent to 1/4 of 1 percentage point). “n.a.” means not applicable. Minor discrepancies between constituent figures and totals are due to rounding. As used in this volume the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and ...
Preliminary version, August 2002. Comments are welcome
... for the Asian developing countries is more than one standard deviation below the sample average. The regression consequently has a tendency to over-predict reserve holdings for the Asian region. Looking at specific countries in Figures 12-13, we see that the coefficient on the country dummy is more ...
... for the Asian developing countries is more than one standard deviation below the sample average. The regression consequently has a tendency to over-predict reserve holdings for the Asian region. Looking at specific countries in Figures 12-13, we see that the coefficient on the country dummy is more ...