Fiscal Risks and Contingent Liabilities
... 1/ Number of episodes includes all episodes, average fiscal cost is calculated using only those episodes for 8 which a fiscal cost number is available. ...
... 1/ Number of episodes includes all episodes, average fiscal cost is calculated using only those episodes for 8 which a fiscal cost number is available. ...
The impact of corporate distress along the supply chain
... a mechanism to coordinate supply chains (Luo and Zhang, 2012) that are targeted to optimize the flow of goods, information and financial flows in inter- and intra- company boundaries in the market (Lambert et al., 1998) in front of market changes (Stevens, 1989). The presence of mark ...
... a mechanism to coordinate supply chains (Luo and Zhang, 2012) that are targeted to optimize the flow of goods, information and financial flows in inter- and intra- company boundaries in the market (Lambert et al., 1998) in front of market changes (Stevens, 1989). The presence of mark ...
The Pass-Through of Sovereign Risk ∗ Luigi Bocola January 2014
... structural estimation is complicated by the fact that the model features time-variation in risk premia and occasionally binding financial constraints. I develop an algorithm for its global solution based on projections and sparse collocation, and I combine it with the particle filter to evaluate th ...
... structural estimation is complicated by the fact that the model features time-variation in risk premia and occasionally binding financial constraints. I develop an algorithm for its global solution based on projections and sparse collocation, and I combine it with the particle filter to evaluate th ...
Economic Development and the Functionality of the Financial
... The complexity of the process of economic development has relevant implications for understanding and meeting its financing needs. Roughly speaking, the required conditions for financing any stage of economic development are similar to those that normally apply to financing investment in an individu ...
... The complexity of the process of economic development has relevant implications for understanding and meeting its financing needs. Roughly speaking, the required conditions for financing any stage of economic development are similar to those that normally apply to financing investment in an individu ...
The Pass-Through of Sovereign Risk ∗ Luigi Bocola January 2014
... structural estimation is complicated by the fact that the model features time-variation in risk premia and occasionally binding financial constraints. I develop an algorithm for its global solution based on projections and sparse collocation, and I combine it with the particle filter to evaluate th ...
... structural estimation is complicated by the fact that the model features time-variation in risk premia and occasionally binding financial constraints. I develop an algorithm for its global solution based on projections and sparse collocation, and I combine it with the particle filter to evaluate th ...
RBC Multi-Strategy Alpha Fund
... Investments in alternative funds are speculative and involve significant risk of loss of all or a substantial amount of your investment. Alternative funds (i) may engage in leverage and other speculative investment practices that may increase the risk of investment loss; (ii) can be highly illiquid; ...
... Investments in alternative funds are speculative and involve significant risk of loss of all or a substantial amount of your investment. Alternative funds (i) may engage in leverage and other speculative investment practices that may increase the risk of investment loss; (ii) can be highly illiquid; ...
Why are Central Banks Delegated Macroprudential Responsibilities?
... The second aspect of the MPR policy framework subject to heated debate is who should monitor systemic risk, design and implement MPR policy. Country reviews of post-crisis regulatory changes suggest that at least two governance frameworks for the conduct of macroprudential policy have emerged (IMF, ...
... The second aspect of the MPR policy framework subject to heated debate is who should monitor systemic risk, design and implement MPR policy. Country reviews of post-crisis regulatory changes suggest that at least two governance frameworks for the conduct of macroprudential policy have emerged (IMF, ...
Effects of Business Diversification on Asset Risk-Taking
... Cummins and Sommer (1996) examine the relation between capitalization and portfolio risk in the P/L insurance industry by using a pooled cross-section, time series sample. They find a positive relation between the capital-to-asset ratio and asset risk-taking. Lee, Mayers, and Smith (1997) investigat ...
... Cummins and Sommer (1996) examine the relation between capitalization and portfolio risk in the P/L insurance industry by using a pooled cross-section, time series sample. They find a positive relation between the capital-to-asset ratio and asset risk-taking. Lee, Mayers, and Smith (1997) investigat ...
Systemic Financial-Service Institutions and Monopoly Power
... Wall Street's influence in Washington is to blame for the 2008 financial crisis and criticizing the government's proposed solutions as insufficient to prevent a future financial crisis); RICHARD A. POSNER, A FAILURE OF CAPITALISM xii-xiii (2009) [hereinafter POSNER, A FAILURE OF CAPITALISM] (posing ...
... Wall Street's influence in Washington is to blame for the 2008 financial crisis and criticizing the government's proposed solutions as insufficient to prevent a future financial crisis); RICHARD A. POSNER, A FAILURE OF CAPITALISM xii-xiii (2009) [hereinafter POSNER, A FAILURE OF CAPITALISM] (posing ...
Another view on the pricing of MBSs, CMOs and CDOs of ABSs
... It is theoretically possible to make all these processes dependent, to state relevant debt and prepayment boundaries and generate trajectories to get prices (by simulation, most of the time). Clearly, the lack of closed-form formulas and of instruments for calibration, the number of parameters and t ...
... It is theoretically possible to make all these processes dependent, to state relevant debt and prepayment boundaries and generate trajectories to get prices (by simulation, most of the time). Clearly, the lack of closed-form formulas and of instruments for calibration, the number of parameters and t ...
II. Estimating Risk and Return using Historical Data
... as combine assets, unsystematic risk begins to cancel out after combine 20 or 30 randomly chosen assets, almost all unsystematic risk gone reason: very unlikely that all 20 have positive surprises at same time once part of market portfolio, all is gone 2. systematic risk not affected by dive ...
... as combine assets, unsystematic risk begins to cancel out after combine 20 or 30 randomly chosen assets, almost all unsystematic risk gone reason: very unlikely that all 20 have positive surprises at same time once part of market portfolio, all is gone 2. systematic risk not affected by dive ...
The Secondary Ticketing Market • Tickets originate from “primary
... o The ticket resale market is important as it helps to ensure seats are full by connecting consumers with tickets that have already been purchased but risk going unused. It helps put fans in otherwise empty seats, while helping him or her recover some costs. Importantly, the market helps players ...
... o The ticket resale market is important as it helps to ensure seats are full by connecting consumers with tickets that have already been purchased but risk going unused. It helps put fans in otherwise empty seats, while helping him or her recover some costs. Importantly, the market helps players ...
European Financial Transaction Tax
... says: ‘The proposals would have an enormous impact on repo markets, where overnight rolling costs would amount to no less than 22% annually. In all probability, all repos would have to be re-documented as some form of loan transaction, which is not straightforward as it creates a host of other probl ...
... says: ‘The proposals would have an enormous impact on repo markets, where overnight rolling costs would amount to no less than 22% annually. In all probability, all repos would have to be re-documented as some form of loan transaction, which is not straightforward as it creates a host of other probl ...
Will the Global Crisis Lead to Global Transformations?
... Suetin 2009; Grigoriev and Salikhov 2008). It should be noted that the aspiration for risk (which is usually characterized as a positive quality feature of an entrepreneur's psychology) should be reconsidered in conditions of globalization. If financiers (and finally other businessmen) consider the ...
... Suetin 2009; Grigoriev and Salikhov 2008). It should be noted that the aspiration for risk (which is usually characterized as a positive quality feature of an entrepreneur's psychology) should be reconsidered in conditions of globalization. If financiers (and finally other businessmen) consider the ...
Karlstad Business School Kundju Atem, Robert Paper on Financial
... the standards as the days open up. The problems of the 1970s were largely economic, plus a smattering of politics. Nowadays, our problems are primarily concerned with serious issues of fair value focus towards its information effects on the capital market. According to Maria Carman Hauian (2008), “t ...
... the standards as the days open up. The problems of the 1970s were largely economic, plus a smattering of politics. Nowadays, our problems are primarily concerned with serious issues of fair value focus towards its information effects on the capital market. According to Maria Carman Hauian (2008), “t ...
AMP Capital Derivatives Risk Statement
... AMP Capital has an operational risk framework which outlines the procedures to be adopted by the business in managing operational risk. The framework considers the elements of risk and control assessment, policy and compliance management, incident management including breach reporting, governance an ...
... AMP Capital has an operational risk framework which outlines the procedures to be adopted by the business in managing operational risk. The framework considers the elements of risk and control assessment, policy and compliance management, incident management including breach reporting, governance an ...
The Capital Structure Puzzle
... Large adjustment costs could possibly explain the observed wide variation in actual debt ratios, since firms would be forced into long excursions away from their optimal ratios. But there is nothing in the usual static tradeoff stories suggesting that adjustment costs are a first-order concern-in fa ...
... Large adjustment costs could possibly explain the observed wide variation in actual debt ratios, since firms would be forced into long excursions away from their optimal ratios. But there is nothing in the usual static tradeoff stories suggesting that adjustment costs are a first-order concern-in fa ...
The Use of Financial Derivatives by Canadian Firms
... be consistent with those found in other jurisdictions. Financial derivatives such as forwards, futures, options and swaps allow corporations to protect themselves from unpredictable changes in exchange rates, interest rates and commodity prices, thereby reducing the degree of financial risk to which ...
... be consistent with those found in other jurisdictions. Financial derivatives such as forwards, futures, options and swaps allow corporations to protect themselves from unpredictable changes in exchange rates, interest rates and commodity prices, thereby reducing the degree of financial risk to which ...
