EIB - EESC European Economic and Social Committee
... EUR 60 000 million and will last “at least” until September 2016, will be implemented through the acquisition of financial assets. • So, “at least” it will reach 1,14 trillion EUR (As a reference: more than 50 times the EC Investment Plan for Europe or Juncker Plan). ...
... EUR 60 000 million and will last “at least” until September 2016, will be implemented through the acquisition of financial assets. • So, “at least” it will reach 1,14 trillion EUR (As a reference: more than 50 times the EC Investment Plan for Europe or Juncker Plan). ...
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... decades ago in developing creative mechanisms for reducing or subsidizing transactions costs. Indeed, microcredit institutions are among the first to venture into micro-insurance products, and their most popular initial insurance product offering was „credit-life‟ insurance to pay off any debts asso ...
... decades ago in developing creative mechanisms for reducing or subsidizing transactions costs. Indeed, microcredit institutions are among the first to venture into micro-insurance products, and their most popular initial insurance product offering was „credit-life‟ insurance to pay off any debts asso ...
Option traders use (very) sophisticated heuristics, never the Blackâ
... Option traders call the formula they use the “Black–Scholes–Merton” formula without being aware that by some irony, of all the possible options formulas that have been produced in the past century, what is called the Black–Scholes–Merton “formula” (after Black and Scholes, 1973; Merton, 1973) is the ...
... Option traders call the formula they use the “Black–Scholes–Merton” formula without being aware that by some irony, of all the possible options formulas that have been produced in the past century, what is called the Black–Scholes–Merton “formula” (after Black and Scholes, 1973; Merton, 1973) is the ...
Calculating the Equity Risk Premium and the Risk
... Consistency between the ERP and the risk-free rate One basic issue in the choice of the bond duration is the need for consistency between the choice of ERP and the risk-free rate. The ERP is a premium over some bond – usually either a long-term or a short-term bond. 8 As we see from the yield-curve ...
... Consistency between the ERP and the risk-free rate One basic issue in the choice of the bond duration is the need for consistency between the choice of ERP and the risk-free rate. The ERP is a premium over some bond – usually either a long-term or a short-term bond. 8 As we see from the yield-curve ...
The Effect of the Recent Financial Crisis on Defined
... investments in, for example, housing and human capital, and thus have to take these factors into account. Bovenberg et al. (2007) have shown that individual investors make risk-return tradeoffs over their full life cycle. Essentially, this means that stocks and other risky assets are part of the opt ...
... investments in, for example, housing and human capital, and thus have to take these factors into account. Bovenberg et al. (2007) have shown that individual investors make risk-return tradeoffs over their full life cycle. Essentially, this means that stocks and other risky assets are part of the opt ...
Asset market participation and portfolio choice over the life-cycle
... of investors’ portfolio. Inspired by empirical findings from novel microeconomic data on households portfolios, several papers have provided new models of the life cycle portfolio of individual investors that go beyond the seminal models of Mossin (1968), Samuelson (1969) and Merton (1969). These ea ...
... of investors’ portfolio. Inspired by empirical findings from novel microeconomic data on households portfolios, several papers have provided new models of the life cycle portfolio of individual investors that go beyond the seminal models of Mossin (1968), Samuelson (1969) and Merton (1969). These ea ...
Regulatory Constraints on Leverage: The
... The regulatory measure of leverage in Canada is the ratio of total balance sheet assets and certain off-balance-sheet items to total regulatory capital (adjusted net Tier 1 and Tier 2 capital).3 The off-balance-sheet items include all direct contractual exposures to credit risk—including letters of ...
... The regulatory measure of leverage in Canada is the ratio of total balance sheet assets and certain off-balance-sheet items to total regulatory capital (adjusted net Tier 1 and Tier 2 capital).3 The off-balance-sheet items include all direct contractual exposures to credit risk—including letters of ...
An Empirical Test of the Validity of the Capital Asset Pricing Model
... 1926-1966 using all the stocks listed on the NYSE. Based on monthly return data and an equally-weighted portfolio of all stocks traded on the NYSE as their proxy for the market portfolio, they find evidence in support of a significant positive linear relation between beta and expected return. Fama a ...
... 1926-1966 using all the stocks listed on the NYSE. Based on monthly return data and an equally-weighted portfolio of all stocks traded on the NYSE as their proxy for the market portfolio, they find evidence in support of a significant positive linear relation between beta and expected return. Fama a ...
How to Access Trade Finance: A guide for exporting SMEs
... of these enterprises, considered the backbone of an economy, have collapsed. Small and medium-sized enterprises (SMEs) in developing countries have been hardest hit, with export markets cut by an average of 40%–50% and resulting increases in unemployment and poverty. International Trade Centre (ITC) ...
... of these enterprises, considered the backbone of an economy, have collapsed. Small and medium-sized enterprises (SMEs) in developing countries have been hardest hit, with export markets cut by an average of 40%–50% and resulting increases in unemployment and poverty. International Trade Centre (ITC) ...
NBER WORKING PAPER SERIES QUANTITATIVE IMPLICATION OF A DEBT-DEFLATION
... East Asia in 1997, even in countries where there was no devaluation of the currency, as in Hong Kong where equity prices fell by 20 percent. Sudden Stops also induced higher asset price volatility. The volatility of weekly emerging-market dollar returns doubled from 2 to 4 percent during the 1997 Ea ...
... East Asia in 1997, even in countries where there was no devaluation of the currency, as in Hong Kong where equity prices fell by 20 percent. Sudden Stops also induced higher asset price volatility. The volatility of weekly emerging-market dollar returns doubled from 2 to 4 percent during the 1997 Ea ...
Tactical Asset Allocation with Macroeconomic Factors
... of Treasury bonds (EAFE). As for correlations between asset classes, corporate bonds, Treasury bonds, commodities possess low correlations with U.S. stocks and are also not highly correlated with each other; therefore, they are good candidates for portfolio diversification. On the other hand, EAFE a ...
... of Treasury bonds (EAFE). As for correlations between asset classes, corporate bonds, Treasury bonds, commodities possess low correlations with U.S. stocks and are also not highly correlated with each other; therefore, they are good candidates for portfolio diversification. On the other hand, EAFE a ...
Unresolved Issues in Modeling Credit Risky Assets
... name credit default swap instruments. We first consider how calibration can affect pricing and hedging. We start by considering a digital credit default swap. The great advantage of a digital is that the payoff if a credit event occurs is independent of the recovery rate on the reference entity. Dig ...
... name credit default swap instruments. We first consider how calibration can affect pricing and hedging. We start by considering a digital credit default swap. The great advantage of a digital is that the payoff if a credit event occurs is independent of the recovery rate on the reference entity. Dig ...
Banking crises and the lending channel: Evidence from industrial
... countries. More recent studies, however, highlight the relevance of institutions. Giannetti (2003) shows that the influence of institutional variables depends on firm size. She suggests that stronger creditor protection makes loans for investing in intangible assets more available and guarantees acc ...
... countries. More recent studies, however, highlight the relevance of institutions. Giannetti (2003) shows that the influence of institutional variables depends on firm size. She suggests that stronger creditor protection makes loans for investing in intangible assets more available and guarantees acc ...
Fair Value Accounting: Information or Confusion for Financial Markets?
... The recent financial crisis has led to a critical evaluation of the role that fair value accounting may have played in undermining the stability of the financial system. Reacting to the pressures of banking regulators and governments, standard-setters have brought forward additional guidance on the ...
... The recent financial crisis has led to a critical evaluation of the role that fair value accounting may have played in undermining the stability of the financial system. Reacting to the pressures of banking regulators and governments, standard-setters have brought forward additional guidance on the ...
- Interroll
... platform, which we successfully launched in the European markets in May 2014 and in the Asian markets in the fourth quarter of 2015. This innovative solution met with great interest among system integrators and equipment manufacturers at CeMAT Asia in Shanghai. Since the product was launched in Euro ...
... platform, which we successfully launched in the European markets in May 2014 and in the Asian markets in the fourth quarter of 2015. This innovative solution met with great interest among system integrators and equipment manufacturers at CeMAT Asia in Shanghai. Since the product was launched in Euro ...
Notes to the - Old Chang Kee
... together with the high costs of raw materials, will have an impact on profitability. Though the nature of our business is such that we have to maintain a certain level of personal service which, at most times, cannot be done by machines, the Group will nevertheless explore how we can better deploy m ...
... together with the high costs of raw materials, will have an impact on profitability. Though the nature of our business is such that we have to maintain a certain level of personal service which, at most times, cannot be done by machines, the Group will nevertheless explore how we can better deploy m ...
How to Discount Cashflows with Time
... Ludvigson (2001)), have forecasting power for market excess returns. Second, the CAPM assumes that the riskless rate is the appropriate oneperiod, or instantaneous, riskless rate, which in practice is typically proxied by a 1-month or a 3-month T-bill return. However, it is highly unlikely that over ...
... Ludvigson (2001)), have forecasting power for market excess returns. Second, the CAPM assumes that the riskless rate is the appropriate oneperiod, or instantaneous, riskless rate, which in practice is typically proxied by a 1-month or a 3-month T-bill return. However, it is highly unlikely that over ...
