CDS Spread Determinants
... We find that, in general, the results for the sub-sample periods are very similar to each other and to the whole sample period results. In general, our results in Table 4 suggest that the theoretical explanatory variables remain robust to explain the CDS spread for different time periods in Japan. ...
... We find that, in general, the results for the sub-sample periods are very similar to each other and to the whole sample period results. In general, our results in Table 4 suggest that the theoretical explanatory variables remain robust to explain the CDS spread for different time periods in Japan. ...
Bank bias in Europe - European Central Bank
... not credible. Once default occurs, the lender’s costs are sunk; if the borrower has another project with positive net present value, the bank will want to provide finance. Hence, the bank will renege on its ex ante threat to punish defaulters by continuing to extend credit – a practice known as “eve ...
... not credible. Once default occurs, the lender’s costs are sunk; if the borrower has another project with positive net present value, the bank will want to provide finance. Hence, the bank will renege on its ex ante threat to punish defaulters by continuing to extend credit – a practice known as “eve ...
1 The Aftermath of the Crisis: Regulation, Supervision and the Role
... international players, to self-regulate; we are grown-ups, we can take care of ourselves”. And, after all, “if someone makes mistakes some will gain what others lose; why can’t we be left alone to play this zero-sum game of ours?” The regulators did not, in fact, have either the ability, or the righ ...
... international players, to self-regulate; we are grown-ups, we can take care of ourselves”. And, after all, “if someone makes mistakes some will gain what others lose; why can’t we be left alone to play this zero-sum game of ours?” The regulators did not, in fact, have either the ability, or the righ ...
- Munich Personal RePEc Archive
... al. (2011) argue that a reallocation of resources could address China’s serious inefficiency and lead to fast growth over a prolonged transition. However, others maintain that financial distortion cannot be an impediment to China’s economic ...
... al. (2011) argue that a reallocation of resources could address China’s serious inefficiency and lead to fast growth over a prolonged transition. However, others maintain that financial distortion cannot be an impediment to China’s economic ...
Some preliminary proposals for re-regulating financial systems
... The current financial structure is the result of a process that started some decades ago when the management of international imbalances was increasingly left into the hands of private finance. This required both a more generalised opening of the capital account of the balance of payments and a mix ...
... The current financial structure is the result of a process that started some decades ago when the management of international imbalances was increasingly left into the hands of private finance. This required both a more generalised opening of the capital account of the balance of payments and a mix ...
pakistan to return to emerging markets
... processes which are intended to identify in a timely manner any such errors which would have a material impact on the investment process. Acadian Asset Management LLC has wholly owned affiliates located in London, Singapore, Sydney, and Tokyo. Pursuant to the terms of service level agreements with e ...
... processes which are intended to identify in a timely manner any such errors which would have a material impact on the investment process. Acadian Asset Management LLC has wholly owned affiliates located in London, Singapore, Sydney, and Tokyo. Pursuant to the terms of service level agreements with e ...
Credit Crisis and the Role of Banks During Transition: a Five
... enterprises, and highlights sharply differentiated patterns between countries and over subperiods. A rather general conclusion is that this apparent degree of financial pressure was on the whole weaker during the early periods of falling or stagnating levels of production and productivity. Conversel ...
... enterprises, and highlights sharply differentiated patterns between countries and over subperiods. A rather general conclusion is that this apparent degree of financial pressure was on the whole weaker during the early periods of falling or stagnating levels of production and productivity. Conversel ...
EN EN Results of in-depth reviews under Regulation (EU) No 1176
... is a key economic challenge. The analysis in section 3 indicates that the loss of export market shares can be linked to the deterioration of cost competitiveness in the decade leading up to the economic crisis, namely due to excessive wage growth during the overheating of the economy in 2006-2007. W ...
... is a key economic challenge. The analysis in section 3 indicates that the loss of export market shares can be linked to the deterioration of cost competitiveness in the decade leading up to the economic crisis, namely due to excessive wage growth during the overheating of the economy in 2006-2007. W ...
EDITragan_12ce_ch27
... borrowers have more information on their riskiness then lenders do – recall buying a used car. Moral Hazard – after the loan/investment, the borrower might have an incentive to act against the interest of the lender – eg. high executive salaries/no dividends –monitoring problem RESULT – too little l ...
... borrowers have more information on their riskiness then lenders do – recall buying a used car. Moral Hazard – after the loan/investment, the borrower might have an incentive to act against the interest of the lender – eg. high executive salaries/no dividends –monitoring problem RESULT – too little l ...
Stock Market Volatility and Monetary Regime Change:
... also call in their loans, some of which were for margin buying of stocks. This had the effect of not only depressing the stock market, but also could cause depositors to withdraw money from banks, leading to bank runs. Finally, the financial crisis could then spread to the real economy through the b ...
... also call in their loans, some of which were for margin buying of stocks. This had the effect of not only depressing the stock market, but also could cause depositors to withdraw money from banks, leading to bank runs. Finally, the financial crisis could then spread to the real economy through the b ...
Pindyck/Rubinfeld Microeconomics
... If the factory will last 20 years, then we must ask: What is the value today of $80,000 per month for the next 20 years? If that value is greater than $10 million, the investment was a good one. Is $80,000 five years—or 20 years—from now worth $80,000 today? Money received over time is less than mon ...
... If the factory will last 20 years, then we must ask: What is the value today of $80,000 per month for the next 20 years? If that value is greater than $10 million, the investment was a good one. Is $80,000 five years—or 20 years—from now worth $80,000 today? Money received over time is less than mon ...
the depression of 1873–1879
... money. Given the limited data, the interest rates used are the rates on 60–90 day commercial paper. Their movements are assumed to roughly mirror interest rates on general loans. It is important to ...
... money. Given the limited data, the interest rates used are the rates on 60–90 day commercial paper. Their movements are assumed to roughly mirror interest rates on general loans. It is important to ...
Why a Dual Mandate is Right for Monetary Policy
... Both theory and evidence indicate that in an economy like that of the United States monetary policy can affect not just prices but also output, employment and other important aspects of non-financial economic activity, and can affect them over at least some significant period of time. The relevant q ...
... Both theory and evidence indicate that in an economy like that of the United States monetary policy can affect not just prices but also output, employment and other important aspects of non-financial economic activity, and can affect them over at least some significant period of time. The relevant q ...
Global Golf Equipment Manufacturing Market 2014-2019: Trend, Profit and Forecast Analysis Brochure
... The global golf equipment manufacturing market declined during 2008-2013 and is forecast to grow at a CAGR of 1.9% and reach $7.1 billion by 2019. The competitive rivalry is high in the industry as the leading players try to grab the market and increase their profit by entering new regions and incre ...
... The global golf equipment manufacturing market declined during 2008-2013 and is forecast to grow at a CAGR of 1.9% and reach $7.1 billion by 2019. The competitive rivalry is high in the industry as the leading players try to grab the market and increase their profit by entering new regions and incre ...
Here - Gold Standard Institute
... alternative monetary asset today.” At the time, considering of course the source, this came across as something of a bombshell. “Why on earth is the president of the World Bank talking about gold?” many must have asked, scratching their heads. Well, one must consider to whom Mr Zoellick was speaking ...
... alternative monetary asset today.” At the time, considering of course the source, this came across as something of a bombshell. “Why on earth is the president of the World Bank talking about gold?” many must have asked, scratching their heads. Well, one must consider to whom Mr Zoellick was speaking ...
Not on My Watch – Keeping a Great Depression at Bay Living with
... that the money will be repaid with a negotiated return or interest rate. (2) We purchase an interest in a business or property with the expectation that management will increase the value of the asset and generate income, providing a return on our investment. In both cases we are making a value judg ...
... that the money will be repaid with a negotiated return or interest rate. (2) We purchase an interest in a business or property with the expectation that management will increase the value of the asset and generate income, providing a return on our investment. In both cases we are making a value judg ...
PAKISTAN STOCK EXCHANGE LIMITED Stock Exchange
... provided by the brokers and also thoroughly read and understand the specifications, terms and conditions which may include markup rate, risk disclosures etc. There are a number of additional risks that all customers need to consider while entering into derivative and leveraged market transactions. T ...
... provided by the brokers and also thoroughly read and understand the specifications, terms and conditions which may include markup rate, risk disclosures etc. There are a number of additional risks that all customers need to consider while entering into derivative and leveraged market transactions. T ...
Financial Crises, Bank Risk Exposure and Government Financial
... example, as we discuss below, a number of authors have suggested that such a risky bank liability structure was ultimately the product of expectations the government will intervene to stabilize financial markets in a crisis, just as it just did recently. With the existing macroeconomic frameworks it ...
... example, as we discuss below, a number of authors have suggested that such a risky bank liability structure was ultimately the product of expectations the government will intervene to stabilize financial markets in a crisis, just as it just did recently. With the existing macroeconomic frameworks it ...
Chap11
... the currency of the country where issued. Desire to lower cost of capital. Eurobonds: Underwritten by a bank syndicate and placed in countries other than the one in whose currency the bond is denominated. Issued by multinational corporations,large domestic corporations, and international institution ...
... the currency of the country where issued. Desire to lower cost of capital. Eurobonds: Underwritten by a bank syndicate and placed in countries other than the one in whose currency the bond is denominated. Issued by multinational corporations,large domestic corporations, and international institution ...
Entrepreneurship
... – Security in the form of assets that you pledge to a lender. If you don’t pay your loan, the lender can seize the asset ...
... – Security in the form of assets that you pledge to a lender. If you don’t pay your loan, the lender can seize the asset ...
Retail Markets: Management models
... Cottingham market is a rural market trading one day a week in the town centre square, and was previously managed by a private operator. Just over 13 years ago, the management announced that the market was to close with immediate effect. The traders decided to take over the management of the market. ...
... Cottingham market is a rural market trading one day a week in the town centre square, and was previously managed by a private operator. Just over 13 years ago, the management announced that the market was to close with immediate effect. The traders decided to take over the management of the market. ...
- Backpack
... • Helps in security selection by giving idea about investors’ income needs and desired risk exposure. • High demand and supply of the security results in low impact costs of trading and reduce liquidity risk. • Investors with shorter investment horizons prefer assets with low risk, like fixed-income ...
... • Helps in security selection by giving idea about investors’ income needs and desired risk exposure. • High demand and supply of the security results in low impact costs of trading and reduce liquidity risk. • Investors with shorter investment horizons prefer assets with low risk, like fixed-income ...
210115 The Dutch Pension System Chris Driessen
... The pension premium side Demography makes the premium weapon on the short term blunt Pension premium also too volatile in relation with the interest Pension premiums are very high [15-20% of the wage sum] Development in the direction of a stable premium on the long term Is a development in the direc ...
... The pension premium side Demography makes the premium weapon on the short term blunt Pension premium also too volatile in relation with the interest Pension premiums are very high [15-20% of the wage sum] Development in the direction of a stable premium on the long term Is a development in the direc ...
High-performing credit specialist pVe keeps a wary eye on
... lenty of European-based credit and structured credit managers racked up very impressive performance in last year’s generally buoyant market conditions, with more than a few making returns of 50% or more in a banner year for the credit asset class as a whole. But not many of them also managed to post ...
... lenty of European-based credit and structured credit managers racked up very impressive performance in last year’s generally buoyant market conditions, with more than a few making returns of 50% or more in a banner year for the credit asset class as a whole. But not many of them also managed to post ...
World Asset Markets and the Global Financial Cycle
... Cycle” (see Rey, 2013). There is a powerful transmission channel of US monetary policy across borders via credit flows, leverage of banks, risk premia and the term spread, emphasising the need for international macroeconomic models where financial intermediaries play an important role. ...
... Cycle” (see Rey, 2013). There is a powerful transmission channel of US monetary policy across borders via credit flows, leverage of banks, risk premia and the term spread, emphasising the need for international macroeconomic models where financial intermediaries play an important role. ...