Macroprudential Policy Frameworks and Tools
... tools, such as caps on loan-to-value ratios (LVRs), to target particular sources of systemic risk. Systemic risk can build over time (the time dimension) or be related to the distribution of risk in the financial system (the cross-sectional dimension). In addition to addressing the sources of risk, ...
... tools, such as caps on loan-to-value ratios (LVRs), to target particular sources of systemic risk. Systemic risk can build over time (the time dimension) or be related to the distribution of risk in the financial system (the cross-sectional dimension). In addition to addressing the sources of risk, ...
Paper - Cowles Foundation
... periods of alternately high and low birth rates, generating the successive Baby Boom and Bust generations of the 1910’s, 30’s, 50’s, and 70’s and 90’s–the most famous and remarkable being the post war Baby Boom generation of the 1950’s. To mimic in broad outline the demographic changes that have occ ...
... periods of alternately high and low birth rates, generating the successive Baby Boom and Bust generations of the 1910’s, 30’s, 50’s, and 70’s and 90’s–the most famous and remarkable being the post war Baby Boom generation of the 1950’s. To mimic in broad outline the demographic changes that have occ ...
Aareal Bank Group – Interim Report Q1/2015
... Bank’s second major acquisition within just over twelve months – a purchase which we are financing completely from the Bank‘s own funds, as with the Corealcredit acquisition. The WestImmo transaction is expected to be completed during the first half of 2015. We have thus exploited an attractive opp ...
... Bank’s second major acquisition within just over twelve months – a purchase which we are financing completely from the Bank‘s own funds, as with the Corealcredit acquisition. The WestImmo transaction is expected to be completed during the first half of 2015. We have thus exploited an attractive opp ...
Price elasticity of demand for gasoline=0.06
... more hot dogs, providing a fine illustration of the first law of demand, which says that consumers demand more as price falls, assuming other factors are held constant. This makes intuitive sense. We’ve all been there. That first hot dog is amazing and extremely satisfying. The second might still b ...
... more hot dogs, providing a fine illustration of the first law of demand, which says that consumers demand more as price falls, assuming other factors are held constant. This makes intuitive sense. We’ve all been there. That first hot dog is amazing and extremely satisfying. The second might still b ...
Capacity market design policies - E
... • Low power prices and few hours of operation undermines the profitability of existing flexible generation • Problems likely to be caused by lack of re-investment and closure/mothballing ...
... • Low power prices and few hours of operation undermines the profitability of existing flexible generation • Problems likely to be caused by lack of re-investment and closure/mothballing ...
U.S. Household Debt, 1975- 2007
... number of personal bankruptcy filings in the US quadrupled. (Lopes 769) As of 2005, the US had the highest bankruptcy rate in the world. (Erasmus and Lebani 212) Measuring the number of bankruptcies since then has been made harder by the Bankruptcy Abuse Prevention and Consumer Protection Act, which ...
... number of personal bankruptcy filings in the US quadrupled. (Lopes 769) As of 2005, the US had the highest bankruptcy rate in the world. (Erasmus and Lebani 212) Measuring the number of bankruptcies since then has been made harder by the Bankruptcy Abuse Prevention and Consumer Protection Act, which ...
This PDF is a selection from a published volume from
... total) by the families covered in the large nationwide 1935—36 WPABLS Consumer Purchases Study. Although the quality of the raw sample data was recognized to be less than ideal, and provided a snapshot for only one year, critically important knowledge on the structure of demand for consumer credit b ...
... total) by the families covered in the large nationwide 1935—36 WPABLS Consumer Purchases Study. Although the quality of the raw sample data was recognized to be less than ideal, and provided a snapshot for only one year, critically important knowledge on the structure of demand for consumer credit b ...
Food Commodity Prices Volatility: The Role of Biofuels
... A number of authors have discussed the factors lying behind the spikes though no agreement has been reached on the cause of these phenomena. Rapid economic growth in China and other Asian emerging economies, decades of underinvestment in agriculture, low inventory levels, poor harvests, depreciation ...
... A number of authors have discussed the factors lying behind the spikes though no agreement has been reached on the cause of these phenomena. Rapid economic growth in China and other Asian emerging economies, decades of underinvestment in agriculture, low inventory levels, poor harvests, depreciation ...
NBER WORKING PAPER SERIES TO 2007 Patrick Bajari
... depart from the previous literature by allowing for default to result from either of two latent causes: …nancial incentives making default the action that maximizes lifetime utility and binding household liquidity constraints. The likelihood function of our model takes into account the fact that we ...
... depart from the previous literature by allowing for default to result from either of two latent causes: …nancial incentives making default the action that maximizes lifetime utility and binding household liquidity constraints. The likelihood function of our model takes into account the fact that we ...
docx Role of Accounting in the Financial Crisis
... form of highly-priced instruments such as the sub-prime loans that were popular during this ...
... form of highly-priced instruments such as the sub-prime loans that were popular during this ...
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... mind,17 nor that public investment associated with the mortgage market inevitably expands home ownership.18 Certain terminology deserves up-front explanation as well. This Essay’s references to “home exit” mean parting with ownership of particular property. Ideally, this need not be construed as a p ...
... mind,17 nor that public investment associated with the mortgage market inevitably expands home ownership.18 Certain terminology deserves up-front explanation as well. This Essay’s references to “home exit” mean parting with ownership of particular property. Ideally, this need not be construed as a p ...
LIQUIDITY PAPER v4 - Institute and Faculty of Actuaries
... Listed bonds and equities can usually be sold quickly to raise cash, but the price attained will depend on the type of security and the amount sold, both in absolute terms and as a proportion of the total issue of that particular security. Listed asset prices are usually quoted on the basis of a cer ...
... Listed bonds and equities can usually be sold quickly to raise cash, but the price attained will depend on the type of security and the amount sold, both in absolute terms and as a proportion of the total issue of that particular security. Listed asset prices are usually quoted on the basis of a cer ...
Monthly Investment Commentary
... developed world. As we’ve discussed previously, deleveraging creates a headwind for economic growth, and high debt levels make for a much higher-than-normal global risk environment. These debt-related problems also increase the odds of economic policy errors that could make things worse. We don’t be ...
... developed world. As we’ve discussed previously, deleveraging creates a headwind for economic growth, and high debt levels make for a much higher-than-normal global risk environment. These debt-related problems also increase the odds of economic policy errors that could make things worse. We don’t be ...
Sarik, Vidak - European Commission
... also includes lending from the central bank to troubled institutions as part of the central bank’s lender of last resort role or exceptional, direct government infusion of cash into TBTF institutions in form of too-big-to-fail policy (Mishkin 2005). The extension of government safety net is an indi ...
... also includes lending from the central bank to troubled institutions as part of the central bank’s lender of last resort role or exceptional, direct government infusion of cash into TBTF institutions in form of too-big-to-fail policy (Mishkin 2005). The extension of government safety net is an indi ...
System for Dissemination of Reference Statistical Prices (Yields) for
... Reference statistical prices (yields) disseminated by JSDA may serve as reference information for OTC trading. However, such dissemination does not guarantee that JSDA members will execute their bond transactions with other members or their customers at the reference prices. In addition, reference s ...
... Reference statistical prices (yields) disseminated by JSDA may serve as reference information for OTC trading. However, such dissemination does not guarantee that JSDA members will execute their bond transactions with other members or their customers at the reference prices. In addition, reference s ...
Karlstad Business School Kundju Atem, Robert Paper on Financial
... seems to face debate and challenges from financial pundits, politicians, bankers etc on their values of financial assets at fair value disclosure. Evidence is drawn from financial intermediaries. Many financial intermediaries have witnessed difficulties of valuing financial instruments and investmen ...
... seems to face debate and challenges from financial pundits, politicians, bankers etc on their values of financial assets at fair value disclosure. Evidence is drawn from financial intermediaries. Many financial intermediaries have witnessed difficulties of valuing financial instruments and investmen ...
United States housing bubble
The United States housing bubble was an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012. On December 30, 2008, the Case-Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is—according to general consensus—the primary cause of the 2007–2009 recession in the United States.Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble ""the most significant risk to our economy.""Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Wall Street hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. Concerns about the impact of the collapsing housing and credit markets on the larger U.S. economy caused President George W. Bush and the Chairman of the Federal Reserve Ben Bernanke to announce a limited bailout of the U.S. housing market for homeowners who were unable to pay their mortgage debts.In 2008 alone, the United States government allocated over $900 billion to special loans and rescues related to the U.S. housing bubble, with over half going to Fannie Mae and Freddie Mac (both of which are government-sponsored enterprises) as well as the Federal Housing Administration. On December 24, 2009, the Treasury Department made an unprecedented announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years despite acknowledging losses in excess of $400 billion so far. The Treasury has been criticized for encroaching on spending powers that are enumerated for Congress alone by the United States Constitution, and for violating limits imposed by the Housing and Economic Recovery Act of 2008.