In this and previous economic downturns, hotel investments showed
... the bottom line as cash flow available to the owner or as net operating income margin in a typical managed or franchised hotel has generally declined. This change magnifies the impact that a decrease in RevPAR will have on cash flow available to pay debt service. Compared to prior cycles, hotels ent ...
... the bottom line as cash flow available to the owner or as net operating income margin in a typical managed or franchised hotel has generally declined. This change magnifies the impact that a decrease in RevPAR will have on cash flow available to pay debt service. Compared to prior cycles, hotels ent ...
Internet Assignment
... that Low-Cal may have great difficulty in remaining solvent in the long run. It does not imply, however, that the company is not currently solvent. Short-term creditors, because of their shorter investment horizon, should be concerned about the current relationships between the company’s liquid reso ...
... that Low-Cal may have great difficulty in remaining solvent in the long run. It does not imply, however, that the company is not currently solvent. Short-term creditors, because of their shorter investment horizon, should be concerned about the current relationships between the company’s liquid reso ...
This PDF is a selection from a published volume from... Economic Research Volume Title: NBER International Seminar on Macroeconomics 2007
... goods and claims to futuregoods- which should bring similarbenefits as liberalizationof trade of regulargoods. These volatile swings, however, raise concernsabout the potential costs of capital accountliberalization. In a recent book, Obstfeld and Taylor(2004) analyze the flows and ebbs of internati ...
... goods and claims to futuregoods- which should bring similarbenefits as liberalizationof trade of regulargoods. These volatile swings, however, raise concernsabout the potential costs of capital accountliberalization. In a recent book, Obstfeld and Taylor(2004) analyze the flows and ebbs of internati ...
Updating the Discount Rate Used for Benefit-Cost Analysis
... risk.3 If you ask me for $100 now and promise to pay me the $100 back in a year, I’m going to say no. If I give you that $100, I’ll lose the option of using it myself to buy something I need or want right now. I’ll also lose the option of saving that $100 and earning interest. Finally, there’s the ...
... risk.3 If you ask me for $100 now and promise to pay me the $100 back in a year, I’m going to say no. If I give you that $100, I’ll lose the option of using it myself to buy something I need or want right now. I’ll also lose the option of saving that $100 and earning interest. Finally, there’s the ...
Official Information of 27 June 2012
... calculate the capital requirement for credit risk. 2. Pursuant to Article 8b(1)(b) and Article 8b(2) of the Act on Banks, respectively Article 7a(1)(b) and Article 7a(2) of the Act on Credit Unions in connection with Article 24(1) and (4) and Article 29(1) of Decree No. 123/2007 Coll., stipulating t ...
... calculate the capital requirement for credit risk. 2. Pursuant to Article 8b(1)(b) and Article 8b(2) of the Act on Banks, respectively Article 7a(1)(b) and Article 7a(2) of the Act on Credit Unions in connection with Article 24(1) and (4) and Article 29(1) of Decree No. 123/2007 Coll., stipulating t ...
NBER WORKING PAPER SERIES US AFTER 2001 Lawrence Christiano
... It is sometimes tempting to establish comparisons across central banks’ policies over the cycle on the basis of the extent to which they move their instruments in a fraction of time. A central bank that moves its policy rate around abruptly would under this measure be viewed as very responsive to th ...
... It is sometimes tempting to establish comparisons across central banks’ policies over the cycle on the basis of the extent to which they move their instruments in a fraction of time. A central bank that moves its policy rate around abruptly would under this measure be viewed as very responsive to th ...
Interest Rates and Monetary Policy Uncertainty
... marketable wealth of households or not plays a crucial role in the pricing of nominal bonds. This is because in this paper unexpected money growth conveys information about future money growth and hence affects the stock of real balances. In a model with infinitely-lived agents, perfect markets and ...
... marketable wealth of households or not plays a crucial role in the pricing of nominal bonds. This is because in this paper unexpected money growth conveys information about future money growth and hence affects the stock of real balances. In a model with infinitely-lived agents, perfect markets and ...
Market-specific and Currency-specific Risk during the
... suggests the importance of distinguishing not only between credit risk and liquidity risk but also between liquidity risks denominated in different currencies. ...
... suggests the importance of distinguishing not only between credit risk and liquidity risk but also between liquidity risks denominated in different currencies. ...
press release
... noticeably during the second quarter with a volume of only $1.3 billion as compared with $5.1 billion during Q1 2009.(17) Loan repayments increase in Europe: Repayments for issuers represented in the S&P European Loan Index rose to €1.6 billion during Q2 2009, up from a low of €412 million during ...
... noticeably during the second quarter with a volume of only $1.3 billion as compared with $5.1 billion during Q1 2009.(17) Loan repayments increase in Europe: Repayments for issuers represented in the S&P European Loan Index rose to €1.6 billion during Q2 2009, up from a low of €412 million during ...
Lecture 09: Multi-period Model Fixed Income, Futures, Swaps
... • If on a given date the forward curve is upward-sloping, then the market is in contango. If the forward curve is downward sloping, the market is in backwardation. Note that forward curves can have portions in backwardation and portions in contango. ...
... • If on a given date the forward curve is upward-sloping, then the market is in contango. If the forward curve is downward sloping, the market is in backwardation. Note that forward curves can have portions in backwardation and portions in contango. ...
NBER WORKING PAPER SERIES Katheryn N. Russ Diego Valderrama
... allows us to study the impact of exogenous changes in iceberg trade costs on measures of financial development in a brand new way. An change in the iceberg cost might be caused by tariff reductions; special export processing zones; or improved access to transport through investments in infrastructur ...
... allows us to study the impact of exogenous changes in iceberg trade costs on measures of financial development in a brand new way. An change in the iceberg cost might be caused by tariff reductions; special export processing zones; or improved access to transport through investments in infrastructur ...
APRA Insight Issue 2 2012 - Australian Prudential Regulation Authority
... With pressure on revenues in the current operating environment, ADIs have increased their focus on strategic initiatives and increasing efficiency. Where strategies involve expansion into new markets and products, APRA has warned that they need to be supported by rigorous planning and appropriate en ...
... With pressure on revenues in the current operating environment, ADIs have increased their focus on strategic initiatives and increasing efficiency. Where strategies involve expansion into new markets and products, APRA has warned that they need to be supported by rigorous planning and appropriate en ...
... are kept constant at current levels for some time followed by limited increases starting from the last quarter of 2011, with policy rates staying in single digits throughout the forecast horizon (3 years). In this respect, non-rate tools will be actively used in order to address the risks on financi ...
Central Bank of the Republic of China (Taiwan)
... policies in major advanced economies alongside more neutral fiscal policy relaxations that offset the adverse impacts of the economic slowdown in emerging economies. However, against the backdrop of a prolonged period of monetary policy easing and a low-interest-rate environment, herding among portf ...
... policies in major advanced economies alongside more neutral fiscal policy relaxations that offset the adverse impacts of the economic slowdown in emerging economies. However, against the backdrop of a prolonged period of monetary policy easing and a low-interest-rate environment, herding among portf ...
Yield Curve Primer
... The yield curve provides a reference tool for comparing bond yields and maturities that can be used for several purposes. First, the yield curve has an impressive record as a leading indicator of economic conditions, alerting investors to an imminent recession or signaling an economic upturn, as not ...
... The yield curve provides a reference tool for comparing bond yields and maturities that can be used for several purposes. First, the yield curve has an impressive record as a leading indicator of economic conditions, alerting investors to an imminent recession or signaling an economic upturn, as not ...
Major banks analysis
... against the comparable period. However, similar to our previous major banks analysis, total combined credit impairments of the major banks show increases over a rolling year-on-year period, growing 10.8% against 2H14 as a result of latent credit stresses, both realised and unrealised, that remain wi ...
... against the comparable period. However, similar to our previous major banks analysis, total combined credit impairments of the major banks show increases over a rolling year-on-year period, growing 10.8% against 2H14 as a result of latent credit stresses, both realised and unrealised, that remain wi ...