Financial reporting developments: Asset Retirement Obligations
... Throughout this publication references to guidance in the codification are shown using these reference
numbers. References are also made to certain pre-codification standards (and specific sections or
paragraphs of pre-Codification standards) in situations in which the content being discussed is exc ...
Margin regulation and volatility - ECB
... the securities that are purchased. The margin requirement dictates how much investors can
borrow against these securities. The FRB established Regulation T to set minimum margin
requirements for such partially loan-financed transactions of exchange-traded securities. However,
the majority of empiric ...
IPSAS 26 Impairment of Cash-Generating Assets
... Irrespective of whether there is any indication of impairment, an entity
shall also test an intangible asset with an indefinite useful life or an
intangible asset not yet available for use for impairment annually by
comparing its carrying amount with its recoverable amount. This
impairment test may ...
A Model of Capital and Crises Zhiguo He Arvind Krishnamurthy May 2011
... Most of our model’s results can be understood by focusing on the dynamics of the equity capital
constraint. Consider a given state, described by the specialists’ wealth Wt and the households’
wealth Wth . The capital constraint requires that the household can invest at most mWt (which
may be less t ...
International Financial Reporting Standard 13 Fair Value
... Fair value is a market-based measurement, not an entity-specific measurement. For some assets and
liabilities, observable market transactions or market information might be available. For other assets and
liabilities, observable market transactions and market information might not be available. Howe ...
Belief Heterogeneity, Collateral Constraint, and Asset Prices with a
... including Heathcote and Perri (2011). The movement in wealth distribution also generates
the patterns of booms and busts observed in Burnside, Eichenbaum, and Rebelo (2011).
The second set of results that follows from this framework concerns collateral shortages.
I show that collateral constraints w ...
AN INTERTEMPORAL ASSET PRICING MODEL WITH
... investment opportunities. General versions of the ‘mutuaJ fund’ theorem of
Merton (1973) and Long (1974) and of their multi-beta CAPM are briefly
derived. The single-beta, single-good intertemporal CAPM as described
above is derived and discussed in section 3. This derivation also generalizes a
Liquidity Flooding, Asset Prices and the Real EconomyWe are
... liquidity they can access. For sector II, with lower asset specificity, optimistic firms are able to
leverage more when buying, considering that their lower asset specificity raises debt capacity
more (Williamson (1988)). Therefore, the asset price in sector II responds more strongly to
liquidity in ...
... seminal paper by Lucas (1978) in an exchange economy setting. Cox, Ingersoll and Ross (1985a) developed a general equilibrium framework for asset
pricing in a continuous-time setting production economy. It is important to
note that while this paper was published in 1985, the central ideas of the
Gunduz Caginalp is a mathematician whose research has also contributed over 100 papers to physics, materials science and economics/finance journals, including two with Prof. Michael Fisher and nine with Nobel Laureate Prof. Vernon Smith. He started Cornell University in 1970 and received an AB in 1973 ""Cum Laude with Honors in All Subjects"" and Phi Beta Kappa, Master's in 1976 and PhD in 1978. He has held positions at The Rockefeller University, Carnegie-Mellon University and the University of Pittsburgh (since 1984), where he is currently Professor of Mathematics. He was born in Turkey, and spent his first seven years and ages 13–16 there, and the middle years in New York City.Prof. Caginalp was married in 1992 to Eva. They have three sons, Carey, Reggie and Ryan.He served as the Editor of the Journal of Behavioral Finance (1999-2003), and is an Associate Editor for numerous journals. He has been the recipient of National Science Foundation and private foundation awards.