Economic Bulletin - September 1997
... December 1996 (chart 5). In the first seven months of 1997, the differential of the Portuguese inflation rate vis-à-vis the reference value for the price stability criterion decreased by 0.6 percentage points. The Banco de Portugal takes as the relevant reference for conducting the monetary policy a ...
... December 1996 (chart 5). In the first seven months of 1997, the differential of the Portuguese inflation rate vis-à-vis the reference value for the price stability criterion decreased by 0.6 percentage points. The Banco de Portugal takes as the relevant reference for conducting the monetary policy a ...
Better banks for Eastern Europe
... (5) Specific banks and firms are tied to each other in various ways that impede competition between banks and grossly distort financial flows. To facilitate financial control under central planning, firms were forced in the past to deal almost exclusively with a specific bank, and banks were specia ...
... (5) Specific banks and firms are tied to each other in various ways that impede competition between banks and grossly distort financial flows. To facilitate financial control under central planning, firms were forced in the past to deal almost exclusively with a specific bank, and banks were specia ...
NBER WORKING PAPER SERIES EXPLAINING DEVIATIONS FROM UNCOVERED INTEREST PARITY Robert E. Cumby
... forward speculation. We consider the U.S. dollar relative to five currencies, the U.K. pound sterling, Deutsche mark, Canadian dollar, Swiss franc, and French franc, over the period January 1974 to December 1986. ...
... forward speculation. We consider the U.S. dollar relative to five currencies, the U.K. pound sterling, Deutsche mark, Canadian dollar, Swiss franc, and French franc, over the period January 1974 to December 1986. ...
Adverse Selection and Risk Aversion in Capital Markets
... allow for risk aversion on the part of entrepreneurs. We use the new model to analyze two types of policies. We first consider policies that would allow entrepreneurs to use a greater fraction of their total wealth in financing their projects, thus allowing them to reduce reliance on debt or equity ...
... allow for risk aversion on the part of entrepreneurs. We use the new model to analyze two types of policies. We first consider policies that would allow entrepreneurs to use a greater fraction of their total wealth in financing their projects, thus allowing them to reduce reliance on debt or equity ...
Stock Prices in the Presence of Liquidity Crises
... than in countries and years with low index of creditor rights. One possible concern with this evidence is that creditor rights index, while available for a panel of countries, does not change much over time, thus exaggerating significance levels of the t-tests. Thus, the second panel of Table 2 prese ...
... than in countries and years with low index of creditor rights. One possible concern with this evidence is that creditor rights index, while available for a panel of countries, does not change much over time, thus exaggerating significance levels of the t-tests. Thus, the second panel of Table 2 prese ...
Equilibrium existence in the international asset and good
... Most of the international asset pricing models rest on partial equilibrium arguments. The exchange rates are exogenous and the purchasing power parity or the interest rate parity are violated. Deviations from the uncovered interest rate parity due to different risk perception, limited market partici ...
... Most of the international asset pricing models rest on partial equilibrium arguments. The exchange rates are exogenous and the purchasing power parity or the interest rate parity are violated. Deviations from the uncovered interest rate parity due to different risk perception, limited market partici ...
here - Resi Mortgage
... Mr Peter James, Managing Director of RESI Mortgage Corporation said “the new ownership is an important strategic move for the business, set to deliver outstanding opportunity for diversification, innovation and growth.” “Both companies share a common vision” he said “to provide a genuine diversified ...
... Mr Peter James, Managing Director of RESI Mortgage Corporation said “the new ownership is an important strategic move for the business, set to deliver outstanding opportunity for diversification, innovation and growth.” “Both companies share a common vision” he said “to provide a genuine diversified ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... This paper presents an empirical study of long-run real exchange rate movements from the consumption perspective. In most industrial countries, private consumption and the real exchange rate both have clear trends but exhibit different fluctuations. If the real exchange rate (or the relative price o ...
... This paper presents an empirical study of long-run real exchange rate movements from the consumption perspective. In most industrial countries, private consumption and the real exchange rate both have clear trends but exhibit different fluctuations. If the real exchange rate (or the relative price o ...
China Marine Food Group Ltd CMFO
... (“Users”) and should not be the sole piece of information used by such Users or their clients in making an investment decision. While Morningstar has obtained data, statistics and information from sources it believes to be reliable, Morningstar does not perform an audit or seeks independent verifica ...
... (“Users”) and should not be the sole piece of information used by such Users or their clients in making an investment decision. While Morningstar has obtained data, statistics and information from sources it believes to be reliable, Morningstar does not perform an audit or seeks independent verifica ...
Celgene Corp CELG
... responsible for overseeing the methodology that supports the quantitative equity ratings used in this report. As an employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.’s Code of Ethics and Personal Securities Trading Policy in carrying out his responsibilities. Quantitative Eq ...
... responsible for overseeing the methodology that supports the quantitative equity ratings used in this report. As an employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.’s Code of Ethics and Personal Securities Trading Policy in carrying out his responsibilities. Quantitative Eq ...
U.S. Banking Regulators Finalize Minimum Margin Requirements for
... The Final Margin Rules also require a swap entity to collect and post initial margin for uncleared swaps with counterparties that are swap dealers, major swap participants, security-based swap dealers, major security-based swap participants or “financial end users with material swaps exposure.” In t ...
... The Final Margin Rules also require a swap entity to collect and post initial margin for uncleared swaps with counterparties that are swap dealers, major swap participants, security-based swap dealers, major security-based swap participants or “financial end users with material swaps exposure.” In t ...
and confirmation bias can affect decision making
... Amy found the perfect house. She knows she can withdraw her savings to pay on this house and borrow the remaining balance from her father at zero percent interest. However, Amy is refusing now to buy any house until her savings increase in value back to their $110,000 previous valuation. Amy is disp ...
... Amy found the perfect house. She knows she can withdraw her savings to pay on this house and borrow the remaining balance from her father at zero percent interest. However, Amy is refusing now to buy any house until her savings increase in value back to their $110,000 previous valuation. Amy is disp ...
public debt
... • Public debt refers to government debt. It refers to Government borrowings from individuals, financial institutions, organisations and foreign countries. If revenue collected through taxes and other sources is not adequate to cover expenditure, the government may resort to borrowings. Thus public d ...
... • Public debt refers to government debt. It refers to Government borrowings from individuals, financial institutions, organisations and foreign countries. If revenue collected through taxes and other sources is not adequate to cover expenditure, the government may resort to borrowings. Thus public d ...
Atlantia Low risk, high return
... (substantially in line with our former TP of EUR 28.65) is supported by a combination of limited downside risk and good potential upside. Green light to the new tariff scheme expected in the next few months. Independent from the outcome of the mid-April general elections, one of the priorities of th ...
... (substantially in line with our former TP of EUR 28.65) is supported by a combination of limited downside risk and good potential upside. Green light to the new tariff scheme expected in the next few months. Independent from the outcome of the mid-April general elections, one of the priorities of th ...
Financialization
Financialization is a term sometimes used in discussions of the financial capitalism that has developed over the decades between 1980 and 2010, in which financial leverage tended to override capital (equity), and financial markets tended to dominate over the traditional industrial economy and agricultural economics.Financialization describes an economic system or process that attempts to reduce all value that is exchanged (whether tangible or intangible, future or present promises, etc.) into a financial instrument. The intent of financialization is to be able to reduce any work product or service to an exchangeable financial instrument, like currency, and thus make it easier for people to trade these financial instruments.Workers, through a financial instrument such as a mortgage, may trade their promise of future work or wages for a home. The financialization of risk sharing is what makes possible all insurance. The financialization of a government's promises (e.g., US government bonds) is what makes possible all government deficit spending. Financialization also makes economic rents possible.