paper - Jonathan Heathcote
... induce favorable changes in interest rates, the terms of trade, or both. The paper that is perhaps most closely related to ours is Costinot, Lorenzoni, and Werning (2014). In their setup, as in ours, countries can impose capital controls to obtain more favorable borrowing and lending rates. In contr ...
... induce favorable changes in interest rates, the terms of trade, or both. The paper that is perhaps most closely related to ours is Costinot, Lorenzoni, and Werning (2014). In their setup, as in ours, countries can impose capital controls to obtain more favorable borrowing and lending rates. In contr ...
2nd DFD_Beikos - Institutional capacity and cooperation
... Created by the Treaty of Rome in 1958 as the long-term lending bank of the EU Shareholders are the 27 Member States of the EU Policy driven Bank: raises funds on the capital markets which it lends on favourable terms to projects furthering EU policy objectives Operates on a non-profit maximising bas ...
... Created by the Treaty of Rome in 1958 as the long-term lending bank of the EU Shareholders are the 27 Member States of the EU Policy driven Bank: raises funds on the capital markets which it lends on favourable terms to projects furthering EU policy objectives Operates on a non-profit maximising bas ...
Central clearing: reaping the benefits, controlling the risks
... evidenced by the Financial Stability Board (FSB), there also seems to be scope for substantial further growth in central clearing, especially for interest rate swaps (IRS) and credit default swaps (CDS) (FSB, 2016). Inevitably, the increased share of central clearing has been associated with further ...
... evidenced by the Financial Stability Board (FSB), there also seems to be scope for substantial further growth in central clearing, especially for interest rate swaps (IRS) and credit default swaps (CDS) (FSB, 2016). Inevitably, the increased share of central clearing has been associated with further ...
Money market instruments
... information when making investment decisions on interest-bearing instruments. 2.1 For the sake of comparability, the interest rates and other yield measures are quoted on an annualized basis. The annual rate is the rate based on the assumption that the maturity of the quoted instrument is one year. ...
... information when making investment decisions on interest-bearing instruments. 2.1 For the sake of comparability, the interest rates and other yield measures are quoted on an annualized basis. The annual rate is the rate based on the assumption that the maturity of the quoted instrument is one year. ...
NBER WORKING PAPER SERIES COST OF EQUITY CAPITAL?
... a categorical variable, which indicates whether a firm pays dividends, and exclude a measure of financial constraint, the coefficient on dividend policy loads in a manner that suggests non-dividend-paying firms enjoyed a larger reduction in the cost of equity capital than did dividend-paying firms ...
... a categorical variable, which indicates whether a firm pays dividends, and exclude a measure of financial constraint, the coefficient on dividend policy loads in a manner that suggests non-dividend-paying firms enjoyed a larger reduction in the cost of equity capital than did dividend-paying firms ...
Ed Yardeni - EuroCapital
... were fearful of the sovereign debt crisis in Europe, credit tightening in China, and a double-dip in the US. I argued that the three legs of this stool would not collapse as widely feared at the time. This sanguine assessment became increasingly credible since the end of the summer, which is why th ...
... were fearful of the sovereign debt crisis in Europe, credit tightening in China, and a double-dip in the US. I argued that the three legs of this stool would not collapse as widely feared at the time. This sanguine assessment became increasingly credible since the end of the summer, which is why th ...
Basics and Problems - Ace MBAe Finance Specialization
... analysis may be appropriate, in which you compare the firm to a subset of firms within the industry that are comparable in size or characteristics. As an example, if you were interested in Kroger, you would want to compare its performance to that of other national food chains rather than some regio ...
... analysis may be appropriate, in which you compare the firm to a subset of firms within the industry that are comparable in size or characteristics. As an example, if you were interested in Kroger, you would want to compare its performance to that of other national food chains rather than some regio ...
Making a difference - Bank of The Bahamas
... Bahamas was in its infancy, two years after the nascent institution was carved from what had been the domestic sector of Bank of Montreal. He brought to the post his many years of experience as head of Barclays, his wisdom and, perhaps most importantly, his boundless belief in the potential of Baham ...
... Bahamas was in its infancy, two years after the nascent institution was carved from what had been the domestic sector of Bank of Montreal. He brought to the post his many years of experience as head of Barclays, his wisdom and, perhaps most importantly, his boundless belief in the potential of Baham ...
Vol. 17, No. 2, December 2010
... and the economies depend on oil imports, making these countries vulnerable to terms of trade and other supply shocks. The region initiated liberalizing reforms in the 1990s. The reforms brought on shocks to the economies but, over time, they created greater diversity and deeper markets that paved th ...
... and the economies depend on oil imports, making these countries vulnerable to terms of trade and other supply shocks. The region initiated liberalizing reforms in the 1990s. The reforms brought on shocks to the economies but, over time, they created greater diversity and deeper markets that paved th ...
Measures to Increase Capital Formation
... Capital formation means a situation where the society does not consume whole of its current income but directs a part of it for making capital goods like instruments, machines, plants, equipments, transport facilities, finished & semi-finished good. All this means that capital formation is the proce ...
... Capital formation means a situation where the society does not consume whole of its current income but directs a part of it for making capital goods like instruments, machines, plants, equipments, transport facilities, finished & semi-finished good. All this means that capital formation is the proce ...
Another view on the pricing of MBSs, CMOs and CDOs of ABSs
... number of parameters and the huge number of underlying processes prevent such a “brute force” approach. Note that this difficulty already appears with most synthetic corporate CDOs, ie, in the case of default risk only and without amortisation features. Using Zhou (2001), we can check the complexity ...
... number of parameters and the huge number of underlying processes prevent such a “brute force” approach. Note that this difficulty already appears with most synthetic corporate CDOs, ie, in the case of default risk only and without amortisation features. Using Zhou (2001), we can check the complexity ...
The Case for shorT-MaTuriTy, higher QualiTy, high yield
... also note that, at the time of this writing in January 2012, credit quality is healthy and defaults are expected to remain below average over the next several years. Refinancing Risk: The second risk is refinancing risk. Quite simply, the success of a strategy employing short-maturity, higher qual ...
... also note that, at the time of this writing in January 2012, credit quality is healthy and defaults are expected to remain below average over the next several years. Refinancing Risk: The second risk is refinancing risk. Quite simply, the success of a strategy employing short-maturity, higher qual ...
Integrated Approach to Managing Risk and
... into account. This valuation does not include the growth of the loan, mortgages, savings or other items of the balance sheet. The value of the bank may have a higher value taking growth into account. This surplus value is also called equity value or embedded value of the bank. The relationship betwe ...
... into account. This valuation does not include the growth of the loan, mortgages, savings or other items of the balance sheet. The value of the bank may have a higher value taking growth into account. This surplus value is also called equity value or embedded value of the bank. The relationship betwe ...
Q4 2016 Eastman Chemical Company Earnings Conference Call
... our Form 10-K to be filed for 2016 for risks and uncertainties which could cause actual results to differ materially from current expectations. ...
... our Form 10-K to be filed for 2016 for risks and uncertainties which could cause actual results to differ materially from current expectations. ...
The Great Escape? A Quantitative Evaluation of the Fed`s Liquidity
... of this propagation as capturing a central aspect of the crisis. We embed the KM credit frictions in a relatively standard dynamic stochastic general equilibrium (DSGE) model along the lines of Christiano et al. (2005) and Smets and Wouters (2007). The model features nominal and real frictions, suc ...
... of this propagation as capturing a central aspect of the crisis. We embed the KM credit frictions in a relatively standard dynamic stochastic general equilibrium (DSGE) model along the lines of Christiano et al. (2005) and Smets and Wouters (2007). The model features nominal and real frictions, suc ...
EUROPEAN COMMISSION Brussels, 22.2.2017 SWD(2017) 91 final
... opening up services sectors such as retail trade to competition, and a number of other domestic service sectors, including taxis, have been identified as candidates for future reform. While international comparisons rank Finland among the leading countries in the world in terms of its business envir ...
... opening up services sectors such as retail trade to competition, and a number of other domestic service sectors, including taxis, have been identified as candidates for future reform. While international comparisons rank Finland among the leading countries in the world in terms of its business envir ...
Financial System Inquiry - The Australian Financial Markets
... system to meet the needs of businesses and households. The forward looking nature of the Inquiry gives it an important role in anticipating the financial services required to support our economy and in shaping the features of a financial system that will most effectively achieve this. AFMA’s submiss ...
... system to meet the needs of businesses and households. The forward looking nature of the Inquiry gives it an important role in anticipating the financial services required to support our economy and in shaping the features of a financial system that will most effectively achieve this. AFMA’s submiss ...
econ-212-session-12
... transactions in goods, services, and assets with the rest of the world; also the record of a country’s sources (supply) and uses (demand) of foreign exchange. It is statement that summarizes an economy’s transactions with the rest of the world for a specified time period. The balance of payments, ...
... transactions in goods, services, and assets with the rest of the world; also the record of a country’s sources (supply) and uses (demand) of foreign exchange. It is statement that summarizes an economy’s transactions with the rest of the world for a specified time period. The balance of payments, ...
Bank CEO Incentives and the Credit Crisis
... CEOs would have had to be able to anticipate the crisis. We investigate the insider trading of bank CEOs in 2007-2008. We find no evidence that they traded out of their positions. CEOs therefore had to bear the losses associated with the poor outcomes of the exposures their banks had at the end of ...
... CEOs would have had to be able to anticipate the crisis. We investigate the insider trading of bank CEOs in 2007-2008. We find no evidence that they traded out of their positions. CEOs therefore had to bear the losses associated with the poor outcomes of the exposures their banks had at the end of ...
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.