Defaultable Debt, Interest Rates and the Current Account
... rates seen in Latin America. For example, Argentina defaulted or rescheduled debt five times in a 180 year period (Reinhart, Rogoff, Savastana (2003)). We bring the default rate closer to that observed empirically for Latin America by introducing third-party bail-outs. Modest bailouts raise the rate ...
... rates seen in Latin America. For example, Argentina defaulted or rescheduled debt five times in a 180 year period (Reinhart, Rogoff, Savastana (2003)). We bring the default rate closer to that observed empirically for Latin America by introducing third-party bail-outs. Modest bailouts raise the rate ...
High Discounts and High Unemployment
... increase in unemployment in a depressed period is probably substantial, in excess of any increase in real interest rates. Thus the paper needs to document high discount rates in depressed times. The causal chain I have in mind is that some event creates a financial crisis, in which risk premiums ris ...
... increase in unemployment in a depressed period is probably substantial, in excess of any increase in real interest rates. Thus the paper needs to document high discount rates in depressed times. The causal chain I have in mind is that some event creates a financial crisis, in which risk premiums ris ...
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... Who maintained the accounting records? What accounting records were kept that would have been available if not destroyed? What is the ownership structure and form of organization? Is the financial position of the owner solid? How about the entity itself? Does the business support the owner? Does the ...
... Who maintained the accounting records? What accounting records were kept that would have been available if not destroyed? What is the ownership structure and form of organization? Is the financial position of the owner solid? How about the entity itself? Does the business support the owner? Does the ...
Chapter 5: Credit Management
... Pricing Motive All reasons are related to market imperfections ...
... Pricing Motive All reasons are related to market imperfections ...
World bank documents
... 6/ This discussion has, of course, ignored what may be the central criticismagainst land taxes, the administrativeproblems associated with levying such taxes in an equitablemanner, and the abuse to which such taxes are subject. Moreover, in practice, such taxes are usually based not on the intrinsic ...
... 6/ This discussion has, of course, ignored what may be the central criticismagainst land taxes, the administrativeproblems associated with levying such taxes in an equitablemanner, and the abuse to which such taxes are subject. Moreover, in practice, such taxes are usually based not on the intrinsic ...
Portfolio Adjustment Costs and Asset Price Volatility with
... costs generate a wedge between buying and selling prices, i.e. the buyer has to pay more for the asset and the seller receives less, thus decreasing the incentive to trade on markets with transaction costs. In general, these studies find that transaction costs have only a limited effect on asset pri ...
... costs generate a wedge between buying and selling prices, i.e. the buyer has to pay more for the asset and the seller receives less, thus decreasing the incentive to trade on markets with transaction costs. In general, these studies find that transaction costs have only a limited effect on asset pri ...
South_America_en.pdf
... (29%), which was partly offset by a sharp fall (34%) in commercial bank deposits with the central bank. The comfortable liquidity situation of financial institutions paved the way for an increase in the proportion of holdings in the form of short-term securities issued by the central bank, to the de ...
... (29%), which was partly offset by a sharp fall (34%) in commercial bank deposits with the central bank. The comfortable liquidity situation of financial institutions paved the way for an increase in the proportion of holdings in the form of short-term securities issued by the central bank, to the de ...
Form 10-Q 1 800 FLOWERS COM INC
... ---------------------------Total current liabilities Long-term debt and obligations under capital leases ...
... ---------------------------Total current liabilities Long-term debt and obligations under capital leases ...
The 2009 BCG Multilatinas: A Fresh Look at Latin America and How
... of consumer confidence, credit scarcity, limited liquidity, and capital flight. These effects, in turn, have had negative impacts on financial markets, currency values, economicactivity levels, consumer behavior patterns, company performance levels, and market valuations. Furthermore, several dozen c ...
... of consumer confidence, credit scarcity, limited liquidity, and capital flight. These effects, in turn, have had negative impacts on financial markets, currency values, economicactivity levels, consumer behavior patterns, company performance levels, and market valuations. Furthermore, several dozen c ...
Financial Markets
... Short selling............................................................................................. 97 ...
... Short selling............................................................................................. 97 ...
39 Knowledge-intensive property rights and the evolution of venture
... inefficient and hence the necessary levels of division of labour and specialization cannot be achieved. A radical market failure is the direct consequence of the characteristics of knowledge, as an economic, private, and unbundled good (Teece, 1986 and 2000). The failure of markets for knowledge is ...
... inefficient and hence the necessary levels of division of labour and specialization cannot be achieved. A radical market failure is the direct consequence of the characteristics of knowledge, as an economic, private, and unbundled good (Teece, 1986 and 2000). The failure of markets for knowledge is ...
Response to HMT consultation on tax deductibility of
... respect of the deductibility of future interest costs when entering into funding arrangements. They would not, in these circumstances, enjoy a greater interest shield if trading improved but by the same token they would not be adversely affected if the business (or parts of the business) went throug ...
... respect of the deductibility of future interest costs when entering into funding arrangements. They would not, in these circumstances, enjoy a greater interest shield if trading improved but by the same token they would not be adversely affected if the business (or parts of the business) went throug ...
RADIUS GOLD INC. (Form: 20-F/A, Received: 11/04
... The Company may be adversely affected by commodity prices; The Company’s financial position and its ability to finance obtain future financings may be adversely affected by fluctuations in securities markets; Additional equity financings may dilute the ownership interests of existing shareholders; I ...
... The Company may be adversely affected by commodity prices; The Company’s financial position and its ability to finance obtain future financings may be adversely affected by fluctuations in securities markets; Additional equity financings may dilute the ownership interests of existing shareholders; I ...
Advancing the Credit Channel and Credit Rationing in the
... textbooks when it is mentioned at all. The same could be said for the concept of credit rationing. Money and banking textbooks more dependably present both ideas, but cursory descriptions are provided at best. There are several factors that could be contributing to this situation. The poor coverage ...
... textbooks when it is mentioned at all. The same could be said for the concept of credit rationing. Money and banking textbooks more dependably present both ideas, but cursory descriptions are provided at best. There are several factors that could be contributing to this situation. The poor coverage ...
Use of Ratings in Insurance Industry
... Such securities are classified on the annual statement by ignoring the conversion feature. RBC is adjusted upward if the security that results from the conversion is more risky than the original security. Required capital on mandatorily convertible securities is based on the RBC factor for NAIC Clas ...
... Such securities are classified on the annual statement by ignoring the conversion feature. RBC is adjusted upward if the security that results from the conversion is more risky than the original security. Required capital on mandatorily convertible securities is based on the RBC factor for NAIC Clas ...
An Analysis of Interest Rate Spread in the Banking Sector in
... removed but the floors were retained. In this context, it is important to recognise that although deregulation of interest rates is often considered a major element of financial sector reforms, market determined interest rates are necessary but not sufficient for developing an efficient financial sy ...
... removed but the floors were retained. In this context, it is important to recognise that although deregulation of interest rates is often considered a major element of financial sector reforms, market determined interest rates are necessary but not sufficient for developing an efficient financial sy ...
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.