Can VARs describe monetary policy?
... specifications can provide a better description of monetary policy than Rudebusch's results would suggest. First, the correlation between V A R and futures-market shocks is a poor gauge of the V A R ' s performance. Quantitatively small deviations f r o m perfect futures market efficiency create a s ...
... specifications can provide a better description of monetary policy than Rudebusch's results would suggest. First, the correlation between V A R and futures-market shocks is a poor gauge of the V A R ' s performance. Quantitatively small deviations f r o m perfect futures market efficiency create a s ...
three essays on financial intermediation and growth
... Two of the groundbreaking works on the empirics of growth are by Barro (1991) and Mankiw, Romer and Weil (1992). For 98 countries in the period 1960-1985, Barro finds that the growth rate of real GDP per capita is positively related to initial human capital and negatively related to initial real GDP ...
... Two of the groundbreaking works on the empirics of growth are by Barro (1991) and Mankiw, Romer and Weil (1992). For 98 countries in the period 1960-1985, Barro finds that the growth rate of real GDP per capita is positively related to initial human capital and negatively related to initial real GDP ...
Leadership: Nurturing Opportunity and Vision
... she provides services to a variety of clients, specifically in the areas of return preparation and tax planning for contractors, home builders and law firms. Casey is a member of the Missouri Society of Certified Public Accountants and the American Institute of Certified Public Accountants. She also ...
... she provides services to a variety of clients, specifically in the areas of return preparation and tax planning for contractors, home builders and law firms. Casey is a member of the Missouri Society of Certified Public Accountants and the American Institute of Certified Public Accountants. She also ...
Financial Markets in the Face of the Apocalypse
... In this paper, we combine two important strands of the literature on importance of apocalyptic risk for capital markets. The risk is defined as event which leads to collapse of political system and abrogation of property/civil/human rights. The apocalyptic risk is represented by events such us forei ...
... In this paper, we combine two important strands of the literature on importance of apocalyptic risk for capital markets. The risk is defined as event which leads to collapse of political system and abrogation of property/civil/human rights. The apocalyptic risk is represented by events such us forei ...
Global Market Outlook 2017 - State Street Global Advisors
... While there is still a great deal of uncertainty around final effects, we can already see that some of these changes will likely hasten shifts that were already under way (interest rate normalization in the US, for example). Others represent a significant departure from previous trends, such as an a ...
... While there is still a great deal of uncertainty around final effects, we can already see that some of these changes will likely hasten shifts that were already under way (interest rate normalization in the US, for example). Others represent a significant departure from previous trends, such as an a ...
24.11.2005 Presentation by Ersin Özince, Chairman of the Banks
... •Widening current account deficit due to increase in investments and energy prices •Foreign investors’ interest on the banking sector •Acceleration in privatisation ...
... •Widening current account deficit due to increase in investments and energy prices •Foreign investors’ interest on the banking sector •Acceleration in privatisation ...
Audit Insights: Banking
... through the global financial crisis that ensued. As a result, banks have made changes to their businesses, improved the information they publish and strengthened governance and internal control. There have also been major reforms to how banks are regulated. All this has made banks safer but has also ...
... through the global financial crisis that ensued. As a result, banks have made changes to their businesses, improved the information they publish and strengthened governance and internal control. There have also been major reforms to how banks are regulated. All this has made banks safer but has also ...
FINALHill Rebuttal
... because interest on debt is a tax-deductible expense, more of a leveraged firm’s operating income flows through to investors, hence the value of the firm is higher.” (Brigham, ...
... because interest on debt is a tax-deductible expense, more of a leveraged firm’s operating income flows through to investors, hence the value of the firm is higher.” (Brigham, ...
PDP-Working Paper
... economy. These mutually reinforcing interactions tend to amplify business cycle fluctuations and cause or exacerbate financial instability.” As the global financial crisis has reaffirmed, this instability can easily feed through into the real economy.3 The banking sector is especially prone to this ...
... economy. These mutually reinforcing interactions tend to amplify business cycle fluctuations and cause or exacerbate financial instability.” As the global financial crisis has reaffirmed, this instability can easily feed through into the real economy.3 The banking sector is especially prone to this ...
EXPLAINING MARKET POWER DIFFERENCES IN BANKING: A CROSS-COUNTRY STUDY
... of bank-specific characteristics, bank regulations, market structure, and institutional development on bank net interest margins and overheads costs, using bank-level data across 72 countries, while Barth et al. (2004) examine the relationships between a broad array of bank regulations and supervis ...
... of bank-specific characteristics, bank regulations, market structure, and institutional development on bank net interest margins and overheads costs, using bank-level data across 72 countries, while Barth et al. (2004) examine the relationships between a broad array of bank regulations and supervis ...
DOC - Investor Relations
... The condensed consolidated balance sheet as of March 31, 2013, and the condensed consolidated statements of operations, comprehensive income and cash flows for the periods presented herein have been prepared by Bel Fuse Inc. (the “Company” or “Bel”) and are unaudited. In the opinion of management, a ...
... The condensed consolidated balance sheet as of March 31, 2013, and the condensed consolidated statements of operations, comprehensive income and cash flows for the periods presented herein have been prepared by Bel Fuse Inc. (the “Company” or “Bel”) and are unaudited. In the opinion of management, a ...
activision, inc. - Investor Relations Solutions
... The Company's expenses are based in part on the Company's product development and marketing budgets. Many of the costs incurred by the Company to produce and sell its products are expensed as such costs are incurred, which is often long before a product ever is released. In addition, a large portion ...
... The Company's expenses are based in part on the Company's product development and marketing budgets. Many of the costs incurred by the Company to produce and sell its products are expensed as such costs are incurred, which is often long before a product ever is released. In addition, a large portion ...
Study on the key factors affecting the future growth of Europe
... Regarding internal weaknesses, the European economy has evolved into a high-cost business environment with an ageing and relatively expensive labour force limited, in many cases, by low productivity. Innovation is weakened by the incomplete achievement of the Single Market and the weak application o ...
... Regarding internal weaknesses, the European economy has evolved into a high-cost business environment with an ageing and relatively expensive labour force limited, in many cases, by low productivity. Innovation is weakened by the incomplete achievement of the Single Market and the weak application o ...
Fund Transfer Pricing in a Commercial Bank
... currency into another, and safekeeping of coins. Money was initially kept in banks for security, not for profit, and was not invested into loans. Certificates were issued by banks to confirm the amount of money stored in vaults.7 Storing money allowed for facilitation of payments between bank’s cust ...
... currency into another, and safekeeping of coins. Money was initially kept in banks for security, not for profit, and was not invested into loans. Certificates were issued by banks to confirm the amount of money stored in vaults.7 Storing money allowed for facilitation of payments between bank’s cust ...
Leverage, Risk and Regulatory Capital in Latin
... Regulatory capital plays a central role after the recent banking crisis of 2007-2009. The debate around the level of capital is complex, with opposite views about the optimal level of bank capital. Some researchers claim lower levels of capital because raising them would induce increases in loan rat ...
... Regulatory capital plays a central role after the recent banking crisis of 2007-2009. The debate around the level of capital is complex, with opposite views about the optimal level of bank capital. Some researchers claim lower levels of capital because raising them would induce increases in loan rat ...
Crisis Alpha and Risk in Alternative Investment
... siren call of Alternative Investments. Their seductive return properties and the mystique surrounding how they make money has tantalized investors resulting in exponential growth of assets under management. The key issue remains that dynamic strategies in Alternative Investments perform differently ...
... siren call of Alternative Investments. Their seductive return properties and the mystique surrounding how they make money has tantalized investors resulting in exponential growth of assets under management. The key issue remains that dynamic strategies in Alternative Investments perform differently ...
LF Economics
... To this day, housing bubbles are still poorly defined, if at all, on the basis of ‘irrational exuberance’ or ‘chasing capital gain’.2 The definition articulated by the economist Hyman Minsky decades ago has been routinely ignored. Minsky defined an asset bubble on the basis of Ponzi finance, when th ...
... To this day, housing bubbles are still poorly defined, if at all, on the basis of ‘irrational exuberance’ or ‘chasing capital gain’.2 The definition articulated by the economist Hyman Minsky decades ago has been routinely ignored. Minsky defined an asset bubble on the basis of Ponzi finance, when th ...
Slices - personal.kent.edu
... • Residential and commercial mortgages have become a major component of finance companies’ assets • Often issued to riskier borrowers and charge a higher interest rate for that risk • Securitized mortgage assets: mortgages packaged and used as assets backing secondary market securities • Bad debt ex ...
... • Residential and commercial mortgages have become a major component of finance companies’ assets • Often issued to riskier borrowers and charge a higher interest rate for that risk • Securitized mortgage assets: mortgages packaged and used as assets backing secondary market securities • Bad debt ex ...
hhgregg, Inc. (Form: 10-Q, Received: 08/04/2016 07
... with a truly differentiated purchase experience through superior customer service, knowledgeable sales associates and the highest quality product selections. Founded in 1955, hhgregg is a multi-regional retailer with 226 brick-and-mortar stores in 20 states that also offers market-leading global and ...
... with a truly differentiated purchase experience through superior customer service, knowledgeable sales associates and the highest quality product selections. Founded in 1955, hhgregg is a multi-regional retailer with 226 brick-and-mortar stores in 20 states that also offers market-leading global and ...
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.