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... What is your discount rate? We can answer that easily enough if you answer the following kinds of questions: If you had a choice between a dollar today and $1.10 a year from now, would you take the dollar today or the $1.10? If you answered the dollar today, we know your discount rate is at least 10 ...
... What is your discount rate? We can answer that easily enough if you answer the following kinds of questions: If you had a choice between a dollar today and $1.10 a year from now, would you take the dollar today or the $1.10? If you answered the dollar today, we know your discount rate is at least 10 ...
Balance of payments adjustments
... Lower prices would make their exports more competitive and lessen demand for imports, restoring equilibrium ...
... Lower prices would make their exports more competitive and lessen demand for imports, restoring equilibrium ...
does the budget deficit crowd-out private credit from the banking
... In a nutshell it is clear that the current stance of public expenditures, and its expected near future trend, is unsustainable, or at best bears high long term social and economic costs. In addition, borrowing from the domestic market at a higher rate than that in the international market places an ...
... In a nutshell it is clear that the current stance of public expenditures, and its expected near future trend, is unsustainable, or at best bears high long term social and economic costs. In addition, borrowing from the domestic market at a higher rate than that in the international market places an ...
Issues in the Financing of Small and Medium Enterprises in China
... The current financial system in China provides reasonably good access to deposit and payment service to the Chinese people. Chinese banks have extensive branch network. The total branches of the four SCBs are about 120,000. If branches of RCCs (about 38,000) and postal offices which offers postal sa ...
... The current financial system in China provides reasonably good access to deposit and payment service to the Chinese people. Chinese banks have extensive branch network. The total branches of the four SCBs are about 120,000. If branches of RCCs (about 38,000) and postal offices which offers postal sa ...
National Grid Company plc Annual Report and Accounts 2003/04
... maintains the physical assets, develops the network to accommodate new connections/ disconnections, manages a programme of asset replacement and investment to ensure the longterm reliability of the systems. Revenue from charges for using the transmission network and charges for connections made befo ...
... maintains the physical assets, develops the network to accommodate new connections/ disconnections, manages a programme of asset replacement and investment to ensure the longterm reliability of the systems. Revenue from charges for using the transmission network and charges for connections made befo ...
Firm Selection and Corporate Cash Holdings
... IPO by R&D–intensive firms, all else being equal. The increase in cash holdings of newly listed R&D–intensive firms suggests each new cohort to the stock market has different characteristics. Indeed, over time newly listed firms are smaller, less profitable, and appear to exhibit higher cash-flow vo ...
... IPO by R&D–intensive firms, all else being equal. The increase in cash holdings of newly listed R&D–intensive firms suggests each new cohort to the stock market has different characteristics. Indeed, over time newly listed firms are smaller, less profitable, and appear to exhibit higher cash-flow vo ...
Scenarios on the sovereign debt crisis
... ■ Balance sheet coverage – expanded to cover financial and nonfinancial corporates as well as households and governments ■ Credit ratings – Reflecting the impact of sovereign debt ratings on interest rate spreads for government bonds ■ Feedback effects – from unemployment/insolvencies on credit ...
... ■ Balance sheet coverage – expanded to cover financial and nonfinancial corporates as well as households and governments ■ Credit ratings – Reflecting the impact of sovereign debt ratings on interest rate spreads for government bonds ■ Feedback effects – from unemployment/insolvencies on credit ...
Bloomberg Intelligence 2015 Outlook
... The book includes analyses drawn from the work of more than 200 research professionals at Bloomberg Intelligence, the five-year-old research division of Bloomberg L.P. Embedded in this year’s outlook are three broad themes: Interest rates: As 2014 ended, the market appeared to be discounting a beni ...
... The book includes analyses drawn from the work of more than 200 research professionals at Bloomberg Intelligence, the five-year-old research division of Bloomberg L.P. Embedded in this year’s outlook are three broad themes: Interest rates: As 2014 ended, the market appeared to be discounting a beni ...
Chapter 21
... International Banking 1. Deposit insurance in the US covers losses up to $100,000, but since the size of deposits in international banking is often much larger, the amount of insurance is often minimal. 2. Reserve requirements also act as a form of insurance for depositors, but countries can not imp ...
... International Banking 1. Deposit insurance in the US covers losses up to $100,000, but since the size of deposits in international banking is often much larger, the amount of insurance is often minimal. 2. Reserve requirements also act as a form of insurance for depositors, but countries can not imp ...
NBER WORKING PAPER SERIES EAST ASIA AND GLOBAL IMBALANCES:
... The implications of persistent and widening global current account imbalances have been at the center of policy debates over the last half decade. While the concerns subside each year, as a rapid unraveling of the imbalances fails to materialize, the intellectual challenge of determining what drives ...
... The implications of persistent and widening global current account imbalances have been at the center of policy debates over the last half decade. While the concerns subside each year, as a rapid unraveling of the imbalances fails to materialize, the intellectual challenge of determining what drives ...
Global Financial Stability Report(Chapter 1): Potent Policies for
... Oil prices have fallen sharply since June 2014, hitting a 13-year low in February 2016 (Figure 1.5, panel 1). Although the shock has been acute for energy producers, a number of factors have muted the positive impact of a supply-driven oil decline, especially for net oil importers (see the section o ...
... Oil prices have fallen sharply since June 2014, hitting a 13-year low in February 2016 (Figure 1.5, panel 1). Although the shock has been acute for energy producers, a number of factors have muted the positive impact of a supply-driven oil decline, especially for net oil importers (see the section o ...
Economic Performance, Wealth Distribution and Credit
... us to include firms which have access to credit, but are inefficient because they cannot achieve the efficient size due to credit constraints. Moreover, the effects of financial market improvements changes will have both an extensive margin –more potential entrepreneurs can get loans to start their ...
... us to include firms which have access to credit, but are inefficient because they cannot achieve the efficient size due to credit constraints. Moreover, the effects of financial market improvements changes will have both an extensive margin –more potential entrepreneurs can get loans to start their ...
Chapter Seventeen
... This statement identifies the total sources of liquidity as the amount of cash-type assets that can be sold with little price risk and at low cost, the amount of funds it can borrow in the money/purchased funds market, and any excess cash reserves over the necessary reserve requirements. The statem ...
... This statement identifies the total sources of liquidity as the amount of cash-type assets that can be sold with little price risk and at low cost, the amount of funds it can borrow in the money/purchased funds market, and any excess cash reserves over the necessary reserve requirements. The statem ...
6% Marginal Cost of Capital
... government bonds and that on the investor’s borrowing (e.g., bonds). Second, when investors borrow from lenders they incur an obligation to pay interest to them; dividend payments are made only after interest payments are met. Therefore there is a risk involved in purchasing the stock of the company ...
... government bonds and that on the investor’s borrowing (e.g., bonds). Second, when investors borrow from lenders they incur an obligation to pay interest to them; dividend payments are made only after interest payments are met. Therefore there is a risk involved in purchasing the stock of the company ...
NBER WORKING PAPER SERIES INEFFICIENT INVESTMENT WAVES Zhiguo He Péter Kondor
... overinvestment in booms and/or underinvestment in downturns? Relatedly, should the policy maker intervene in booms, in downturns or both? In this paper, we contribute to this debate as follows. Constrained efficient investment cycles arise naturally in our dynamic economy with limited aggregate reso ...
... overinvestment in booms and/or underinvestment in downturns? Relatedly, should the policy maker intervene in booms, in downturns or both? In this paper, we contribute to this debate as follows. Constrained efficient investment cycles arise naturally in our dynamic economy with limited aggregate reso ...
I Inflation, Asset Markets, and Economic Stabilization:
... For example, in 1995 Michael Bruno, then chief economist of the World Bank, wrote, “Very low inflation is again becoming the norm, not only in the industrial world but also in developing regions.” After discussing stabilization strategies, like fiscal retrenchment, exchange rate pegs, currency board ...
... For example, in 1995 Michael Bruno, then chief economist of the World Bank, wrote, “Very low inflation is again becoming the norm, not only in the industrial world but also in developing regions.” After discussing stabilization strategies, like fiscal retrenchment, exchange rate pegs, currency board ...
1 The Capital Structure Choice in Tax Contrasting
... 1999), cultural values (Inglehart, 1994; Easterly and Levine (1997) and others. In addition to the above factors, recently there has been a renewed interest in the relationship between financial development and economic growth. Following the classical research by Gurley and Shaw (1955), Goldsmith (1 ...
... 1999), cultural values (Inglehart, 1994; Easterly and Levine (1997) and others. In addition to the above factors, recently there has been a renewed interest in the relationship between financial development and economic growth. Following the classical research by Gurley and Shaw (1955), Goldsmith (1 ...
“How to create a more symmetrical system that provides a... control of international liquidities” Christian Ghymers
... by deciding to save less (especially when uncertainty is high). This basic feature of the working of the international economy makes crucial to identify the mutual links between the play of these two above functions, the first one conditioning the second one while the second one cannot put at risk t ...
... by deciding to save less (especially when uncertainty is high). This basic feature of the working of the international economy makes crucial to identify the mutual links between the play of these two above functions, the first one conditioning the second one while the second one cannot put at risk t ...
Financial Intermediation
... was bank credit. The moderation in credit growth was partly reflective of the slowdown in real economic activity coupled with increasing risk aversion by banks. Although there was a moderation in the balance sheet of the banking sector, deposits - the largest component on the liabilities side—mainta ...
... was bank credit. The moderation in credit growth was partly reflective of the slowdown in real economic activity coupled with increasing risk aversion by banks. Although there was a moderation in the balance sheet of the banking sector, deposits - the largest component on the liabilities side—mainta ...