Sticky Leverage Joao Gomes, Urban Jermann and Lukas Schmid February 23, 2016
... risk premiums. Their model assumes constant labor and considers only two-period debt. Fernandez-Villaverde (2010) considers nominal government debt, and Christiano, Motto, and Rostagno (2009) embed nominal entrepreneurial loans into a medium-scale DSGE model. Both use short-term debt and emphasize t ...
... risk premiums. Their model assumes constant labor and considers only two-period debt. Fernandez-Villaverde (2010) considers nominal government debt, and Christiano, Motto, and Rostagno (2009) embed nominal entrepreneurial loans into a medium-scale DSGE model. Both use short-term debt and emphasize t ...
The Effect of New York City Sports Outcomes on the Stock Market
... individual's decision making. Financial analysts can influence stocks' behavior through their recommendations by generating a temporary buying or selling pressure. As a result, events that affect local mood like New York City sports outcomes can influence major stock indexes by swaying the sentiment ...
... individual's decision making. Financial analysts can influence stocks' behavior through their recommendations by generating a temporary buying or selling pressure. As a result, events that affect local mood like New York City sports outcomes can influence major stock indexes by swaying the sentiment ...
Sticky Leverage Joao Gomes, Urban Jermann and Lukas Schmid October 14, 2014
... risk premiums. Their model assumes constant labor and considers only two-period debt. Fernandez-Villaverde (2010) considers nominal government debt, and Christiano, Motto, and Rostagno (2009) embed nominal entrepreneurial loans into a medium-scale DSGE model. Both use short-term debt and emphasize t ...
... risk premiums. Their model assumes constant labor and considers only two-period debt. Fernandez-Villaverde (2010) considers nominal government debt, and Christiano, Motto, and Rostagno (2009) embed nominal entrepreneurial loans into a medium-scale DSGE model. Both use short-term debt and emphasize t ...
Stock Options Analyzed from Three Accounting Perspectives
... wages, they often have little incentive to improve the corporation’s productivity by engaging in new and possibly risky ventures. Agency theory suggests that if too much of an employee’s compensation is tied up in his or her company’s stock, he or she may take a more conservative approach to the job ...
... wages, they often have little incentive to improve the corporation’s productivity by engaging in new and possibly risky ventures. Agency theory suggests that if too much of an employee’s compensation is tied up in his or her company’s stock, he or she may take a more conservative approach to the job ...
Alternative Litigation Finance and anti
... ALF, quite apart from its impact on the civil litigation system. The wrongful nature of ALF, on this view, is related to its transformation of a nonmarket good, namely civil justice, into something that can be bought and sold like anything else on the market. Consider, for example, these two objecti ...
... ALF, quite apart from its impact on the civil litigation system. The wrongful nature of ALF, on this view, is related to its transformation of a nonmarket good, namely civil justice, into something that can be bought and sold like anything else on the market. Consider, for example, these two objecti ...
Firm Innovation and Financial Analysis: How Do They Interact? Jim Goldman Joel Peress
... they expect to receive more capital should their projects be successful. Conversely, financiers collect more information about projects when entrepreneurs innovate more because the opportunity cost of misinvesting, i.e. of funding unsuccessful projects while missing out on successful projects, is hi ...
... they expect to receive more capital should their projects be successful. Conversely, financiers collect more information about projects when entrepreneurs innovate more because the opportunity cost of misinvesting, i.e. of funding unsuccessful projects while missing out on successful projects, is hi ...
fundamental analysis as a method of share valuation in comparison
... The origin of Fundamental analysis for the share price valuation can be dated back to Graham and Dodd (1934) in which the authors have argued the importance of the fundamental factors in share price valuation. Theoretically, the value of a company, hence its share price, is the sum of the present va ...
... The origin of Fundamental analysis for the share price valuation can be dated back to Graham and Dodd (1934) in which the authors have argued the importance of the fundamental factors in share price valuation. Theoretically, the value of a company, hence its share price, is the sum of the present va ...
Sequencing riSk a key challenge to creating SuStainaBle
... period with the greatest portfolio balance (that is, the worst returns in their worst order). As investigated empirically, the key factors influencing sequencing risk are: the size of the contributions (or withdrawals); the growth of the contributions (or withdrawals) through time; the timing of con ...
... period with the greatest portfolio balance (that is, the worst returns in their worst order). As investigated empirically, the key factors influencing sequencing risk are: the size of the contributions (or withdrawals); the growth of the contributions (or withdrawals) through time; the timing of con ...
NBER WORKING PAPER SERIES INTERNATIONAL CONSUMPTION RISK IS SHARED AFTER ALL:
... How much welfare improvement can be generated by optimal international consumption risksharing? The obvious importance of this question has motivated a significant body of research.1 As this literature shows, international risk-sharing gains depend directly upon the value of consumption risk and the ...
... How much welfare improvement can be generated by optimal international consumption risksharing? The obvious importance of this question has motivated a significant body of research.1 As this literature shows, international risk-sharing gains depend directly upon the value of consumption risk and the ...
The Human Capital Premium Puzzle
... Although unrelated to this paper in terms of the methodology and/or the questions that they study, there are some recent papers of interest. Rubinstein and Tsiddon (1999), for instance, studies the behavior of wages over the business cycle, while Pistaferri (2003) studies wage risk and life-cycle la ...
... Although unrelated to this paper in terms of the methodology and/or the questions that they study, there are some recent papers of interest. Rubinstein and Tsiddon (1999), for instance, studies the behavior of wages over the business cycle, while Pistaferri (2003) studies wage risk and life-cycle la ...
Thriving in the new transaction banking ecosystem
... service. Rather than making huge investments up front, many banks are likely to work in partnership with technology providers as part of what have come to be known as ‘co-opetition’ models (combining competition and co-operation). Co-opetition with systems companies or even other banks will also be ...
... service. Rather than making huge investments up front, many banks are likely to work in partnership with technology providers as part of what have come to be known as ‘co-opetition’ models (combining competition and co-operation). Co-opetition with systems companies or even other banks will also be ...
Macroeconomic Effects of Secondary Market
... and eventual bust.1 Yet, the underlying mechanisms are not fully understood. This paper offers a theory in which the endogenous growth of secondary markets generates a macroeconomic credit cycle. I use the theory to understand why secondary market credit booms arise, why they eventually lead to fina ...
... and eventual bust.1 Yet, the underlying mechanisms are not fully understood. This paper offers a theory in which the endogenous growth of secondary markets generates a macroeconomic credit cycle. I use the theory to understand why secondary market credit booms arise, why they eventually lead to fina ...
The value of being a SySTemically imporTanT financial
... Therefore, the market could view the Sifi regulation as an extended version of the Us Tbtf policy, given that Sifis will be declared to be too relevant for the global economy to be allowed to fail, irrespective of their size, specialization, or business model. Such a policy would affect these banks’ ...
... Therefore, the market could view the Sifi regulation as an extended version of the Us Tbtf policy, given that Sifis will be declared to be too relevant for the global economy to be allowed to fail, irrespective of their size, specialization, or business model. Such a policy would affect these banks’ ...
Term Structure of Interest Rates
... Risk loving markets can be described as ones in which investors enjoy the excitement of the gamble and are willing to pay for it by accepting an expected return from the risky investment that is less than the risk-free rate. Even though there are some investors who are risk loving, a risk loving mar ...
... Risk loving markets can be described as ones in which investors enjoy the excitement of the gamble and are willing to pay for it by accepting an expected return from the risky investment that is less than the risk-free rate. Even though there are some investors who are risk loving, a risk loving mar ...
Derivatives Debacles: Case Studies of Large Losses
... Perhaps the most widely cited report on the risks associated with derivatives was published in 1993 by the Group of Thirty—a group consisting of prominent members of the international financial community and noted academics. The report identified four basic kinds of risks associated with the use of ...
... Perhaps the most widely cited report on the risks associated with derivatives was published in 1993 by the Group of Thirty—a group consisting of prominent members of the international financial community and noted academics. The report identified four basic kinds of risks associated with the use of ...
Incentives for Investment in IUU Fishing Capacity
... • Focus on vessels with no access rights, operating outside any normal regulatory environment, e.g., FONC vessels in international waters • In the absence of management, fishing effort is (only) determined by market forces, e.g, the supply of fishing capacity ...
... • Focus on vessels with no access rights, operating outside any normal regulatory environment, e.g., FONC vessels in international waters • In the absence of management, fishing effort is (only) determined by market forces, e.g, the supply of fishing capacity ...
Housing and Banking over the Business Cycle Xinyu Ge
... More precisely speaking, interest rates in these papers are assumed not to be linked to changes in the marginal utility of consumption. In retrospect, they do not fit into the modern literature of business cycles while studying housing, because interest rates are an important price in any macroecono ...
... More precisely speaking, interest rates in these papers are assumed not to be linked to changes in the marginal utility of consumption. In retrospect, they do not fit into the modern literature of business cycles while studying housing, because interest rates are an important price in any macroecono ...
2013 Audit - Hartsel Fire Protection District
... Capital Assets and Long-Term Liabilities Capital asset additions during 2013 were $20,366 for construction in progress, $8,000 for equipment and $29,500 for vehicles and accessories. See notes to financial statements, note 3 capital assets, for more information. During 2013, the District’s long-term ...
... Capital Assets and Long-Term Liabilities Capital asset additions during 2013 were $20,366 for construction in progress, $8,000 for equipment and $29,500 for vehicles and accessories. See notes to financial statements, note 3 capital assets, for more information. During 2013, the District’s long-term ...
Link - Validus Risk Management
... to the risk management function. For smaller managers (e.g. less than $500 million in assets), often the fund principals are directly responsible for risk management. For medium-sized managers, many risk management functions may be delegated to the finance team, often falling under the responsibilit ...
... to the risk management function. For smaller managers (e.g. less than $500 million in assets), often the fund principals are directly responsible for risk management. For medium-sized managers, many risk management functions may be delegated to the finance team, often falling under the responsibilit ...
NBER WORKING PAPER SERIES ON THE INCEPTION OF RATIONAL Behzad Diba
... must, with probability one, eventually burst. This inference would rule out the possibility of a rational bubble that, with nonzero probability, lasts forever but not the possibility of one that almost surely bursts. The argument developed in the present paper applies to all forms of rational bubble ...
... must, with probability one, eventually burst. This inference would rule out the possibility of a rational bubble that, with nonzero probability, lasts forever but not the possibility of one that almost surely bursts. The argument developed in the present paper applies to all forms of rational bubble ...
0.1 Front matter.PM
... much detail beyond that. Many critics denounce “speculation” as a waste of social resources, without making any connections between it and the supposedly more fundamental world of “production.” Sociologists who study power structures write portentously of “the banks,” but their evidence is often vag ...
... much detail beyond that. Many critics denounce “speculation” as a waste of social resources, without making any connections between it and the supposedly more fundamental world of “production.” Sociologists who study power structures write portentously of “the banks,” but their evidence is often vag ...