Chapter 10 - Externalities
... – If private parties can bargain without cost over the allocation of resources • They can solve the problem of externalities on their own ...
... – If private parties can bargain without cost over the allocation of resources • They can solve the problem of externalities on their own ...
annual report - Beige Capital
... BEIGE Capital Savings and Loans (BCSL) was adjudged the best Savings and Loans Company and inducted into the ‘Made in Ghana Hall of Fame’ at the 3rd Made in Ghana Awards 2015. The Company was also commended for its general banking and investment services in the Financial Services Provider category. ...
... BEIGE Capital Savings and Loans (BCSL) was adjudged the best Savings and Loans Company and inducted into the ‘Made in Ghana Hall of Fame’ at the 3rd Made in Ghana Awards 2015. The Company was also commended for its general banking and investment services in the Financial Services Provider category. ...
The Depression of 2008
... As explained by Austrian-school economists such as Friedrich Hayek, high interest rates flatten the structure of capital goods, reducing the top layers. As with the example used above, think of trees that take 50 years to mature. If the tree grows 3 percent a year in value, but the market rate of in ...
... As explained by Austrian-school economists such as Friedrich Hayek, high interest rates flatten the structure of capital goods, reducing the top layers. As with the example used above, think of trees that take 50 years to mature. If the tree grows 3 percent a year in value, but the market rate of in ...
HOW THE FLAWS OF BASEL II LED TO THE COLLAPSE OF BEAR
... Some argue that investment banking is nothing more than a for-profit business similar to any other commercial enterprise.15 As a result, the advocates of this position assert that investment banks should be subject to the same regulatory oversight as any other business.16 Such oversight is often rel ...
... Some argue that investment banking is nothing more than a for-profit business similar to any other commercial enterprise.15 As a result, the advocates of this position assert that investment banks should be subject to the same regulatory oversight as any other business.16 Such oversight is often rel ...
Working Paper No. 427 Liquidity Preference Theory Revisited—To
... Accordingly, the vision of capitalism underlying The General Theory is one of finance rather than saving as the precondition for entrepreneurial investment activity. While this was equally true for his earlier Treatise on Money as well, it was probably due to the primary focus in the later work on ...
... Accordingly, the vision of capitalism underlying The General Theory is one of finance rather than saving as the precondition for entrepreneurial investment activity. While this was equally true for his earlier Treatise on Money as well, it was probably due to the primary focus in the later work on ...
Global safe assets - Bank for International Settlements
... as governments simultaneously tried to shore up their financial sector and to sustain domestic economic activity. This led to further shrinkage in the global supply of safe assets at the same time that deleveraging financial institutions, panicked investors and anxious reserve managers all tried to ...
... as governments simultaneously tried to shore up their financial sector and to sustain domestic economic activity. This led to further shrinkage in the global supply of safe assets at the same time that deleveraging financial institutions, panicked investors and anxious reserve managers all tried to ...
Ethical Investment and Portfolio Theory
... of very large corporations—themselves decent individuals committed to a range of values—believed that it was unethical to consider issues other than shareholder value in their deliberations” (Sampford and Berry, [13]). According to Richardson [14], the “separation theorem” suggests the best way for ...
... of very large corporations—themselves decent individuals committed to a range of values—believed that it was unethical to consider issues other than shareholder value in their deliberations” (Sampford and Berry, [13]). According to Richardson [14], the “separation theorem” suggests the best way for ...
Inequality, stock market participation, and the equity premium
... potential to explain various asset pricing puzzles (i.e. the equity premium puzzle of Mehra and Prescott (1985) and the risk free rate puzzle of Weil (1989)). Indeed, Constantinides and Duffie (1996) showed that any aggregate consumption stream can coexist with any price process if the idiosyncrati ...
... potential to explain various asset pricing puzzles (i.e. the equity premium puzzle of Mehra and Prescott (1985) and the risk free rate puzzle of Weil (1989)). Indeed, Constantinides and Duffie (1996) showed that any aggregate consumption stream can coexist with any price process if the idiosyncrati ...
Economic Performance, Wealth Distribution and Credit
... An important result is that we show that there are conflicts between small sized firms and large firms.8 Large firms are reluctant to improve the performance of financial markets, because it increases the size of loans available to restricted firms and allows the entry of some previously excluded en ...
... An important result is that we show that there are conflicts between small sized firms and large firms.8 Large firms are reluctant to improve the performance of financial markets, because it increases the size of loans available to restricted firms and allows the entry of some previously excluded en ...
pension funds as new financial intermediaries
... intermediaries4. There are no transactions costs and there exists a full set of contingent markets in which all can participate. Credit markets also being perfect, individuals do not face credit rationing. Allocation of resources is Pareto optimal and there is no role for intermediaries to add value ...
... intermediaries4. There are no transactions costs and there exists a full set of contingent markets in which all can participate. Credit markets also being perfect, individuals do not face credit rationing. Allocation of resources is Pareto optimal and there is no role for intermediaries to add value ...
23 June 2017 DANSKE INVEST HEDGE FIXED INCOME
... rules considered by the competent authorities of the home state of the AIFM. 2. In respect of any OTC derivatives: (i) the counterparties to OTC derivative transactions will be institutions subject to prudential supervision and (ii) the OTC derivatives will be subject to reliable and verifiable valu ...
... rules considered by the competent authorities of the home state of the AIFM. 2. In respect of any OTC derivatives: (i) the counterparties to OTC derivative transactions will be institutions subject to prudential supervision and (ii) the OTC derivatives will be subject to reliable and verifiable valu ...
Political risk: what market impact
... traditional bipartisanship) and the coherence of the programmes suggest that uncertainty (EPU) could be markedly higher than during previous elections. ...
... traditional bipartisanship) and the coherence of the programmes suggest that uncertainty (EPU) could be markedly higher than during previous elections. ...
16: Asset Valuation: Derivative Investments
... Arbitrage is riskless, because the same asset is simultaneously bought and sold short, so profit is guaranteed and with no investment required. Though true that forwards are not standardized, they are private contracts, do not trade on an exchange, and, therefore, there is a risk of default since no ...
... Arbitrage is riskless, because the same asset is simultaneously bought and sold short, so profit is guaranteed and with no investment required. Though true that forwards are not standardized, they are private contracts, do not trade on an exchange, and, therefore, there is a risk of default since no ...
Just what you need to know about Variance Swaps
... or provide advice or loans to, or participate in the underwriting or restructuring of the obligations of, issuers mentioned herein. The information contained herein is as of the date and time referenced above and JPMorgan does not undertake any obligation to update such information. All market price ...
... or provide advice or loans to, or participate in the underwriting or restructuring of the obligations of, issuers mentioned herein. The information contained herein is as of the date and time referenced above and JPMorgan does not undertake any obligation to update such information. All market price ...
Asia Pacific Real Estate Strategic Outlook
... Japan: Japan’s prime minister Abe unveiled a new growth strategy in 2014 including corporate tax cuts, an investment policy change on Japan’s government pension fund and deregulation of the labour market. The corporate sector remained healthy in 2014 and the unemployment rate fell to its lowest leve ...
... Japan: Japan’s prime minister Abe unveiled a new growth strategy in 2014 including corporate tax cuts, an investment policy change on Japan’s government pension fund and deregulation of the labour market. The corporate sector remained healthy in 2014 and the unemployment rate fell to its lowest leve ...
Just what you need to know about Variance Swaps
... or provide advice or loans to, or participate in the underwriting or restructuring of the obligations of, issuers mentioned herein. The information contained herein is as of the date and time referenced above and JPMorgan does not undertake any obligation to update such information. All market price ...
... or provide advice or loans to, or participate in the underwriting or restructuring of the obligations of, issuers mentioned herein. The information contained herein is as of the date and time referenced above and JPMorgan does not undertake any obligation to update such information. All market price ...
Making sense of international interest rate movements ARTICLES
... movements in term interest rates in the US and the UK, two major markets with good data, since the global financial crisis intensified in 2008. It appears that the global financial crisis has had a largely temporary impact on longer-term measures of interest rate components: looking ahead, markets a ...
... movements in term interest rates in the US and the UK, two major markets with good data, since the global financial crisis intensified in 2008. It appears that the global financial crisis has had a largely temporary impact on longer-term measures of interest rate components: looking ahead, markets a ...
Serial Dependence and Portfolio Performance in the Swedish Stock
... 30 index. The main model studied in the paper is a Vector autoregressive (VAR) model. Ten years of data from the OMX 30 index is used, consisting of 27 stocks for the period 2006-2015 which is transformed into daily, weekly and monthly returns. First the significance of the models is tested and it i ...
... 30 index. The main model studied in the paper is a Vector autoregressive (VAR) model. Ten years of data from the OMX 30 index is used, consisting of 27 stocks for the period 2006-2015 which is transformed into daily, weekly and monthly returns. First the significance of the models is tested and it i ...
The Recent Convergence of Financial Development in Asia
... firms. There will be a greater need for institutions to transform risk, reducing it through aggregation and enabling it to be carried by those more willing to bear it. In this regard, Ang and McKibbin (2007) studied the case of Malaysia which has a history of finance sector reforms since the 1960s a ...
... firms. There will be a greater need for institutions to transform risk, reducing it through aggregation and enabling it to be carried by those more willing to bear it. In this regard, Ang and McKibbin (2007) studied the case of Malaysia which has a history of finance sector reforms since the 1960s a ...