Financial Cycles with Heterogeneous Intermediaries
... Finally, although our modeling strategy is very different, our paper is related to the growing literature on the risk taking channel of monetary policy (Borio and Zhu (2012), Bruno and Shin (2015), DellAriccia et al. (2014) and Acharya and Plantin (2016)). Challe et al. (2013) describe a two-period ...
... Finally, although our modeling strategy is very different, our paper is related to the growing literature on the risk taking channel of monetary policy (Borio and Zhu (2012), Bruno and Shin (2015), DellAriccia et al. (2014) and Acharya and Plantin (2016)). Challe et al. (2013) describe a two-period ...
Market liquidity and stress - Bank for International Settlements
... The relationship between market and cash liquidity is a multifaceted one. Some of the links are obvious. For instance, selling an asset in a market or unwinding a profitable position is one way of raising cash. Others, however, are less apparent. In particular, it will be argued below that access to ...
... The relationship between market and cash liquidity is a multifaceted one. Some of the links are obvious. For instance, selling an asset in a market or unwinding a profitable position is one way of raising cash. Others, however, are less apparent. In particular, it will be argued below that access to ...
13: Asset Valuation: Equity Investments
... The company is currently earning $5 per share and this year paid out 40 percent in dividends. The earnings and dividend growth rate for the next 3 years (T1, T2 and T3) will be 20 percent. At the end of the third year the company will start paying out 100 percent of earnings in dividends (D3 = E3). ...
... The company is currently earning $5 per share and this year paid out 40 percent in dividends. The earnings and dividend growth rate for the next 3 years (T1, T2 and T3) will be 20 percent. At the end of the third year the company will start paying out 100 percent of earnings in dividends (D3 = E3). ...
Top 10 regulatory challenges for banking and capital markets
... to enable local banks to adjust. While international uncertainties do not directly impact Australian regulation, it would be fair to assume that APRA and ASIC are closely monitoring developments. Domestic regulators may wait until US and European positions are more settled before pushing ahead with ...
... to enable local banks to adjust. While international uncertainties do not directly impact Australian regulation, it would be fair to assume that APRA and ASIC are closely monitoring developments. Domestic regulators may wait until US and European positions are more settled before pushing ahead with ...
Document
... a. long-term debt instruments with maturities of 6 to 24 months. b. long-term debt instruments with maturities of 3 to 12 months. c. short-term debt instruments with maturities of 3 to 12 months. d. short-term debt instruments with maturities of 6 to 24 months. ANSWER: c 40. Treasury bills (T-bills) ...
... a. long-term debt instruments with maturities of 6 to 24 months. b. long-term debt instruments with maturities of 3 to 12 months. c. short-term debt instruments with maturities of 3 to 12 months. d. short-term debt instruments with maturities of 6 to 24 months. ANSWER: c 40. Treasury bills (T-bills) ...
A Yen is not a Yen: TIBOR/LIBOR and the `Japan Premium`
... jump in the value of the firm, p is the risk-neutral probability of a jump, and the riskneutral transition density of the jump process dq is equal to 1 (0) with probability pdt (1pdt). If the value of the firm reaches a threshold value K, default occurs. In the context of this structural model of de ...
... jump in the value of the firm, p is the risk-neutral probability of a jump, and the riskneutral transition density of the jump process dq is equal to 1 (0) with probability pdt (1pdt). If the value of the firm reaches a threshold value K, default occurs. In the context of this structural model of de ...
Commissioner Statements_ 9-17
... I believe that another part of our job is to help Washington policy-makers look in the mirror and realize that there are systemic political pressures that created or exacerbated these problems, whether they are the iron triangles of particular financial interests working to weaken their oversight an ...
... I believe that another part of our job is to help Washington policy-makers look in the mirror and realize that there are systemic political pressures that created or exacerbated these problems, whether they are the iron triangles of particular financial interests working to weaken their oversight an ...
Simulation game Chairman Manual File
... pressurized network. As the population increases yearly the system has to be expanded and the manager has to make the decision of investing in the installation of new network. The unitary cost of the pipe is 22,700 USD per kilometer which includes excavation, disinfection and leakage testing. 2.3. A ...
... pressurized network. As the population increases yearly the system has to be expanded and the manager has to make the decision of investing in the installation of new network. The unitary cost of the pipe is 22,700 USD per kilometer which includes excavation, disinfection and leakage testing. 2.3. A ...
Patterns of Household Financial Asset Ownership
... high, around 110%. For savings accounts and money market accounts, the relative change rates were low, 2% and 5%, respectively. Results from the Logit Analyses Table 2 presents the findings from the logit analyses. The findings revealed following patterns. First, among the asset pairs, 61% (22 out o ...
... high, around 110%. For savings accounts and money market accounts, the relative change rates were low, 2% and 5%, respectively. Results from the Logit Analyses Table 2 presents the findings from the logit analyses. The findings revealed following patterns. First, among the asset pairs, 61% (22 out o ...
Global Market Outlook 2017 - State Street Global Advisors
... corresponds to the blip in productivity growth — world trade grew at an average 6.7% a year as value chains linking suppliers in many countries formed. This effectively forced firms to become super-efficient because they faced global, not just domestic, competition. Since the GFC, world trade has gr ...
... corresponds to the blip in productivity growth — world trade grew at an average 6.7% a year as value chains linking suppliers in many countries formed. This effectively forced firms to become super-efficient because they faced global, not just domestic, competition. Since the GFC, world trade has gr ...
June 2015 - NigeriaTravelsMart
... Dec 2016 GDP growth will remain at 3.4% due to inflationary pressures on economic activities ...
... Dec 2016 GDP growth will remain at 3.4% due to inflationary pressures on economic activities ...
Modeling Price Differentials between A Shares and H Shares on the
... prices are related to the contemporaneous movements of the local markets performance, which is dominated by the local risk-free rate, the local interest rate, and the currency effect. Based on the “investment sentiment” notions, Bailey (1994) proposes that unseasoned or unduly optimistic Chinese inv ...
... prices are related to the contemporaneous movements of the local markets performance, which is dominated by the local risk-free rate, the local interest rate, and the currency effect. Based on the “investment sentiment” notions, Bailey (1994) proposes that unseasoned or unduly optimistic Chinese inv ...
Global Market Outlook 2017 - State Street Global Advisors
... corresponds to the blip in productivity growth — world trade grew at an average 6.7% a year as value chains linking suppliers in many countries formed. This effectively forced firms to become super-efficient because they faced global, not just domestic, competition. Since the GFC, world trade has gr ...
... corresponds to the blip in productivity growth — world trade grew at an average 6.7% a year as value chains linking suppliers in many countries formed. This effectively forced firms to become super-efficient because they faced global, not just domestic, competition. Since the GFC, world trade has gr ...
Risk-Adjusted Performance of Private Equity Investments
... the limited partner. The PE fund's investors hold shares of the limited partner. PE funds invest the institutional money in private (target) companies and these investments are typically structured as equity claims respectively similar to equity claims. An investment vehicle is created for each indi ...
... the limited partner. The PE fund's investors hold shares of the limited partner. PE funds invest the institutional money in private (target) companies and these investments are typically structured as equity claims respectively similar to equity claims. An investment vehicle is created for each indi ...
Project and Investment Appraisal for Sustainable Value
... conjunction with professionals from other disciplines, are likely to engage. By setting out principles for each topic, the documents create a contextual background for the more detailed methods and techniques used by professional accountants in business. A significant feature of the IGPG series is i ...
... conjunction with professionals from other disciplines, are likely to engage. By setting out principles for each topic, the documents create a contextual background for the more detailed methods and techniques used by professional accountants in business. A significant feature of the IGPG series is i ...
Victory CEMP US 500 Enhanced Volatility Wtd Index Fund
... the Index. The Fund’s return may not match the return of the Index. The value of the equity securities in which the Fund invests may decline in response to developments affecting individual companies and/or general economic conditions. The Fund may be subject to liquidity risk if the Advisor is not ...
... the Index. The Fund’s return may not match the return of the Index. The value of the equity securities in which the Fund invests may decline in response to developments affecting individual companies and/or general economic conditions. The Fund may be subject to liquidity risk if the Advisor is not ...