Portfolio Adjustment Costs and Asset Price Volatility with
... exists a strong linkage between funding liquidity, i.e. the ease with which investors can get funds, and market liquidity. Additionally, bond markets are also subject to considerable transaction costs, for example in the form of interest spreads. In this paper we study an infinite-horizon exchange e ...
... exists a strong linkage between funding liquidity, i.e. the ease with which investors can get funds, and market liquidity. Additionally, bond markets are also subject to considerable transaction costs, for example in the form of interest spreads. In this paper we study an infinite-horizon exchange e ...
Macroprudential policy and systemic risk
... • then starts to decline, although in the early phase of the crisis remains high (given falling nominal GDP it can even rise in the initial post-crisis years). • The deleveraging phase can therefore last several years, and in the event of a deep crisis the leverage ratio can, after a time, fall belo ...
... • then starts to decline, although in the early phase of the crisis remains high (given falling nominal GDP it can even rise in the initial post-crisis years). • The deleveraging phase can therefore last several years, and in the event of a deep crisis the leverage ratio can, after a time, fall belo ...
An Empirical Study on the Relationship Among China’s Real Estate
... There are not many literatures on the relations among the money supply, bank credit, real estate prices and interest rates. Most of the articles are discussing the empirical relations between two of them. WU Kangping, PI Shun et al. (2004)2 thought that the increase of the real estate prices led to ...
... There are not many literatures on the relations among the money supply, bank credit, real estate prices and interest rates. Most of the articles are discussing the empirical relations between two of them. WU Kangping, PI Shun et al. (2004)2 thought that the increase of the real estate prices led to ...
Vanguard`s framework for constructing globally diversified portfolios
... Notes on risk All investments are subject to risk, including the possible loss of the money you invest. Investments in bond funds are subject to interest rate, credit, and inflation risk. Prices of mid and small-cap stocks often fluctuate more than those of large-company stocks. Funds that concentra ...
... Notes on risk All investments are subject to risk, including the possible loss of the money you invest. Investments in bond funds are subject to interest rate, credit, and inflation risk. Prices of mid and small-cap stocks often fluctuate more than those of large-company stocks. Funds that concentra ...
British Investment Overseas 1870-1913
... returns, variances and co-variances among domestic and foreign assets, rational investors maximizing expected return for a given level of risk should have taken advantage of the diversification opportunities and include foreign asset classes in their portfolios. Estimates of British actual overseas ...
... returns, variances and co-variances among domestic and foreign assets, rational investors maximizing expected return for a given level of risk should have taken advantage of the diversification opportunities and include foreign asset classes in their portfolios. Estimates of British actual overseas ...
A Model-Based Approach to Constructing Corporate Bond Portfolios
... assessing default risk, another important application of the EDF model is valuing credit instruments, which leads to Moody’s Analytics’ Fair-value Spread framework. The FVS framework produces a modeled credit spread for a bond using inputs such as its EDF credit measure, loss given default (LGD), an ...
... assessing default risk, another important application of the EDF model is valuing credit instruments, which leads to Moody’s Analytics’ Fair-value Spread framework. The FVS framework produces a modeled credit spread for a bond using inputs such as its EDF credit measure, loss given default (LGD), an ...
Basic Accounting Principles and Guidelines Since
... Because of this basic accounting principle or guideline, an accountant might be allowed to violate another accounting principle if an amount is insignificant. Professional judgement is needed to decide whether an amount is insignificant or immaterial. An example of an obviously immaterial item is th ...
... Because of this basic accounting principle or guideline, an accountant might be allowed to violate another accounting principle if an amount is insignificant. Professional judgement is needed to decide whether an amount is insignificant or immaterial. An example of an obviously immaterial item is th ...
General Discussion - Federal Reserve Bank of Kansas City
... And his basic point is that as long as equity holders in emerging markets are subject to local shareholder protection, and debt holders in emerging markets can take their cases to courts in New York and London, we’re going to see more debt than equity. And debt, as we know, is really the source of c ...
... And his basic point is that as long as equity holders in emerging markets are subject to local shareholder protection, and debt holders in emerging markets can take their cases to courts in New York and London, we’re going to see more debt than equity. And debt, as we know, is really the source of c ...
Online version to email
... officer, or individuals having significant management responsibility. The Senior Associate should 1) participate in Headquarters’ and local chapter activities; 2) be responsible for disseminating educational materials and notices of RMA activities to the proper people within the institution; 3) over ...
... officer, or individuals having significant management responsibility. The Senior Associate should 1) participate in Headquarters’ and local chapter activities; 2) be responsible for disseminating educational materials and notices of RMA activities to the proper people within the institution; 3) over ...
Global currency trends through the financial crisis
... carry trade positions as investors reduced the amount of risk on their books. This initial unwind was relatively short-lived, but was later followed by a second round of deleveraging later following Lehman Brothers’ collapse in 2008 (see figure 5, which shows long positions held by Japanese margin t ...
... carry trade positions as investors reduced the amount of risk on their books. This initial unwind was relatively short-lived, but was later followed by a second round of deleveraging later following Lehman Brothers’ collapse in 2008 (see figure 5, which shows long positions held by Japanese margin t ...
Launch by GBL of an exchangeable bond for GDF SUEZ shares
... Admission of the Bonds to trading on the Euro MTF market of the Luxembourg Stock Exchange will be requested no later than 7 May 2013. Moreover, in compliance with IFRS, GBL will recognize for 2012 an impairment of EUR 758 million on its participation in GDF SUEZ, adjusting the net book value of the ...
... Admission of the Bonds to trading on the Euro MTF market of the Luxembourg Stock Exchange will be requested no later than 7 May 2013. Moreover, in compliance with IFRS, GBL will recognize for 2012 an impairment of EUR 758 million on its participation in GDF SUEZ, adjusting the net book value of the ...
foreign exchange risk premium determinants: case of - cerge-ei
... presence of dollarization a signi cant portion of agents' nancial wealth is allocated in terms of foreign currency denominated assets, resulting in an active market with foreign exchange denominated nancial instruments. ...
... presence of dollarization a signi cant portion of agents' nancial wealth is allocated in terms of foreign currency denominated assets, resulting in an active market with foreign exchange denominated nancial instruments. ...
Emerging Market Finance
... Majority action to amend and waive key bond terms (including payment terms, governing law, submission to jurisdiction, waiver of sovereign immunity) Appointment of bondholders committee upon Event of Default Initiation of acceleration by 25% bondholder vote In 2003, sovereigns that used CACs include ...
... Majority action to amend and waive key bond terms (including payment terms, governing law, submission to jurisdiction, waiver of sovereign immunity) Appointment of bondholders committee upon Event of Default Initiation of acceleration by 25% bondholder vote In 2003, sovereigns that used CACs include ...
HSI 12.31.16 - Stmt of Fin Condition
... Income Taxes We are included in HNAH's consolidated federal income tax return and in various combined state income tax returns. As such, we have entered into a tax allocation agreement with HNAH and its subsidiary entities (the "HNAH Group") included in the consolidated return which governs the curr ...
... Income Taxes We are included in HNAH's consolidated federal income tax return and in various combined state income tax returns. As such, we have entered into a tax allocation agreement with HNAH and its subsidiary entities (the "HNAH Group") included in the consolidated return which governs the curr ...
What is an Interest Rate Risk?
... underlying cash market while helping in evolving a better term structure as well as in price discovery. Interest rate futures can be used for three purposes: Hedging against interest rate risks, Arbitraging being a simultaneous buying and selling of futures taking advantage of a temporary price diff ...
... underlying cash market while helping in evolving a better term structure as well as in price discovery. Interest rate futures can be used for three purposes: Hedging against interest rate risks, Arbitraging being a simultaneous buying and selling of futures taking advantage of a temporary price diff ...
Financial (in)stability low interest rates and (un)conventional monetary policy
... The first reason relates to the classical problem of (ir)rational runs in which the market can push an economy into a “bad” equilibrium (see also De Grauwe and Ji, 2012), i.e. an equilibrium where it is profitable for investors to run on a sovereign, financial institution or a particular market. The ...
... The first reason relates to the classical problem of (ir)rational runs in which the market can push an economy into a “bad” equilibrium (see also De Grauwe and Ji, 2012), i.e. an equilibrium where it is profitable for investors to run on a sovereign, financial institution or a particular market. The ...
Reducing the Lower Bound on Market Interest Rates
... Nevertheless, the current debate suggests that there are serious incentive issues, especially with respect to market discipline and moral hazard. Given these considerations, some scholars have put forward a more radical solution: the removal of the zero bound by altering the existing monetary regime ...
... Nevertheless, the current debate suggests that there are serious incentive issues, especially with respect to market discipline and moral hazard. Given these considerations, some scholars have put forward a more radical solution: the removal of the zero bound by altering the existing monetary regime ...
Summer Fusion 2015
... The story of any company, no matter the size, the industry, or the country of origin, is told through its financial records and reports. Income, debt, revenue versus expenses, compensation, and cost of retaining customers can all be found on financial statements. http://executiveeducation.wharton.up ...
... The story of any company, no matter the size, the industry, or the country of origin, is told through its financial records and reports. Income, debt, revenue versus expenses, compensation, and cost of retaining customers can all be found on financial statements. http://executiveeducation.wharton.up ...
