Secular Stagnation, Rational Bubbles, and Fiscal
... condition for Pay-As-You-Go (PAYG) pension systems to be more e¢ cient than funded systems. Bubbles are a substitute for PAYG pensions: the young pay the old either by buying their bubbly asset, or by the government taxing them to pay pensions to the old. Though widely di¤erent from a …nancial point ...
... condition for Pay-As-You-Go (PAYG) pension systems to be more e¢ cient than funded systems. Bubbles are a substitute for PAYG pensions: the young pay the old either by buying their bubbly asset, or by the government taxing them to pay pensions to the old. Though widely di¤erent from a …nancial point ...
Changing Global Financial Structures: Can They Improve Economic
... he global financial crisis has required policymakers to reconsider the role that the structure of their financial systems plays in achieving good economic outcomes. A number of forces can be expected to change financial intermediation structures in the period ahead, including crisis intervention mea ...
... he global financial crisis has required policymakers to reconsider the role that the structure of their financial systems plays in achieving good economic outcomes. A number of forces can be expected to change financial intermediation structures in the period ahead, including crisis intervention mea ...
Paper
... types of Ponzi schemes, such as extending the breadth of pay-as-you-go systems. The idea that the economy has accumulated enough capital may seem counterintuitive, to say the least, to many. With an ageing population, shouldn’t the old generation care more about the less numerous young generation a ...
... types of Ponzi schemes, such as extending the breadth of pay-as-you-go systems. The idea that the economy has accumulated enough capital may seem counterintuitive, to say the least, to many. With an ageing population, shouldn’t the old generation care more about the less numerous young generation a ...
***** 1
... values at that date. Any difference between the cost of the business combination and the acquirer’s interest in the net fair value of the identifiable assets, liabilities and provisions for contingent liabilities so recognized shall be accounted as ‘negative goodwill’ or gain from bargain purchase. ...
... values at that date. Any difference between the cost of the business combination and the acquirer’s interest in the net fair value of the identifiable assets, liabilities and provisions for contingent liabilities so recognized shall be accounted as ‘negative goodwill’ or gain from bargain purchase. ...
2006-11-PE - Public Services International Research Unit
... obligation to publish detailed data, eg quarterly earnings figures, and can operate without public scrutiny. The activity of PE investors has become very controversial. In Germany, they were described as “locusts” during the 2006 election campaigns. This is because PE funds have often introduced sha ...
... obligation to publish detailed data, eg quarterly earnings figures, and can operate without public scrutiny. The activity of PE investors has become very controversial. In Germany, they were described as “locusts” during the 2006 election campaigns. This is because PE funds have often introduced sha ...
Vo l u m e 6 5 ... C o n t e n t s
... steps to ensure that market disciplines are working effectively, while seeking to minimise the destabilising effects of excessive volatility sometimes associated with financial markets. Finally, this edition of the Bulletin contains a summary of the results of the survey of Bulletin readers conducte ...
... steps to ensure that market disciplines are working effectively, while seeking to minimise the destabilising effects of excessive volatility sometimes associated with financial markets. Finally, this edition of the Bulletin contains a summary of the results of the survey of Bulletin readers conducte ...
Sources of firms` industry and country effects in
... The individual firm constituents of MSCI global index at the end of year 2002 define our data sample. There are altogether 2179 firms from 23 developed markets and 27 emerging markets, covering the period from Jan 1990 to Dec 2002. Firms with fewer than 3 years of data and countries with fewer than ...
... The individual firm constituents of MSCI global index at the end of year 2002 define our data sample. There are altogether 2179 firms from 23 developed markets and 27 emerging markets, covering the period from Jan 1990 to Dec 2002. Firms with fewer than 3 years of data and countries with fewer than ...
The Financial Intermediation Premium in the Cross Section of Stock
... In my benchmark specification, I construct three portfolios with low, medium, and high financial intermediary leverage (FILe) as follows. First, based on information from syndicated loans, I establish links (borrower-lender relationships) between firms and the financial institutions from which these ...
... In my benchmark specification, I construct three portfolios with low, medium, and high financial intermediary leverage (FILe) as follows. First, based on information from syndicated loans, I establish links (borrower-lender relationships) between firms and the financial institutions from which these ...
Financial Aspects of Recent Trends in the Global Economy
... motivation is to see how nations operating on different economic development models respond to the same systemic financial threat, how central banks in those countries conduct monetary policy, and whether there is a factual interaction between the two. Four countries have been chosen for the purpose ...
... motivation is to see how nations operating on different economic development models respond to the same systemic financial threat, how central banks in those countries conduct monetary policy, and whether there is a factual interaction between the two. Four countries have been chosen for the purpose ...
Retirement Security in an Aging Population James M. Poterba
... modern medical advances succeeded in prolonging life for those in poor health, or longer periods of good health, as might be the case if changes in lifestyle or medical progress delayed the onset of debilitating diseases. Recent studies support the second view: age-specific disability rates have fal ...
... modern medical advances succeeded in prolonging life for those in poor health, or longer periods of good health, as might be the case if changes in lifestyle or medical progress delayed the onset of debilitating diseases. Recent studies support the second view: age-specific disability rates have fal ...
Working Paper 135/13 THE PSYCHOLOGY AND ECONOMICS OF
... owner, and to lower the periodical amount based on the current market value. Expectations were high when the product was launched, but it was hardly sold, which may be due to bad timing ex post (financial crisis), the high and stable retirement income of those retired before 2008 as well as their li ...
... owner, and to lower the periodical amount based on the current market value. Expectations were high when the product was launched, but it was hardly sold, which may be due to bad timing ex post (financial crisis), the high and stable retirement income of those retired before 2008 as well as their li ...
Stronger Support for Growth in Challenging Times Annual Report
... its debut local currency bonds in Romanian Leu. Additionally, the Bank issued a bond in the Georgian Lari domestic market reinvesting the proceeds in the local economy and helping eliminate foreign exchange risk for the borrower. The Bank continued raising funds in international capital markets to i ...
... its debut local currency bonds in Romanian Leu. Additionally, the Bank issued a bond in the Georgian Lari domestic market reinvesting the proceeds in the local economy and helping eliminate foreign exchange risk for the borrower. The Bank continued raising funds in international capital markets to i ...
Investor Report RBS Citizens Financial Group, Inc. March 31, 2013
... the relative strength or weakness of the consumer and commercial credit sectors and of the real estate markets in the markets in which the Company’s borrowers are located; ...
... the relative strength or weakness of the consumer and commercial credit sectors and of the real estate markets in the markets in which the Company’s borrowers are located; ...
Monetary Policy, Financial Conditions, and Financial Stability
... financial vulnerabilities and hence increase risks to financial stability. Risks to financial stability are the potential for widespread financial externalities, such as from asset sales and contagion, that can result in large negative outcomes for output. In this paper, we argue that macroprudentia ...
... financial vulnerabilities and hence increase risks to financial stability. Risks to financial stability are the potential for widespread financial externalities, such as from asset sales and contagion, that can result in large negative outcomes for output. In this paper, we argue that macroprudentia ...
A new approach to assessing risks to financial stability
... estimates of potential losses on credit and market exposures, from reductions in income generation, from additional funding costs and from operational risk. The major UK banks account for around 80% of borrowing and lending to UK individuals and corporates, so the focus on these firms provides a pla ...
... estimates of potential losses on credit and market exposures, from reductions in income generation, from additional funding costs and from operational risk. The major UK banks account for around 80% of borrowing and lending to UK individuals and corporates, so the focus on these firms provides a pla ...
innovative strategies to help maximize social security benefits
... This benefit is often thought of as being the greater of what a spouse earns on his/her own work record, or one-half of the other spouse’s benefit. Unfortunately, it gets more complicated than that. To understand how the spousal benefit works, let’s assume that we have a married couple in which Ken ...
... This benefit is often thought of as being the greater of what a spouse earns on his/her own work record, or one-half of the other spouse’s benefit. Unfortunately, it gets more complicated than that. To understand how the spousal benefit works, let’s assume that we have a married couple in which Ken ...
November 2016 - JOM Fund Management
... economic cycle is gaining strength after hitting the bottom in 2015. In the light of these factors, Indonesia has not been labelled as a weak case by the financial media, either. ...
... economic cycle is gaining strength after hitting the bottom in 2015. In the light of these factors, Indonesia has not been labelled as a weak case by the financial media, either. ...
Management Accounting Practices in Egypt
... the benefits that accrue from using traditional MAPs were “very high”. They concluded that there is a need for future studies in the use of MAPs to be grounded in theory and not merely exploratory and descriptive and called for a rigorous statistical analysis of results in an attempt to examine spec ...
... the benefits that accrue from using traditional MAPs were “very high”. They concluded that there is a need for future studies in the use of MAPs to be grounded in theory and not merely exploratory and descriptive and called for a rigorous statistical analysis of results in an attempt to examine spec ...
The Link Between Job Satisfaction and Firm Value
... of improved productivity, there is no effect on overall labor efficiency (output per dollar cost). Moreover, the cost of increasing job satisfaction may include not only direct financial expenses, but also increased risk. Firms with high job satisfaction are often human capital–intensive, making the ...
... of improved productivity, there is no effect on overall labor efficiency (output per dollar cost). Moreover, the cost of increasing job satisfaction may include not only direct financial expenses, but also increased risk. Firms with high job satisfaction are often human capital–intensive, making the ...
here - Pearson
... Liabilities Current Liabilities – Accrued Liabilities Example – Assume that a company has a $100,000 note outstanding with 12% interest due in semiannual installments on March 31 and September 30. For a balance sheet prepared on December 31, interest will be accrued for three months (October, Novem ...
... Liabilities Current Liabilities – Accrued Liabilities Example – Assume that a company has a $100,000 note outstanding with 12% interest due in semiannual installments on March 31 and September 30. For a balance sheet prepared on December 31, interest will be accrued for three months (October, Novem ...
Fair value accounting and procyclical behavior in the
... research critical to the current trends in accounting, as well as questioning of the most fundamental assumption on which the leading financial accounting systems are based (Arnold, 2009; Laux & Leuz, 2009). These fundamental assumptions being called into question include, but are not limited to, tr ...
... research critical to the current trends in accounting, as well as questioning of the most fundamental assumption on which the leading financial accounting systems are based (Arnold, 2009; Laux & Leuz, 2009). These fundamental assumptions being called into question include, but are not limited to, tr ...
NBER WORKING PAPER SERIES IN SEARCH OF DISTRESS RISK John Y. Campbell
... measure of financial distress, and in the second step we calculate the average returns on distressed stocks. We start by considering two alternative ways in which a firm may fail to meet its financial obligations. First, we look at bankruptcy filings under either Chapter 7 or Chapter 11 of the bankr ...
... measure of financial distress, and in the second step we calculate the average returns on distressed stocks. We start by considering two alternative ways in which a firm may fail to meet its financial obligations. First, we look at bankruptcy filings under either Chapter 7 or Chapter 11 of the bankr ...
Accounting Characteristics and Performance of the Thai Value and
... Growth stocks are found to outperform value stocks over the long run. Beneda (2002) examines the returns of growth stocks (or stock with high P/E ratio), and value stocks over the long period, up to 18 years. The study period covers from the end of 1983 through November 2001. The portfolio formation ...
... Growth stocks are found to outperform value stocks over the long run. Beneda (2002) examines the returns of growth stocks (or stock with high P/E ratio), and value stocks over the long period, up to 18 years. The study period covers from the end of 1983 through November 2001. The portfolio formation ...
Financial Access 2012 Getting to a More Comprehensive Picture Forum
... increasingly robust global financial inclusion data architecture in a few short years. The IMF’s Financial Access Survey (FAS) and the World Bank’s Global Financial Inclusion Database (Global Findex) represent major global and comprehensive supply- and demand-side datasets. At the national level, co ...
... increasingly robust global financial inclusion data architecture in a few short years. The IMF’s Financial Access Survey (FAS) and the World Bank’s Global Financial Inclusion Database (Global Findex) represent major global and comprehensive supply- and demand-side datasets. At the national level, co ...