Banking fragility and distress: An econometric study of
... Lowe’s noise to signal ratio will be more than halved (from .13 to .06) when signalling horizon increases from one to three years. Hansen’s (2003) similar study in the Nordic countries indicates a very high predictive power of lending and house prices for firm bankruptcies. Davis and Zhu (2004) get ...
... Lowe’s noise to signal ratio will be more than halved (from .13 to .06) when signalling horizon increases from one to three years. Hansen’s (2003) similar study in the Nordic countries indicates a very high predictive power of lending and house prices for firm bankruptcies. Davis and Zhu (2004) get ...
Financing the Future: Report of the Italian National
... Banking: According to the Banks and Green Economy report and the Banks Observatory lead by ABI, Italy’s banks have lent €27 billion between 2007 and 2014 for renewable energy, including €18 billion for solar. Investment in energy efficiency, notably in the building sector, has high potential, but fa ...
... Banking: According to the Banks and Green Economy report and the Banks Observatory lead by ABI, Italy’s banks have lent €27 billion between 2007 and 2014 for renewable energy, including €18 billion for solar. Investment in energy efficiency, notably in the building sector, has high potential, but fa ...
Liquidity provision, banking, and the allocation of interest rate risk*
... endogenous. Variations in future interest rates must be caused by variations in exogenous data, at least if one neglects sunspot phenomena. Any welfare analysis of the allocation of interest rate risk must take account of the exogenous source of this risk. Leaving aside the role of monetary and fisc ...
... endogenous. Variations in future interest rates must be caused by variations in exogenous data, at least if one neglects sunspot phenomena. Any welfare analysis of the allocation of interest rate risk must take account of the exogenous source of this risk. Leaving aside the role of monetary and fisc ...
fossil-fuel investments in the norwegian
... Observation and Exclusion. This would allow for exclusion of companies on a caseby-case basis where there is an unacceptable risk that the company contributes to or is responsible for acts or omissions that, on an aggregate company level, are severely harmful to the climate. The interpretation and a ...
... Observation and Exclusion. This would allow for exclusion of companies on a caseby-case basis where there is an unacceptable risk that the company contributes to or is responsible for acts or omissions that, on an aggregate company level, are severely harmful to the climate. The interpretation and a ...
Heartland Group, Inc.
... Heartland Group, Inc., 789 N. Water Street, Suite 500, Milwaukee, WI 53202 (Name and address of agent for service) Ellen Drought; Godfrey & Kahn, S.C., 780 N. Water Street, Milwaukee, WI 53202 (With a copy to:) Registrant’s telephone number, including area code: (414) 347-7777 Date of fiscal year en ...
... Heartland Group, Inc., 789 N. Water Street, Suite 500, Milwaukee, WI 53202 (Name and address of agent for service) Ellen Drought; Godfrey & Kahn, S.C., 780 N. Water Street, Milwaukee, WI 53202 (With a copy to:) Registrant’s telephone number, including area code: (414) 347-7777 Date of fiscal year en ...
here - TIAA
... The broader NPI measures the time-weighted total rate of rate return for a very large pool of U.S. commercial and residential real estate properties held by institutional investors, removing the effects of any leverage (i.e., mortgage debt attached to the properties). The NPI is a property-only inde ...
... The broader NPI measures the time-weighted total rate of rate return for a very large pool of U.S. commercial and residential real estate properties held by institutional investors, removing the effects of any leverage (i.e., mortgage debt attached to the properties). The NPI is a property-only inde ...
Economic Governance Structures in the United States
... This report summarizes the history and organization of the principal economic governance institutions in the United States. Particular emphasis is given to the main U.S. fiscal actors at the federal and state and local governmental level. Sources and beneficiaries of, and trends in government revenu ...
... This report summarizes the history and organization of the principal economic governance institutions in the United States. Particular emphasis is given to the main U.S. fiscal actors at the federal and state and local governmental level. Sources and beneficiaries of, and trends in government revenu ...
Market-Consistent Valuation of Long-Term
... In this paper, we contribute to the latter approach and evaluate portfolios of insurance contracts. We focus on the market-consistent embedded value (MCEV) methodology as proposed by the European Chief Financial O cer Forum (see CFO Forum, 2009). Market-consistent embedded value calculations are the ...
... In this paper, we contribute to the latter approach and evaluate portfolios of insurance contracts. We focus on the market-consistent embedded value (MCEV) methodology as proposed by the European Chief Financial O cer Forum (see CFO Forum, 2009). Market-consistent embedded value calculations are the ...
Does the difference in valuation between domestic and foreign
... Using the panel data from 2000 to 2004, we find strong support for our hypothesis. Specifically, we find that the valuation difference—foreign minus domestic—for a domestic stock is significantly and positively related to its foreign ownership. This means that foreigners hold the stocks for which their ...
... Using the panel data from 2000 to 2004, we find strong support for our hypothesis. Specifically, we find that the valuation difference—foreign minus domestic—for a domestic stock is significantly and positively related to its foreign ownership. This means that foreigners hold the stocks for which their ...
= Best Long-Term Shareholder Value
... Irish Residential Properties REIT plc (“I-RES” or the “Company”) is a growth-oriented Real Estate Investment Trust (“REIT”) that owns 2,064 apartments in Dublin, Ireland. As the largest non-governmental residential landlord in Ireland, the Company is focused on acquiring, holding and professionally ...
... Irish Residential Properties REIT plc (“I-RES” or the “Company”) is a growth-oriented Real Estate Investment Trust (“REIT”) that owns 2,064 apartments in Dublin, Ireland. As the largest non-governmental residential landlord in Ireland, the Company is focused on acquiring, holding and professionally ...
What does market discipline mean
... sense only screen the borrowing banks’ risk (prior to the lending) rather than monitor by the lending banks. They also argue that the reason for weak evidence of market discipline may due to their focus on the highly developed banking markets, where interbank exposures are mostly caused by short-ter ...
... sense only screen the borrowing banks’ risk (prior to the lending) rather than monitor by the lending banks. They also argue that the reason for weak evidence of market discipline may due to their focus on the highly developed banking markets, where interbank exposures are mostly caused by short-ter ...
Innovation and productivity growth in the EU services sector
... the engine of prosperity in Europe for much of the past century. Even today, European countries pride themselves on their manufacturing heritage and retain a global technological lead in many industries. But when we look more closely at economic growth in Europe, we see that manufacturing has long t ...
... the engine of prosperity in Europe for much of the past century. Even today, European countries pride themselves on their manufacturing heritage and retain a global technological lead in many industries. But when we look more closely at economic growth in Europe, we see that manufacturing has long t ...
Lecture 1
... Alternatively, we can use the implicitly defined ‘current account function’, since at the autarky interest rate, CA1 = 0: CA1 (r A , Y1 , Y2 ) = 0 If r A > r , then future consumption is cheaper under autarky in our country compared to the rest of the world. We will import current consumption and ex ...
... Alternatively, we can use the implicitly defined ‘current account function’, since at the autarky interest rate, CA1 = 0: CA1 (r A , Y1 , Y2 ) = 0 If r A > r , then future consumption is cheaper under autarky in our country compared to the rest of the world. We will import current consumption and ex ...
Real Estate Market Risk in Bank Stock Returns: Evidence for 15
... and by the corresponding reduction of collaterals. Also, the drop in real estate prices tends to result in greater awareness by banks of the perceived risks of real estate loans. For these reasons, it is very likely that a significant decrease in bank credit granting will occur when real estate mark ...
... and by the corresponding reduction of collaterals. Also, the drop in real estate prices tends to result in greater awareness by banks of the perceived risks of real estate loans. For these reasons, it is very likely that a significant decrease in bank credit granting will occur when real estate mark ...
2nd Con Doc on NBNI G
... Certain IOSCO member authorities may consider rule proposals or standards that relate to the substance of this report. These authorities provided information to IOSCO or otherwise participated in IOSCO’s contribution to the preparation of this report, but their participation should not be viewed as ...
... Certain IOSCO member authorities may consider rule proposals or standards that relate to the substance of this report. These authorities provided information to IOSCO or otherwise participated in IOSCO’s contribution to the preparation of this report, but their participation should not be viewed as ...
Tilburg University Model uncertainty and
... to innovations in the dierent risk factors. In the exposition of the advantages of BMA, we use an index of the 50 largest BHCs. In subsequent parts, we use various alternative indices (such as large, systemically important BHCs). We cover most of the candidate risk factors that have been previously ...
... to innovations in the dierent risk factors. In the exposition of the advantages of BMA, we use an index of the 50 largest BHCs. In subsequent parts, we use various alternative indices (such as large, systemically important BHCs). We cover most of the candidate risk factors that have been previously ...
Bargaining Power and Foreign Direct Investment in China: Can 1.3
... countries, including developing countries in Asia. And the entry of China into the World Trade Organization (WTO) may dramatically affect the types and quantity of FDI flowing to China, and the government's ability to manage and direct it. Indeed, many competitors in Southeast Asia and elsewhere wor ...
... countries, including developing countries in Asia. And the entry of China into the World Trade Organization (WTO) may dramatically affect the types and quantity of FDI flowing to China, and the government's ability to manage and direct it. Indeed, many competitors in Southeast Asia and elsewhere wor ...
Assessing the impact of the current financial and economic crisis... global FDI flows
... border mergers and acquisitions (M&As) and FDI flows, as compared to the same period of the previous year (UNCTAD, 2008b). A brutal shock in October 2008. During the first eight months of 2008, the world financial system went through a period of relative relief, leading to some optimism regarding t ...
... border mergers and acquisitions (M&As) and FDI flows, as compared to the same period of the previous year (UNCTAD, 2008b). A brutal shock in October 2008. During the first eight months of 2008, the world financial system went through a period of relative relief, leading to some optimism regarding t ...
Unit Pricing Discretion Policy
... Entry and exit prices for the Funds are based on market prices or valuations available at the end of the business day on which the application or withdrawal is taken to be received. An application or withdrawal is taken to be received on a business day if it is received before the cutoff time specif ...
... Entry and exit prices for the Funds are based on market prices or valuations available at the end of the business day on which the application or withdrawal is taken to be received. An application or withdrawal is taken to be received on a business day if it is received before the cutoff time specif ...
Kingdom of Bahrain: Financial System Stability Assessment
... Profitability surged in 2004–05, but historically, return on equity has been moderate for many institutions. The insurance sector is also well-capitalized. Available indicators for nonfinancial sectors show that household debt relative to disposable income is low but rising, and the corporate sector ...
... Profitability surged in 2004–05, but historically, return on equity has been moderate for many institutions. The insurance sector is also well-capitalized. Available indicators for nonfinancial sectors show that household debt relative to disposable income is low but rising, and the corporate sector ...
1. Macroeconomic developments across the euro area
... An assessment of developments in key macroeconomic variables in euro-area countries over a period spanning the creation of the euro area in 1999 reveals a number of interesting features. First, Member States have had diverse experiences in terms of GDP growth and inflation. Second, a closer look at ...
... An assessment of developments in key macroeconomic variables in euro-area countries over a period spanning the creation of the euro area in 1999 reveals a number of interesting features. First, Member States have had diverse experiences in terms of GDP growth and inflation. Second, a closer look at ...
The supplementary minimum price scheme
... Supplementary Minimum Price (S~lP) Scheme. The Government introduced the SMP Scheme at the start of the 1978/79 season to provide product prices to pastoral sector farmers at a level thought to be appropriate for income adequacy and for the encouragement of increased farm production (Sheppard and Bi ...
... Supplementary Minimum Price (S~lP) Scheme. The Government introduced the SMP Scheme at the start of the 1978/79 season to provide product prices to pastoral sector farmers at a level thought to be appropriate for income adequacy and for the encouragement of increased farm production (Sheppard and Bi ...
Capital flows to converging European economies
... The aim of the workshop organized by the Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission on 1 October 2010 in Brussels was to improve the understanding of the determinants, characteristics and prospects for foreign capital flows into converging European e ...
... The aim of the workshop organized by the Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission on 1 October 2010 in Brussels was to improve the understanding of the determinants, characteristics and prospects for foreign capital flows into converging European e ...
Global Infrastructure Investment
... In developing regions, such investment could help alleviate existing and nascent infrastructure bottlenecks. And for all economies, it would boost productive capacity and medium-term output. G20 finance ministers and central bank governors themselves have said that raising infrastructure investment ...
... In developing regions, such investment could help alleviate existing and nascent infrastructure bottlenecks. And for all economies, it would boost productive capacity and medium-term output. G20 finance ministers and central bank governors themselves have said that raising infrastructure investment ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: Housing and the Financial Crisis
... markets plays a small role in driving home prices in the models of FLVNa and FLVNb, despite its large depressing influence on interest rates. The reason is that a capital inflow into the safe bond market—by itself—raises risk premia on housing and equity, as domestic savers are forced out of the safe ...
... markets plays a small role in driving home prices in the models of FLVNa and FLVNb, despite its large depressing influence on interest rates. The reason is that a capital inflow into the safe bond market—by itself—raises risk premia on housing and equity, as domestic savers are forced out of the safe ...
Land banking
Land banking is the practice of aggregating parcels of land for future sale or development.While in many countries land banking may refer to various private real-estate investment schemes, in the United States it refers to the establishment of quasi-governmental county or municipal authorities purposed with managing an inventory of surplus land.