The Macroeconomic Transition to High Household Debt Jeffrey R. Campbell Zvi Hercowitz
... From the middle 1930s until the early 1980s, 15 and 30 year amortized mortgages accounted for most of collateralized household debt. These required the home owner to take an initial equity share at the time of purchase and to accumulate further equity as the debt amortizes. The implied forced savin ...
... From the middle 1930s until the early 1980s, 15 and 30 year amortized mortgages accounted for most of collateralized household debt. These required the home owner to take an initial equity share at the time of purchase and to accumulate further equity as the debt amortizes. The implied forced savin ...
First-Time International Bond Issuance—New Opportunities
... 1997. Guatemala is excluded as it had issued on an ongoing basis since 1997, and is not considered a newcomer by investors. Sri Lanka is included as its pre-2004 issuance was for a very small amount. ...
... 1997. Guatemala is excluded as it had issued on an ongoing basis since 1997, and is not considered a newcomer by investors. Sri Lanka is included as its pre-2004 issuance was for a very small amount. ...
Domestic Government Debt Structure, Risk Characteristics
... non-bank public. Thus even if the non-Central Bank subscriptions were zero, ‘mandatory take-up’ guarantees the government the full amount of any issues of treasury bills, treasury certificates or development stocks required to finance its budget. The CBN also provides a secondary market for governme ...
... non-bank public. Thus even if the non-Central Bank subscriptions were zero, ‘mandatory take-up’ guarantees the government the full amount of any issues of treasury bills, treasury certificates or development stocks required to finance its budget. The CBN also provides a secondary market for governme ...
CEPR POLICY INSIGHT No . 51 - Centre for Economic Policy
... to recall that public debt problems of the advanced industrial countries are ‘won’t pay’ problems, not ‘can’t play’ problems. More precisely, these countries face the political economy problem of having to agree on, design and implement a fiscal burden sharing agreement – one that commands sufficien ...
... to recall that public debt problems of the advanced industrial countries are ‘won’t pay’ problems, not ‘can’t play’ problems. More precisely, these countries face the political economy problem of having to agree on, design and implement a fiscal burden sharing agreement – one that commands sufficien ...
Download attachment
... existing investors to increase the proportion of assets they allocated to private-equity funds, providing the industry with additional fuel for growth. The California State Teachers’ Retirement System (CalSTRS), for example, more than tripled its private-equity asset allocation from 2.3 percent to 7 ...
... existing investors to increase the proportion of assets they allocated to private-equity funds, providing the industry with additional fuel for growth. The California State Teachers’ Retirement System (CalSTRS), for example, more than tripled its private-equity asset allocation from 2.3 percent to 7 ...
Choice of comparable firms for multiple valuation
... Industry classes are subjectively defined and subjectively chosen Companies within the same industry class can be very different from each other ...
... Industry classes are subjectively defined and subjectively chosen Companies within the same industry class can be very different from each other ...
WHICH FACTORS DETERMINE SOVEREIGN CREDIT RATINGS
... variables that seem to be relevant to explain the relationship between these variables and a government’s ability and willingness to pay its debt. Mckenzie proposed an alternative approach by using a principal components analysis (PCA hereafter) to identify, among the 46 variables of his data set, t ...
... variables that seem to be relevant to explain the relationship between these variables and a government’s ability and willingness to pay its debt. Mckenzie proposed an alternative approach by using a principal components analysis (PCA hereafter) to identify, among the 46 variables of his data set, t ...
Bankruptcy Court Proof of Claim form
... request for payment of an administrative expense, other than a claim entitled to administrative priority pursuant to 11 U.S.C. § 503(b)(9). Make such a request according to 11 U.S.C. § 503. Filers must leave out or redact information that is entitled to privacy on this form or on any attached docume ...
... request for payment of an administrative expense, other than a claim entitled to administrative priority pursuant to 11 U.S.C. § 503(b)(9). Make such a request according to 11 U.S.C. § 503. Filers must leave out or redact information that is entitled to privacy on this form or on any attached docume ...
Word 2002 Format
... Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources ...
... Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources ...
Growth in the shadow of expropriation"
... investment. In a highly distorted political environment, governments are unwilling to reduce their sovereign debt quickly, as the desire for immediate consumption outweighs the future benefits of less overhanging debt. In this manner, the model is able to reconcile the mixed results that countries h ...
... investment. In a highly distorted political environment, governments are unwilling to reduce their sovereign debt quickly, as the desire for immediate consumption outweighs the future benefits of less overhanging debt. In this manner, the model is able to reconcile the mixed results that countries h ...
Funding Strategies of Sovereign Debt Management: A Risk
... banks to partly or fully independent entities. This operational transformation has been accompanied by a change of debt management objectives, i.e. a shift from a macroeconomic perspective to the expected cost minimization objective (Hoogduin et al., 2010). Nowadays most of the debt management offic ...
... banks to partly or fully independent entities. This operational transformation has been accompanied by a change of debt management objectives, i.e. a shift from a macroeconomic perspective to the expected cost minimization objective (Hoogduin et al., 2010). Nowadays most of the debt management offic ...
OPTIMAL TAXATION WITH ENDOGENOUS DEFAULT UNDER INCOMPLETE MARKETS
... feasibility. If the government defaults, the economy enters temporary financial autarky and faces exogenous offers to pay a fraction of the defaulted debt that arrive at an exogenous rate.5 The government has the option to accept the offer – and thus exit financial autarky – or to stay in financial ...
... feasibility. If the government defaults, the economy enters temporary financial autarky and faces exogenous offers to pay a fraction of the defaulted debt that arrive at an exogenous rate.5 The government has the option to accept the offer – and thus exit financial autarky – or to stay in financial ...
Week 11 Slides
... should Massey fail, the firm fell into financial distress. Massey’s original shareholders were wiped out as a result of the restructuring. ...
... should Massey fail, the firm fell into financial distress. Massey’s original shareholders were wiped out as a result of the restructuring. ...
Multiple Discriminant Analysis
... © 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. ...
... © 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. ...
selection from a published volume from the of Economic Research
... Households supply labor and deposit savings in local banks. Banks, in turn, grant loans to entrepreneurs and invest in bonds issued by the domestic and the foreign government. Agents in both countries derive utility from consumption. In each country, entrepreneurs produce final goods using capital a ...
... Households supply labor and deposit savings in local banks. Banks, in turn, grant loans to entrepreneurs and invest in bonds issued by the domestic and the foreign government. Agents in both countries derive utility from consumption. In each country, entrepreneurs produce final goods using capital a ...
AIF_Products Expanded Debt Capacity June 2010 Size
... This information has been prepared solely for informational purposes and is not intended to provide or should not be relied upon for accounting, legal, tax, or investment advice. The factual statements herein have been taken from sources believed to be reliable, but such statements are made without ...
... This information has been prepared solely for informational purposes and is not intended to provide or should not be relied upon for accounting, legal, tax, or investment advice. The factual statements herein have been taken from sources believed to be reliable, but such statements are made without ...
Dynamic Monitoring of Financial Intermediaries with Subordinated
... characteristics of the security, such as embedded options, liquidity of the particular issue, etc, plus it will contain information about the state of riskness of the corporation. Our hypothesis is that within the idiosyncratic component of each security, the risk signal should be common to the thre ...
... characteristics of the security, such as embedded options, liquidity of the particular issue, etc, plus it will contain information about the state of riskness of the corporation. Our hypothesis is that within the idiosyncratic component of each security, the risk signal should be common to the thre ...
Implications of Globalization on Growing External Debt in Eight
... In this chapter, the authors aim to analyze the external debt dynamics in the eight transition economies – Bulgaria, Croatia, Czech Republic, Hungary, Romania, Slovakia, Slovenia, and Serbia, in the period 1991-2014. The external debt situation within this group of countries differs strongly from th ...
... In this chapter, the authors aim to analyze the external debt dynamics in the eight transition economies – Bulgaria, Croatia, Czech Republic, Hungary, Romania, Slovakia, Slovenia, and Serbia, in the period 1991-2014. The external debt situation within this group of countries differs strongly from th ...
Government Deficits and Debt - The Office of the Auditor General in
... levels, primarily over the past 10 years, based on Public Accounts data, and annual Budgets. Data was assembled from Public Accounts, analysis conducted, trends noted, and certain excerpts from Public Accounts provided to inform on this issue. Reviewed material from Manitoba Hydro’s long-term In ...
... levels, primarily over the past 10 years, based on Public Accounts data, and annual Budgets. Data was assembled from Public Accounts, analysis conducted, trends noted, and certain excerpts from Public Accounts provided to inform on this issue. Reviewed material from Manitoba Hydro’s long-term In ...
Dissociation and Compulsive Eating
... normal reactions to abnormal deprivation. In order to work through the actual compulsive eating episodes, we must first be able to distinguish them from “binges” that are in response to deprivation. The only way to be sure is to ask yourself if you are physically hungry first. If the answer is “yes” ...
... normal reactions to abnormal deprivation. In order to work through the actual compulsive eating episodes, we must first be able to distinguish them from “binges” that are in response to deprivation. The only way to be sure is to ask yourself if you are physically hungry first. If the answer is “yes” ...
Belief Regimes and Sovereign Debt Crises
... in spreads and debt crises. If such news shocks played an important role, then one would expect to see high spreads forecast negative future fundamentals. In the third panel we illustrate the lack of a tight connection between news about fundamentals and spreads by again graphing growth rate histogr ...
... in spreads and debt crises. If such news shocks played an important role, then one would expect to see high spreads forecast negative future fundamentals. In the third panel we illustrate the lack of a tight connection between news about fundamentals and spreads by again graphing growth rate histogr ...
GambaTriantis2013HEC.. - University of Warwick
... sweep covenant is similar to secured debt. Morellec (2001) explores the joint effects of asset liquidity and pledging assets as collateral on the debt capacity of a firm. ...
... sweep covenant is similar to secured debt. Morellec (2001) explores the joint effects of asset liquidity and pledging assets as collateral on the debt capacity of a firm. ...
mmi13 Egert 19074760 en
... these results are very sensitive to the time dimension and country coverage considered, data frequency (annual data vs. multi-year averages) and assumptions on the minimum number of observations required in each nonlinear regime. We also show that nonlinear effects are likely to kick in at much lowe ...
... these results are very sensitive to the time dimension and country coverage considered, data frequency (annual data vs. multi-year averages) and assumptions on the minimum number of observations required in each nonlinear regime. We also show that nonlinear effects are likely to kick in at much lowe ...
Proof of Claim - Cases
... 11 U.S.C. § 503(b)(9), do not use this form to make a request for payment of an administrative expense. Make such a request according to 11 U.S.C. § 503. Filers must leave out or redact information that is entitled to privacy on this form or on any attached documents. Attach redacted copies of any d ...
... 11 U.S.C. § 503(b)(9), do not use this form to make a request for payment of an administrative expense. Make such a request according to 11 U.S.C. § 503. Filers must leave out or redact information that is entitled to privacy on this form or on any attached documents. Attach redacted copies of any d ...