The Spectre of Mortgage Fraud: A PRIMER
... actuarial shortfall in Social Security and Medicare, like that in my neighbor’s pension plan, is very large. Down the road, someone is going to get the shaft. It could be my neighbor, it could be me, or it could be both of us. That is, people who are relying on the unfunded systems--public sector pe ...
... actuarial shortfall in Social Security and Medicare, like that in my neighbor’s pension plan, is very large. Down the road, someone is going to get the shaft. It could be my neighbor, it could be me, or it could be both of us. That is, people who are relying on the unfunded systems--public sector pe ...
Jeffrey This N. Cooper
... path. Will the path result from decentralized market forces, with direct private—sector access to foreign capital? Or does the path require active government intervention in the borrowing process? In sum, in addition to studying the correct path for borrowing, we must ask how that path may in fact b ...
... path. Will the path result from decentralized market forces, with direct private—sector access to foreign capital? Or does the path require active government intervention in the borrowing process? In sum, in addition to studying the correct path for borrowing, we must ask how that path may in fact b ...
Ending over-lending: assessing systemic risk with - ECB
... illustrate the association between high leverage and losses in credit and output, consumption versus savings decisions are over-looked. This shortcoming can be illustrated by way of a simple example. Say two borrowers each have ¿ 100,000 in income and ¿ 200,000 in debt, and hence both have a 200% de ...
... illustrate the association between high leverage and losses in credit and output, consumption versus savings decisions are over-looked. This shortcoming can be illustrated by way of a simple example. Say two borrowers each have ¿ 100,000 in income and ¿ 200,000 in debt, and hence both have a 200% de ...
financial repression in the 21st century
... government strives two aims simultaneously. Optimal design of financial repression in our model means the value of particular repression instrument as a function of model variables, which minimizes policy maker’s loss, resulted from the abovementioned trade-off (compared to the benchmark case where ...
... government strives two aims simultaneously. Optimal design of financial repression in our model means the value of particular repression instrument as a function of model variables, which minimizes policy maker’s loss, resulted from the abovementioned trade-off (compared to the benchmark case where ...
The Importance Of Using A Debtor`s Exact Name On A
... amendments to Article 9, effective in 45 jurisdictions as of July 1, 2013. She has been a guest speaker at various bar and trade organizations including the American Bar Association and Strafford Webinars. She is the editor of Forms Under Article 9 of the U.C.C. (Second Edition) and has been publish ...
... amendments to Article 9, effective in 45 jurisdictions as of July 1, 2013. She has been a guest speaker at various bar and trade organizations including the American Bar Association and Strafford Webinars. She is the editor of Forms Under Article 9 of the U.C.C. (Second Edition) and has been publish ...
Bubbles and Self-enforcing Debt (November 2007, with Guido Lorenzoni)
... in BR, we suppose that the only consequence of default is the denial of credit in all future periods. Following Kehoe and Levine (1993) and Alvarez and Jermann (2000), we formulate our model as a competitive equilibrium with endogenous debt limits, in which interest rates and debt limits adjust end ...
... in BR, we suppose that the only consequence of default is the denial of credit in all future periods. Following Kehoe and Levine (1993) and Alvarez and Jermann (2000), we formulate our model as a competitive equilibrium with endogenous debt limits, in which interest rates and debt limits adjust end ...
alba`s irony. urban autonomy and public finance in the
... Bruges, Ghent, and Antwerp raised loans to keep their war efforts going and sought help from the breakaway northern provinces by formally joining the Union of Utrecht concluded between them in 1579. However, the financial and military assistance provided by the north proved woefully inadequate. The ...
... Bruges, Ghent, and Antwerp raised loans to keep their war efforts going and sought help from the breakaway northern provinces by formally joining the Union of Utrecht concluded between them in 1579. However, the financial and military assistance provided by the north proved woefully inadequate. The ...
Chapter 6 Long-run aspects of fiscal policy and
... where the right-hand side is the real budget de…cit. This equation is in macroeconomics often called the dynamic government budget constraint (or DGBC for short) although it is in itself just an accounting identity conditional on M = 0. It says that if the real budget de…cit is positive and there is ...
... where the right-hand side is the real budget de…cit. This equation is in macroeconomics often called the dynamic government budget constraint (or DGBC for short) although it is in itself just an accounting identity conditional on M = 0. It says that if the real budget de…cit is positive and there is ...
II. Private Debt - University of Sussex
... is the value of investment at the start, which is known in this setting. Given the lack of firm specific information we set LGD as 20%. Our approach is consistent with Kealhofer (2003) and Gupton and Stein (2005) who argue that LGD values should be set with reference to historical averages to avoi ...
... is the value of investment at the start, which is known in this setting. Given the lack of firm specific information we set LGD as 20%. Our approach is consistent with Kealhofer (2003) and Gupton and Stein (2005) who argue that LGD values should be set with reference to historical averages to avoi ...
Latin American Examples to Analyze the Euro Question
... different, but only to a degree.8 Any external financing shortfall imposed by the crisis on peripheral economies that is not offset by liquidity support from external sources needs to be accommodated; therefore adjustment remains a problem. While the ability of the ECB to do what it takes to provide ...
... different, but only to a degree.8 Any external financing shortfall imposed by the crisis on peripheral economies that is not offset by liquidity support from external sources needs to be accommodated; therefore adjustment remains a problem. While the ability of the ECB to do what it takes to provide ...
SOAH DOCKET NO. 473-00-1328 PUC DOCKET NO. 22532
... referring to Return (Debt Service). For the 1999 test year period (October 1998 – September 1999), $16.8 M (or 7.4% of the total debt service assigned to the electric system) was allocated to the transmission function. Note that because rate base and depreciation expense do not enter into the determ ...
... referring to Return (Debt Service). For the 1999 test year period (October 1998 – September 1999), $16.8 M (or 7.4% of the total debt service assigned to the electric system) was allocated to the transmission function. Note that because rate base and depreciation expense do not enter into the determ ...
LDC Debt Policy
... home, The main idea of the policy was therefore to buy time. If enough debt service could be postponed, countries might be able to meet their remaining obligations by adopting austerity programs under IMF surveillance. As their export revenues grew, the countries would begin to look more creditworth ...
... home, The main idea of the policy was therefore to buy time. If enough debt service could be postponed, countries might be able to meet their remaining obligations by adopting austerity programs under IMF surveillance. As their export revenues grew, the countries would begin to look more creditworth ...
Long-Term Debt Management Plan
... both expenditures and funding sources was undertaken by departmental staff across the Region. Through the review, it was determined that certain capital expenditures could be deferred into later periods without negatively affecting the Region’s ability to maintain service levels. Doing so relieved m ...
... both expenditures and funding sources was undertaken by departmental staff across the Region. Through the review, it was determined that certain capital expenditures could be deferred into later periods without negatively affecting the Region’s ability to maintain service levels. Doing so relieved m ...
Commercial real estate debt
... three years of data and pay a fee of about £15,000 per annum. • A non-transparent model is used to calculate the default loss allocation, which may lead to issues under Solvency II. • Proxy data: There are various rich publicly available datasets that can be used as a proxy for CRE debt. Possible pr ...
... three years of data and pay a fee of about £15,000 per annum. • A non-transparent model is used to calculate the default loss allocation, which may lead to issues under Solvency II. • Proxy data: There are various rich publicly available datasets that can be used as a proxy for CRE debt. Possible pr ...
ABCD DISCUSSION PAPER SERIES www.cepr.org
... bailiffs and the other servants of law and order. But the coercive power of the state is not the only source of coercive power capable of enforcing contracts. Organised crime, vigilantes and other non-state enforcers can play that role also. Self-enforcement relies on debt service being in the perce ...
... bailiffs and the other servants of law and order. But the coercive power of the state is not the only source of coercive power capable of enforcing contracts. Organised crime, vigilantes and other non-state enforcers can play that role also. Self-enforcement relies on debt service being in the perce ...
Chapter 5 M F L
... per cent for the X Plan period. In comparison, the revenue deficit to GDP ratio was much smaller in 2007-08 (1.7 per cent) but rose sharply to 6.4 per cent in 2008-09. In the current year there was some improvement and the revenue deficit stood at 5.66 per cent. When revenue deficit is compared to r ...
... per cent for the X Plan period. In comparison, the revenue deficit to GDP ratio was much smaller in 2007-08 (1.7 per cent) but rose sharply to 6.4 per cent in 2008-09. In the current year there was some improvement and the revenue deficit stood at 5.66 per cent. When revenue deficit is compared to r ...
crowding
... (Recall m5 > 0.) Therefore the wealth effect reinforces the transactions effect, further increasing money demand. But does rB rise, rK rise, or both? ...
... (Recall m5 > 0.) Therefore the wealth effect reinforces the transactions effect, further increasing money demand. But does rB rise, rK rise, or both? ...
US Local Government General Obligation Debt
... An unlimited tax GO (GOULT) bond is typically a security backed by the full-faith-and-credit pledge and total taxing power of the local government. The GOULT pledge means the local government promises to do everything it can to meet debt service. The specific definition of the pledge is laid out in ...
... An unlimited tax GO (GOULT) bond is typically a security backed by the full-faith-and-credit pledge and total taxing power of the local government. The GOULT pledge means the local government promises to do everything it can to meet debt service. The specific definition of the pledge is laid out in ...
Refinancing Pressure and Earnings Management
... prior to seasoned equity issues (e.g., Kim and Park 2005, Cohen and Zarowin 2010, Teoh et al. 1998) and public debt issues (Liu et al. 2010). We attempt to bring together these different strands of literature to determine whether refinancing pressures that are more subtle than covenant violations en ...
... prior to seasoned equity issues (e.g., Kim and Park 2005, Cohen and Zarowin 2010, Teoh et al. 1998) and public debt issues (Liu et al. 2010). We attempt to bring together these different strands of literature to determine whether refinancing pressures that are more subtle than covenant violations en ...
05. The Impact of Expense Shocks on the Financial Distress of
... on the home. Advances in home equity lending have also allowed borrowers to extract equity-financing more easily from their homes, and this market has expanded to the secondary market of cash-out refinancing at high interest rates. In the same vein, car purchasers have a greater number of finance ch ...
... on the home. Advances in home equity lending have also allowed borrowers to extract equity-financing more easily from their homes, and this market has expanded to the secondary market of cash-out refinancing at high interest rates. In the same vein, car purchasers have a greater number of finance ch ...
Financial notes (PDF, 15 pp., 85 KB)
... announced that the preliminary results from the Fort Hills project front-end engineering and design (FEED) work suggest that estimated costs have risen considerably and, therefore, a final investment decision on both the mining and upgrading portions of the project will be deferred until a cost esti ...
... announced that the preliminary results from the Fort Hills project front-end engineering and design (FEED) work suggest that estimated costs have risen considerably and, therefore, a final investment decision on both the mining and upgrading portions of the project will be deferred until a cost esti ...
Vattenfall Full year 2016 results
... Vattenfall will provide 60 new charging points incorporated in the InCharge charging network, for electric vehicles to eight streets in Stockholm as part of the City of Stockholm’s initiative for more sustainable city environment and to help traffic become less independent of fossil-based fuels ...
... Vattenfall will provide 60 new charging points incorporated in the InCharge charging network, for electric vehicles to eight streets in Stockholm as part of the City of Stockholm’s initiative for more sustainable city environment and to help traffic become less independent of fossil-based fuels ...
On the logic, fairness and legality of discriminating
... non-residents, regardless of whether the debt is in local or foreign currency, whether it is issued at home or abroad. Conversely, domestic debt is debt by residents, regardless of whether the debt is in local or foreign currency, whether it is issued at home or abroad. So a Brady held by an Argent ...
... non-residents, regardless of whether the debt is in local or foreign currency, whether it is issued at home or abroad. Conversely, domestic debt is debt by residents, regardless of whether the debt is in local or foreign currency, whether it is issued at home or abroad. So a Brady held by an Argent ...
Sticky Leverage Joao Gomes, Urban Jermann and Lukas Schmid February 23, 2016
... role as a nominal transmission channel. Another important novelty of our paper is that we solve for firms’ time-consistent optimal policies for long-term debt when firms can adjust debt freely every period. We present a numerical approach that allows the analysis of model dynamics with perturbation ...
... role as a nominal transmission channel. Another important novelty of our paper is that we solve for firms’ time-consistent optimal policies for long-term debt when firms can adjust debt freely every period. We present a numerical approach that allows the analysis of model dynamics with perturbation ...
Sticky Leverage Joao Gomes, Urban Jermann and Lukas Schmid October 14, 2014
... role as a nominal transmission channel. Another important novelty of our paper is that we solve for firms’ time-consistent optimal policies for long-term debt when firms can adjust debt freely every period. We present a numerical approach that allows the analysis of model dynamics with perturbation ...
... role as a nominal transmission channel. Another important novelty of our paper is that we solve for firms’ time-consistent optimal policies for long-term debt when firms can adjust debt freely every period. We present a numerical approach that allows the analysis of model dynamics with perturbation ...