Default Risk and Aggregate Fluctuations in Emerging Economies
... If the government defaults, it is assumed that current debts are erased and that it is not able to save or borrow. The government will remain in financial autarky for a stochastic number of periods. There is an exogenous constant probability θ that the government can reenter the market. This is a si ...
... If the government defaults, it is assumed that current debts are erased and that it is not able to save or borrow. The government will remain in financial autarky for a stochastic number of periods. There is an exogenous constant probability θ that the government can reenter the market. This is a si ...
NBER WORKING PAPER SERIES BUBBLY LIQUIDITY Emmanuel Farhi Jean Tirole
... Typically, bubbles do not lead to Pareto improvements. For example, the holders of outside liquidity in general lose from the emergence of a bubble, since it increases interest rates and lowers the price at which ...
... Typically, bubbles do not lead to Pareto improvements. For example, the holders of outside liquidity in general lose from the emergence of a bubble, since it increases interest rates and lowers the price at which ...
DOC - Investors
... the fourth quarter of 2000. Due to excess capacity and demand-induced product mix changes, coupled with overall decreased product demand and higher customer inventory levels, gross margins decreased from 31.6% in 2000 to 14.9% in 2001. The Company expects gross margin pressure to continue until such ...
... the fourth quarter of 2000. Due to excess capacity and demand-induced product mix changes, coupled with overall decreased product demand and higher customer inventory levels, gross margins decreased from 31.6% in 2000 to 14.9% in 2001. The Company expects gross margin pressure to continue until such ...
Herman J. Bierens - Personal.psu.edu
... absorbing boundaries for rating based corporate bond indices. Second, the rebalancing leads to changes in the index components and changes in the behavior of the index as well. The econometric model we propose is flexible enough to capture these special features of corporate bond indices. We assume ...
... absorbing boundaries for rating based corporate bond indices. Second, the rebalancing leads to changes in the index components and changes in the behavior of the index as well. The econometric model we propose is flexible enough to capture these special features of corporate bond indices. We assume ...
ESSAYS ON FINANCIAL LIBERALISATION AND BANKING
... account liberalisation and financial sector development play an important role in future economic growth. More specifically, in middle and lower income countries, capital account liberalisation and financial development also have a positive and significant relationship with economic growth; the effe ...
... account liberalisation and financial sector development play an important role in future economic growth. More specifically, in middle and lower income countries, capital account liberalisation and financial development also have a positive and significant relationship with economic growth; the effe ...
Off the Cliff and Back? Credit Conditions and ∗ Davin Chor
... financial shocks to exporters during the systemic crisis that plagued Japan in the 1990s. In terms of empirical approach, our work is closest to Iacovone and Zavacka (2009), who explore the effect of 23 banking crises on exports during the 1980-2006 period. Their paper also exploits a similar dimens ...
... financial shocks to exporters during the systemic crisis that plagued Japan in the 1990s. In terms of empirical approach, our work is closest to Iacovone and Zavacka (2009), who explore the effect of 23 banking crises on exports during the 1980-2006 period. Their paper also exploits a similar dimens ...
Oxera (2011) “Discount rates for low
... power plant were known. As such, and because the full impacts of the events are not yet clear, it has not been possible to assess what, if any, impact this natural disaster may have on risk perceptions or discount rates for nuclear power and other low-carbon generation technologies in the UK. A wide ...
... power plant were known. As such, and because the full impacts of the events are not yet clear, it has not been possible to assess what, if any, impact this natural disaster may have on risk perceptions or discount rates for nuclear power and other low-carbon generation technologies in the UK. A wide ...
2014 results - Lloyds Banking Group
... This document contains certain forward looking statements with respect to the business, strategy and plans of Lloyds Banking Group and its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about L ...
... This document contains certain forward looking statements with respect to the business, strategy and plans of Lloyds Banking Group and its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about L ...
chinese bank`s credit risk assessment - STORRE
... banks’ role and the consequence of credit to the economy in both the mainstream and Post Keynesian approach, through which the universality of uncertainty is justified. Considering the importance of history in the banking sector, Chick’s (1992, 1993) seven-stage framework of banking evolution is int ...
... banks’ role and the consequence of credit to the economy in both the mainstream and Post Keynesian approach, through which the universality of uncertainty is justified. Considering the importance of history in the banking sector, Chick’s (1992, 1993) seven-stage framework of banking evolution is int ...
US CORNER - Paul, Weiss
... may have given back some approval rights. Each situation will be unique not only because of the circumstances surrounding the borrower but because of the terms of the intercreditor agreement. These agreements are not standardised and will require careful analysis and review because differences in te ...
... may have given back some approval rights. Each situation will be unique not only because of the circumstances surrounding the borrower but because of the terms of the intercreditor agreement. These agreements are not standardised and will require careful analysis and review because differences in te ...
The Interplay Between Student Loans and Credit Cards: Implications for Default ∗
... college debt, credit card debt, and income of young borrowers with student loans aged 20-30 as delivered by the SCF 2004 as well as the 2-year CDR on student loans. Our results are consistent with the observed behavior in several ways: First, the incentive to default on student loans increases in c ...
... college debt, credit card debt, and income of young borrowers with student loans aged 20-30 as delivered by the SCF 2004 as well as the 2-year CDR on student loans. Our results are consistent with the observed behavior in several ways: First, the incentive to default on student loans increases in c ...
ANNUAL REPORT - Credit Libanais
... and other housing loans increased by 10%. Furthermore, in view of creating value for small and medium enterprises while supporting their sustainable development, the Bank provides them with advisory services to grow and carries out SME-oriented initiatives in accordance with long-term objectives and ...
... and other housing loans increased by 10%. Furthermore, in view of creating value for small and medium enterprises while supporting their sustainable development, the Bank provides them with advisory services to grow and carries out SME-oriented initiatives in accordance with long-term objectives and ...
Group annual financial statements
... International Financial Reporting Standards, as adopted by the International Accounting Standards Board (IASB), and interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) of the IASB. Indirect taxation Value-added tax (VAT) and other taxes, levies and dutie ...
... International Financial Reporting Standards, as adopted by the International Accounting Standards Board (IASB), and interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) of the IASB. Indirect taxation Value-added tax (VAT) and other taxes, levies and dutie ...
the nature and scope of economics
... e.g. whether a free market 'capitalist' economy is desirable, or whether a centrally planned 'command' economy is preferable. In the study of economics, it is easy for us to be influenced in our views by our ideas of 'what ought to be'. Economists also have views on these subjects, and some economic ...
... e.g. whether a free market 'capitalist' economy is desirable, or whether a centrally planned 'command' economy is preferable. In the study of economics, it is easy for us to be influenced in our views by our ideas of 'what ought to be'. Economists also have views on these subjects, and some economic ...
Measuring the Change in Effectiveness of
... long-term securities to lower long-term interest rates in order to avoid deflation, and simulate the economy. Currently, there have been three rounds of QE in the United States: QE1, QE2, and QE3. Beginning on November 25, 2008, QE1 involved the purchase of $500 billion of agency MBS securities and ...
... long-term securities to lower long-term interest rates in order to avoid deflation, and simulate the economy. Currently, there have been three rounds of QE in the United States: QE1, QE2, and QE3. Beginning on November 25, 2008, QE1 involved the purchase of $500 billion of agency MBS securities and ...
