Government, Household and Corporate Debt
... et al., 2014), while fewer have included private sector debt 3 (see e.g. Cecchetti et al., 2011). In research made, private debt is found to have a drag on growth above threshold levels of 80-100 percent of GDP (Arcand et al., 2015), similar to threshold levels found for public debt. Incorporating p ...
... et al., 2014), while fewer have included private sector debt 3 (see e.g. Cecchetti et al., 2011). In research made, private debt is found to have a drag on growth above threshold levels of 80-100 percent of GDP (Arcand et al., 2015), similar to threshold levels found for public debt. Incorporating p ...
NBER WORKING PAPER SERIES INVESTMENT CYCLES AND SOVEREIGN DEBT OVERHANG Mark Aguiar
... This paper builds on the influential paper of Thomas and Worrall (1994), who introduce a model of foreign direct investment in an environment of limited commitment. Alburquerque and Hopenhayn (2004) develop a related model. Our analysis differs from these papers in several important respects. The fi ...
... This paper builds on the influential paper of Thomas and Worrall (1994), who introduce a model of foreign direct investment in an environment of limited commitment. Alburquerque and Hopenhayn (2004) develop a related model. Our analysis differs from these papers in several important respects. The fi ...
Germany
... because of structurally low net interest margins and pressure from protracted low interest rates, but it was supported last year by a favorable domestic and regional macro-financial environment (Figures 6 and 7). Improvements in capital adequacy continued and, pending the results of the ECB Comprehe ...
... because of structurally low net interest margins and pressure from protracted low interest rates, but it was supported last year by a favorable domestic and regional macro-financial environment (Figures 6 and 7). Improvements in capital adequacy continued and, pending the results of the ECB Comprehe ...
SUNTRUST BANKS INC (Form: 10-Q, Received: 08
... are included in average balances and income on such as loans, if recognized, is recorded on a cash basis.Interest income includes the effects of taxable-equivalent adjustments
(reduced by the nondeductible portion of interest expense) using a
federal income tax rate of 35% and, where applicable ...
... are included in average balances and income on such as loans, if recognized, is recorded on a cash basis.
Macroeconomic Determinants of Sovereign Bond Yield Spreads in
... estimation for every quantile, not only for 0.25, 0.5 and 0.75, in order to obtain the whole picture of the estimation. OLS estimation results are consistent with those found in the previous literature (de Grauwe and Ji, 2012) (Barbosa and Costa, 2010), and with economic theory. There is a significa ...
... estimation for every quantile, not only for 0.25, 0.5 and 0.75, in order to obtain the whole picture of the estimation. OLS estimation results are consistent with those found in the previous literature (de Grauwe and Ji, 2012) (Barbosa and Costa, 2010), and with economic theory. There is a significa ...
A Small Open Economy Model with Sovereign
... The model’s equilibrium results are consistent with the fact that countries are more likely to default in bad times or when facing higher levels of outstanding debt. They also suggest that the maximum level of indebtedness relative to output, i.e. the maximum risky debt to output ratio, that an econ ...
... The model’s equilibrium results are consistent with the fact that countries are more likely to default in bad times or when facing higher levels of outstanding debt. They also suggest that the maximum level of indebtedness relative to output, i.e. the maximum risky debt to output ratio, that an econ ...
A Policy Model to Analyze Macroprudential Regulations and Monetary Policy 2014-6
... focuses on the balance-sheet position of the lenders (e.g., banks), and how this can impact their funding conditions and loan supply. In particular, better-capitalized banks are able to attract funds at cheaper rates, which allows them to lend to households and businesses at reduced rates. This cha ...
... focuses on the balance-sheet position of the lenders (e.g., banks), and how this can impact their funding conditions and loan supply. In particular, better-capitalized banks are able to attract funds at cheaper rates, which allows them to lend to households and businesses at reduced rates. This cha ...
Austria
... Executive Directors commended Austria for preserving macroeconomic and financial stability after the global financial crisis. While the outlook is positive, resolving post-crisis legacies and ensuring the successful integration of refugees requires further reforms. Directors encouraged the authoriti ...
... Executive Directors commended Austria for preserving macroeconomic and financial stability after the global financial crisis. While the outlook is positive, resolving post-crisis legacies and ensuring the successful integration of refugees requires further reforms. Directors encouraged the authoriti ...
Q1
... grown by 5.1 per cent last year. Reflecting a favourable outlook for consumer and investment spending this year, GDP growth of 3.7 per cent is forecast for 2015, an upward revision of 0.3 per cent relative to the previous projection, while the forecast for GNP growth of 3.3 per cent is 0.2 per cent ...
... grown by 5.1 per cent last year. Reflecting a favourable outlook for consumer and investment spending this year, GDP growth of 3.7 per cent is forecast for 2015, an upward revision of 0.3 per cent relative to the previous projection, while the forecast for GNP growth of 3.3 per cent is 0.2 per cent ...
UnitedHealth Group Third Quarter 2015 Form 10-Q
... Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to su ...
... Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to su ...
International Debt Deleveraging Luca Fornaro This draft: November 2013 First draft: November 2012
... private debt deleveraging (figure 1), accompanied by a deep economic downturn, the Great Recession. Once again, the status quo in the international monetary system is challenged, and this time the survival of the Eurozone is called into question. These events might suggest that fixed exchange arrang ...
... private debt deleveraging (figure 1), accompanied by a deep economic downturn, the Great Recession. Once again, the status quo in the international monetary system is challenged, and this time the survival of the Eurozone is called into question. These events might suggest that fixed exchange arrang ...
does the budget deficit crowd-out private credit from the banking
... fundamental problems render public spending inefficient with little long-term relevance and vision. First, a costly, yet inefficient, subsidy scheme, covering mainly fuel and food products, eats up nearly 25% of public expenditures. The subsidy bill reached EGP150 billion in FY2011/2012, representin ...
... fundamental problems render public spending inefficient with little long-term relevance and vision. First, a costly, yet inefficient, subsidy scheme, covering mainly fuel and food products, eats up nearly 25% of public expenditures. The subsidy bill reached EGP150 billion in FY2011/2012, representin ...
What is a Sustainable Public Debt?∗
... balances that are necessary to match the observed increases in debt. This is particularly true for taxes on capital in the United States and labor taxes in Europe. The dynamic Laffer curves for these taxes peak below the level required to make the higher post-2008 debts sustainable. We also find tha ...
... balances that are necessary to match the observed increases in debt. This is particularly true for taxes on capital in the United States and labor taxes in Europe. The dynamic Laffer curves for these taxes peak below the level required to make the higher post-2008 debts sustainable. We also find tha ...
Working Paper 135/13 THE PSYCHOLOGY AND ECONOMICS OF
... understanding among the public as to their function and the wish to pass property along to heirs without encumbrances or debts. For Italy, Fornero et al (2011) find that the lack of interest for the product may be due to the fact that reverse mortgages are not perceived as a financial planning instr ...
... understanding among the public as to their function and the wish to pass property along to heirs without encumbrances or debts. For Italy, Fornero et al (2011) find that the lack of interest for the product may be due to the fact that reverse mortgages are not perceived as a financial planning instr ...
Accounting Principles, 5e
... Ratio analysis expresses the relationship among selected items of financial statement data. A ratio expresses the mathematical relationship between one quantity and another. A single ratio by itself is not very meaningful, in the upcoming illustrations we will use: 1) Intracompany comparisons for tw ...
... Ratio analysis expresses the relationship among selected items of financial statement data. A ratio expresses the mathematical relationship between one quantity and another. A single ratio by itself is not very meaningful, in the upcoming illustrations we will use: 1) Intracompany comparisons for tw ...
Housing affordability and the economy: a review of macroeconomic
... the level of debt taken on by borrowers and the skill with which monetary and fiscal policy makers anticipate and manage the process. Australia appears to have been fortunate in this respect. Over the past two years, as housing markets have eased and equity markets recovered, consumption growth has ...
... the level of debt taken on by borrowers and the skill with which monetary and fiscal policy makers anticipate and manage the process. Australia appears to have been fortunate in this respect. Over the past two years, as housing markets have eased and equity markets recovered, consumption growth has ...
AIF_Products Expanded Debt Capacity June 2010 Size
... ◦ Stable and resilient cash flows from business ◦ Control over cash flows through sale of assets or adequate legal structure ◦ Target investment grade rating to maximize access to investors and lower cost of capital Different leverage measurements Issues ◦ Favorable bankruptcy laws ◦ Inter-creditor ...
... ◦ Stable and resilient cash flows from business ◦ Control over cash flows through sale of assets or adequate legal structure ◦ Target investment grade rating to maximize access to investors and lower cost of capital Different leverage measurements Issues ◦ Favorable bankruptcy laws ◦ Inter-creditor ...
EUROPEAN COMMISSION Brussels, 22.2.2017 SWD(2017) 78 final
... started to decline and remains very high. The debt of non-financial corporations and households remains among the highest in the EU at around 280% of GDP (excluding specialpurpose entities). The balance sheet adjustment of households and non-financial corporations accelerated in 2016, mainly as a re ...
... started to decline and remains very high. The debt of non-financial corporations and households remains among the highest in the EU at around 280% of GDP (excluding specialpurpose entities). The balance sheet adjustment of households and non-financial corporations accelerated in 2016, mainly as a re ...
Alberta Capital Finance Authority
... Loan growth in 2016 was up slightly by $118 million from 2015 with new loans issued of $1,577 million. Of the new loans issued, financing was most significantly focused on projects related to airport infrastructure, parks and recreation projects, sewer and water infrastructure and roads and sidewalk ...
... Loan growth in 2016 was up slightly by $118 million from 2015 with new loans issued of $1,577 million. Of the new loans issued, financing was most significantly focused on projects related to airport infrastructure, parks and recreation projects, sewer and water infrastructure and roads and sidewalk ...
The Existence of Corporate Bond Clawbacks
... Corporate bond clawbacks (IPOCs)1, sometimes called an equity clawback, grew out of the high yield debt market of the 1980s. The development of institutional investors with an appetite for high yield debt spurred by Drexel, Burham and Lambert, created the original issue high yield debt market and in ...
... Corporate bond clawbacks (IPOCs)1, sometimes called an equity clawback, grew out of the high yield debt market of the 1980s. The development of institutional investors with an appetite for high yield debt spurred by Drexel, Burham and Lambert, created the original issue high yield debt market and in ...
Leverage, Default, and Forgiveness: Lessons from the American
... rate or leverage. Lenders also worry about the credit worthiness of the borrowers, which in the case of households is often represented by their FICO credit score.2 The credit conditions of the economy cannot be summarized accurately by a single riskless interest rate, but rather by an entire surfac ...
... rate or leverage. Lenders also worry about the credit worthiness of the borrowers, which in the case of households is often represented by their FICO credit score.2 The credit conditions of the economy cannot be summarized accurately by a single riskless interest rate, but rather by an entire surfac ...
Lao People`s Democratic Republic: 2014 Article IV Consultation
... to losses in the business sector, with knock-on effects on banks. The system’s nonperforming loan ratio (NPL) is estimated to have doubled during the first half of 2014, cutting into bank profitability and capital cushion. In the same period, state-owned banks’ average NPL is reported to have increa ...
... to losses in the business sector, with knock-on effects on banks. The system’s nonperforming loan ratio (NPL) is estimated to have doubled during the first half of 2014, cutting into bank profitability and capital cushion. In the same period, state-owned banks’ average NPL is reported to have increa ...
Household debt
Household debt is defined as the amount of money that all adults in the household owe financial institutions. It includes consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent European economic crises of 2007–2012. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Eurozone countries.