Inflation Risk Management in Project Finance
... maturities) deno minated in the same currency, so making the whole structure inelastic to external shocks. ...
... maturities) deno minated in the same currency, so making the whole structure inelastic to external shocks. ...
Convergence Programme of the Czech Republic
... The main economic objectives of the Czech Government are to promote growth and employment by stimulating productivity and competitiveness and to get public finances under sustainable development. The aim is to accelerate the process of catching-up with the “old” EU Member States, without neglecting ...
... The main economic objectives of the Czech Government are to promote growth and employment by stimulating productivity and competitiveness and to get public finances under sustainable development. The aim is to accelerate the process of catching-up with the “old” EU Member States, without neglecting ...
Consumer Credit Business and the Financing Dilemma of SMBs
... 3.1 We should improve external circumstances to sustain the development of consumer credit. Firstly, we should change people’s concept of consumption by advertisement, create macro circumstances for consumer credit and increase employment and enhance the stability of employment by macro policy, crea ...
... 3.1 We should improve external circumstances to sustain the development of consumer credit. Firstly, we should change people’s concept of consumption by advertisement, create macro circumstances for consumer credit and increase employment and enhance the stability of employment by macro policy, crea ...
Fiscal Austerity during Debt Crises
... Default allows the government to avoid paying the debt and have more resources for domestic consumption. In fact, defaulting on debt b is optimal only if under no default, the economy must experience capital outflows, −b + q(z, b0 )b0 < 0. In this model, however, default relaxes two constraints: the ...
... Default allows the government to avoid paying the debt and have more resources for domestic consumption. In fact, defaulting on debt b is optimal only if under no default, the economy must experience capital outflows, −b + q(z, b0 )b0 < 0. In this model, however, default relaxes two constraints: the ...
Testing the Trade Off and Pecking Order Models of Capital Structure
... From that onwards, capital structure issue has been a rising concern among corporations as well as for many academicians. It is an obvious question for many academicians such as Myers, Majluf, Fama, Rajan, French, Zingales and so on, what could be the rational strategy to increase the value of the f ...
... From that onwards, capital structure issue has been a rising concern among corporations as well as for many academicians. It is an obvious question for many academicians such as Myers, Majluf, Fama, Rajan, French, Zingales and so on, what could be the rational strategy to increase the value of the f ...
International Financial Integration in the Aftermath of the
... In Lane and Milesi-Ferretti (2007), we profiled the evolution of financial globalization over 1970-2004 for a set of about 145 countries. We highlighted the rapid growth in cross-border financial positions since the mid-1990s and also the asymmetric nature of financial globalization during the so-ca ...
... In Lane and Milesi-Ferretti (2007), we profiled the evolution of financial globalization over 1970-2004 for a set of about 145 countries. We highlighted the rapid growth in cross-border financial positions since the mid-1990s and also the asymmetric nature of financial globalization during the so-ca ...
Cash Budgets
... MODEL problem C-1 (linked on the web page) in a spreadsheet, using input cells for the major assumptions and good visual ...
... MODEL problem C-1 (linked on the web page) in a spreadsheet, using input cells for the major assumptions and good visual ...
Patrick Bayer, Duke University and NBER
... default rates in 2005 for our sample of seven major markets, large racial differences had emerged by 2009. More than 1 in 10 black and Hispanic homeowners in our sample had a delinquent mortgage by 2009, compared to 1 in 25 for white households, and a similar pattern held for foreclosure rates. The ...
... default rates in 2005 for our sample of seven major markets, large racial differences had emerged by 2009. More than 1 in 10 black and Hispanic homeowners in our sample had a delinquent mortgage by 2009, compared to 1 in 25 for white households, and a similar pattern held for foreclosure rates. The ...
Memo 6 ”Risks to the macroeconomy and financial stability arising
... these factors, and the difference between permanent and temporary effects, will also affect the discount factor and, thereby, the price/rent ratio.16 In several contexts, the relationship of the price/rent ratio to a long-term average level has been used as a yardstick to establish whether the housi ...
... these factors, and the difference between permanent and temporary effects, will also affect the discount factor and, thereby, the price/rent ratio.16 In several contexts, the relationship of the price/rent ratio to a long-term average level has been used as a yardstick to establish whether the housi ...
Latin America Macroeconomic Outlook A Global Perspective
... account for 93 percent of the region’s GDP. Henceforth, the terms LAC-7, “the region” and Latin America will be used interchangeably. 3 The average growth rate for LAC-7 is calculated using the simple average instead of a weighted average to avoid over-representing larger economies. The goal is to a ...
... account for 93 percent of the region’s GDP. Henceforth, the terms LAC-7, “the region” and Latin America will be used interchangeably. 3 The average growth rate for LAC-7 is calculated using the simple average instead of a weighted average to avoid over-representing larger economies. The goal is to a ...
Inflation, default and sovereign debt
... data, ownership is the more important determinant of equilibrium debt and in ation than denomination. For default rates, denomination is equally important. Ownership has a large, and positive, eect on in ation, default rates and debt to GDP ratios, while conditional on ownership, the eects of deno ...
... data, ownership is the more important determinant of equilibrium debt and in ation than denomination. For default rates, denomination is equally important. Ownership has a large, and positive, eect on in ation, default rates and debt to GDP ratios, while conditional on ownership, the eects of deno ...
Balance Sheets after the EMU - OFCE
... foreign debt results in such a negative growth outcome in the case of devaluation. Similarly, Bebczuk et al. (2006), using a panel of 57 advanced and developing countries, conclude that devaluations are contractionary if more than 84% of foreign debt is denominated in a foreign currency; moreover, i ...
... foreign debt results in such a negative growth outcome in the case of devaluation. Similarly, Bebczuk et al. (2006), using a panel of 57 advanced and developing countries, conclude that devaluations are contractionary if more than 84% of foreign debt is denominated in a foreign currency; moreover, i ...
part 3: decision-makers in the financial system
... c) international transactions in a given year, and is also called balance payment. d) borrowing and lending through the financial system. 4. In the balance sheet for the federal government a) both financial and non-financial assets, liabilities, and net worth are recorded. b) only non-financial ass ...
... c) international transactions in a given year, and is also called balance payment. d) borrowing and lending through the financial system. 4. In the balance sheet for the federal government a) both financial and non-financial assets, liabilities, and net worth are recorded. b) only non-financial ass ...
FINANCIAL RATIOS – REVEAL HOW A BUSINESS IS DOING?
... Current assets turnover show how well the company is using its current assets to generate sales, and it is calculate by dividing turnover to current assets (12). Also, regarding the current assets there can be split, and we can calculate similar ratio such as inventory turnover, or receivable turnov ...
... Current assets turnover show how well the company is using its current assets to generate sales, and it is calculate by dividing turnover to current assets (12). Also, regarding the current assets there can be split, and we can calculate similar ratio such as inventory turnover, or receivable turnov ...
Credit Crisis and the Role of Banks During Transition: a Five
... This paper compares the evolution of enterprise credit during transition, in five relatively advanced countries, where macroeconomic framework has been rapidly stabilised, namely: the Czech Republic, Estonia, Hungary, Poland, and Slovenia. Aggregate monetary and financial time-series published by th ...
... This paper compares the evolution of enterprise credit during transition, in five relatively advanced countries, where macroeconomic framework has been rapidly stabilised, namely: the Czech Republic, Estonia, Hungary, Poland, and Slovenia. Aggregate monetary and financial time-series published by th ...
Small Business Management 12e - Longenecker, Moore
... Present Day Situation Myth: There is less available capital Fact: The industry has plenty of money, but limited appetite for new investment Fact: Investor attitudes toward risk have changed ...
... Present Day Situation Myth: There is less available capital Fact: The industry has plenty of money, but limited appetite for new investment Fact: Investor attitudes toward risk have changed ...
Monetary and Fiscal Policy with Sovereign Default
... circulated under the titles "Public Debt, Inflation, and Sovereign Default" and "Discretionary Monetary and Fiscal Policy with Endogenous Sovereign Default". † University of Cologne, Center for Macroeconomic Research, Albertus-Magnus-Platz, 50923 Cologne, Germany; Email: roettger@wiso.uni-koeln.de. ...
... circulated under the titles "Public Debt, Inflation, and Sovereign Default" and "Discretionary Monetary and Fiscal Policy with Endogenous Sovereign Default". † University of Cologne, Center for Macroeconomic Research, Albertus-Magnus-Platz, 50923 Cologne, Germany; Email: roettger@wiso.uni-koeln.de. ...
Basics of Financial Planning
... debt, subsequently); between liquid and non-liquid; between one investment goal and another. In general, the fluctuations in price or value of different investments are not congruent; they do not go up or down all at the same time or in the same magnitude. Thus, an investor can protect at least a po ...
... debt, subsequently); between liquid and non-liquid; between one investment goal and another. In general, the fluctuations in price or value of different investments are not congruent; they do not go up or down all at the same time or in the same magnitude. Thus, an investor can protect at least a po ...
EN EN Results of in-depth reviews under Regulation (EU) No 1176
... Although house price are not growing extensively since 2010, inefficiencies in the Swedish housing market continue to imply potential risks for macroeconomic stability, in particular in case of potential house price corrections. These inefficiencies, linked to the structural under-supply of dwelli ...
... Although house price are not growing extensively since 2010, inefficiencies in the Swedish housing market continue to imply potential risks for macroeconomic stability, in particular in case of potential house price corrections. These inefficiencies, linked to the structural under-supply of dwelli ...
New Zealand’s economic reforms after 1984 L. Christopher Plantier
... keep the country set as wide as possible. However, because of data limitations on net public debt ratios, but also in order to facilitate comparison to a recent paper by Conway and Orr (2002), we limit ourselves to the six countries they studied most intensively. Our results appear robust in their s ...
... keep the country set as wide as possible. However, because of data limitations on net public debt ratios, but also in order to facilitate comparison to a recent paper by Conway and Orr (2002), we limit ourselves to the six countries they studied most intensively. Our results appear robust in their s ...
Credit Supply and the Housing Boom
... our model. Both measures of indebtedness were stable in the 1990s, but increased by about 30 and 60 percentage points between 2000 and 2007, before falling during the financial crisis. Fact 3: Mortgage debt and house prices increased in parallel. As a result, the ratio of home mortgages to the value ...
... our model. Both measures of indebtedness were stable in the 1990s, but increased by about 30 and 60 percentage points between 2000 and 2007, before falling during the financial crisis. Fact 3: Mortgage debt and house prices increased in parallel. As a result, the ratio of home mortgages to the value ...
public credit guarantees and sme finance
... SME financial constraints in the economic literature and in Italy • Some empirical evidence shows financial constraints are inversely related to firm size (Bagella-Becchetti-Caggese 2001) • Start-up firms, young enterprises, smaller ones, innovative ones, with fewer tangible assets and an uncertain ...
... SME financial constraints in the economic literature and in Italy • Some empirical evidence shows financial constraints are inversely related to firm size (Bagella-Becchetti-Caggese 2001) • Start-up firms, young enterprises, smaller ones, innovative ones, with fewer tangible assets and an uncertain ...
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.