New Zealand’s economic reforms after 1984 L. Christopher Plantier
... various risk factors can affect the actual real rates that country faces.6 In particular, large and permanent net government debt positions can create a permanent wedge between the world real rate and a particular country’s real rate. Even in this analysis, however, there is still quite a bit of jud ...
... various risk factors can affect the actual real rates that country faces.6 In particular, large and permanent net government debt positions can create a permanent wedge between the world real rate and a particular country’s real rate. Even in this analysis, however, there is still quite a bit of jud ...
CEPR POLICY INSIGHT No . 51 - Centre for Economic Policy
... toolkit of financial repression (including capital controls and mandatory holding of public debt by banks and other financial institutions not motivated by macroprudential considerations) though it is of course affected by policy actions and the reality and expectation of external financial support. ...
... toolkit of financial repression (including capital controls and mandatory holding of public debt by banks and other financial institutions not motivated by macroprudential considerations) though it is of course affected by policy actions and the reality and expectation of external financial support. ...
OPTIMAL TAXATION WITH ENDOGENOUS DEFAULT UNDER INCOMPLETE MARKETS
... becomes an option, rather than a non state-contingent bond. This option, however, does not come for free: infinitely lived households accurately predict the possibility of default, and the equilibrium incorporates it in the pricing of the bond. This mechanism hinders the ability of the government to ...
... becomes an option, rather than a non state-contingent bond. This option, however, does not come for free: infinitely lived households accurately predict the possibility of default, and the equilibrium incorporates it in the pricing of the bond. This mechanism hinders the ability of the government to ...
Defaultable Debt, Interest Rates and the Current Account
... standard model begins with the fact that autarky is not a severe punishment, even adjusting for the relatively large income volatility observed in emerging markets. The welfare gain of smoothing transitory shocks to consumption around a stable trend is small. This in turn prevents lenders from exten ...
... standard model begins with the fact that autarky is not a severe punishment, even adjusting for the relatively large income volatility observed in emerging markets. The welfare gain of smoothing transitory shocks to consumption around a stable trend is small. This in turn prevents lenders from exten ...
Buyers Guide to RMB Bonds
... FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment. I ...
... FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment. I ...
PFG Global Scale Migration
... INFORMATION IS GIVEN OR MADE BY MOODY’S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and eval ...
... INFORMATION IS GIVEN OR MADE BY MOODY’S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and eval ...
Hedging and Speculating with Interest Rate Swaps
... cash flows have the opposite interest rate sensitivity. Such risk management practices make it more likely that internally generated cash flows will cover both the firm’s interest expenses and its investment needs. This evidence is consistent with the model of Froot et al. (1993), who show that firm ...
... cash flows have the opposite interest rate sensitivity. Such risk management practices make it more likely that internally generated cash flows will cover both the firm’s interest expenses and its investment needs. This evidence is consistent with the model of Froot et al. (1993), who show that firm ...
UNITED PARCEL SERVICE
... they are subject to the political, geographic, and economic risks attendant to doing business with suppliers located in, and supplies originating from, those areas. If they are unable to obtain adequate crude oil volumes or are able to obtain such volumes only at unfavorable prices, their results of ...
... they are subject to the political, geographic, and economic risks attendant to doing business with suppliers located in, and supplies originating from, those areas. If they are unable to obtain adequate crude oil volumes or are able to obtain such volumes only at unfavorable prices, their results of ...
Investment in Innovation and Fixed Assets: the effect of US tax
... Throughout the paper assumes a hierarchy of finance model of firm investment.4 Under strong assumptions the cost of capital should be independent of the type of capital used: the financial structure of the firm should be irrelevant to the value of the firm.5 These assumptions are: one, there is per ...
... Throughout the paper assumes a hierarchy of finance model of firm investment.4 Under strong assumptions the cost of capital should be independent of the type of capital used: the financial structure of the firm should be irrelevant to the value of the firm.5 These assumptions are: one, there is per ...
Accounting for Receivables
... Occasionally, a company collects from a customer after the account has been written off as uncollectible. The entry made in writing off the account is reversed to reinstate the customer’s account. The collection is journalized in the usual manner. Two bases are used to determine the amount of the ex ...
... Occasionally, a company collects from a customer after the account has been written off as uncollectible. The entry made in writing off the account is reversed to reinstate the customer’s account. The collection is journalized in the usual manner. Two bases are used to determine the amount of the ex ...
“Don’t just do something, stand there”… (and think)
... There may yet be some benefits from enhancing the scope for more monetary and fiscal activism to deal with the aftermath of the next crisis. Such further benefits as may exist are all to do with giving yourself room to deal with the mess after it has happened. But I believe that reducing the chance ...
... There may yet be some benefits from enhancing the scope for more monetary and fiscal activism to deal with the aftermath of the next crisis. Such further benefits as may exist are all to do with giving yourself room to deal with the mess after it has happened. But I believe that reducing the chance ...
Fundamentals of Corporate Finance, 2/e
... • Total market value of the debt and the equity of a firm equals the present value of the cash flows that the debt holders and the stockholders have the right to receive. • People who have lent money to a firm and the people who have purchased the firm’s stock have the right to receive all of the ca ...
... • Total market value of the debt and the equity of a firm equals the present value of the cash flows that the debt holders and the stockholders have the right to receive. • People who have lent money to a firm and the people who have purchased the firm’s stock have the right to receive all of the ca ...
Monetary_policy-Nega.. - National Defence College
... A negative nominal rate implies that depositors will pay a fee to put their money in banks in whatever form they choose instead of receiving interest on them. Alternatively, a negative interest on loans would imply banks will pay borrowers some fees to take loans from banks. Obviously, profit-seekin ...
... A negative nominal rate implies that depositors will pay a fee to put their money in banks in whatever form they choose instead of receiving interest on them. Alternatively, a negative interest on loans would imply banks will pay borrowers some fees to take loans from banks. Obviously, profit-seekin ...
The Chicago Plan Revisited Jaromir Benes and Michael Kumhof WP/12/202
... advantages of the Chicago Plan. This will set the stage for a first illustration of the implied balance sheet changes, which will be provided in Figures 1 and 2. The first advantage of the Chicago Plan is that it permits much better control of what Fisher and many of his contemporaries perceived to ...
... advantages of the Chicago Plan. This will set the stage for a first illustration of the implied balance sheet changes, which will be provided in Figures 1 and 2. The first advantage of the Chicago Plan is that it permits much better control of what Fisher and many of his contemporaries perceived to ...
Growth and Productivity: the role of Government Debt
... high fiscal cost of the measures taken to contain the fallout from the credit crisis. These developments have been followed by a sovereign debt crisis, which started from Greece in autumn 2009 and gradually engulfed the whole of the European Economic and Monetary Union (EMU), particularly the so-cal ...
... high fiscal cost of the measures taken to contain the fallout from the credit crisis. These developments have been followed by a sovereign debt crisis, which started from Greece in autumn 2009 and gradually engulfed the whole of the European Economic and Monetary Union (EMU), particularly the so-cal ...
The Aggregate Demand Schedule
... concerning the effect of deflation - and the consequences for the possibility of a liquidity trap. If the Pigou effect operates, a reduction in the price level can cause a direct increase in AD. Direct effect: It occurs even without a reduction in the interest rate. ...
... concerning the effect of deflation - and the consequences for the possibility of a liquidity trap. If the Pigou effect operates, a reduction in the price level can cause a direct increase in AD. Direct effect: It occurs even without a reduction in the interest rate. ...
Alternative ways of state property utilisation: some new proposals
... all assets in the portfolio (one evaluator is appointed by the Greek government, the other from the Company) – final appraised value of each asset will be the average. Note that we should expect much higher appraised values for all assets since the actual implementation of this proposal will create ...
... all assets in the portfolio (one evaluator is appointed by the Greek government, the other from the Company) – final appraised value of each asset will be the average. Note that we should expect much higher appraised values for all assets since the actual implementation of this proposal will create ...