The Relativity Theory Revisited: Is Publishing Interest Rate Forecasts Really so Valuable? pptx
The Relativity Theory Revisited: Is Publishing Interest Rate Forecasts Really so Valuable? pptx
... Transparency,QWHUQDWLRQDO-RXUQDORI&HQWUDO %DQNLQJ GH:DOTXH*DQG:RXWHUV5 $Q2SHQ(FRQRP\'6*(0RGHO/LQNLQJWKH(XUR $UHDDQGWKH86(FRQRP\ PLPHR1DWLRQDO%DQNRI%HOJLXP Warsaw, November 2008 The Relativity Theory Revisited: Is Publishing Interest Rate Forecasts Really so Valuable? 0LFKDï%U]R]D%U]H]LQD Adam Kot NATIONAL...
Ngày tải lên: 06/03/2014, 02:21
Risks Ahead for the Financial Industry in a Changing Interest Rate Environment pdf
... bank’s interest rate risk management and interest rate risk exposure, and in developing a (supervisory) response to that risk. At the core of these principles is the involvement of the board ... additional risks further down the line. The key elements of interest rate risk for banks include repricing risk, yield curve risk, basis risk and optionality. 4 Repricing...
Ngày tải lên: 15/03/2014, 01:20
THE USE OF DERIVATIVES TO MANAGE INTEREST RATE RISK IN COMMERCIAL BANKS docx
... on the put options position held by the bank. The financial institution hedged the interest rate risk exposure perfectly because the basis risk is assumed to be zero. That is, the change in interest ... in- terest rate derivative when the interest rates rise. If the hedge is perfect, then the losses in the cash market will be offset exactly by the positi...
Ngày tải lên: 15/03/2014, 01:20
The information content of central bank interest rate projections: Evidence from New Zealand pot
... of results is provided in Table 5 in the appendix. 11 financial crisis. During the crisis period, the impact of interest rate projections on futures rates is economically small and statistically ... quarters ahead is destabilizing even before the outbreak of the crisis. For the crisis period, Table 3 confirms the vanishing role of interest rate projections for market...
Ngày tải lên: 22/03/2014, 23:20
Interest Rate Forecasts: A Pathology∗ docx
... only the (errors in the) inflation forecasts in New Zealand and the United Kingdom but also the rela- tionships between the errors in the inflation forecasts and those in the interest rate forecasts, ... — Note: The corresp onding p-value is evaluated against the null hypothesis, H 0 : C 1 =0,C 2 =0. The hypothesis is that the up-period indicator (C 1 ) is p...
Ngày tải lên: 06/03/2014, 14:20
Tài liệu Is the long-term interest rate a policy victim, a policy variable or a policy lodestar? docx
... bills, it is the government that faces comparable refunding risks. A key issue, then, is whether the banks or the government is best placed to bear such risks. The second choice is between ... the long-term rate of interest as the private sector increases savings to meet future tax liabilities. Another dimension is the nature of the policy response. One chara...
Ngày tải lên: 17/02/2014, 03:20
What is the neutral real interest rate, and how can we use it? doc
... No. 3 the nominal interest rate implied by the Taylor rule, and the behaviour of the nominal interest rate over history. If we plug in values for the nominal interest rate, inflation, the inflation ... real interest rates. Figure 4 illustrates the sensitivity of our estimates of the real interest rate to the measure of inflation that is used to convert nom...
Ngày tải lên: 15/03/2014, 01:20
To Cut or Not to Cut? That is the (Central Bank’s) Question In Search of the Neutral Interest Rate in Latin America pdf
... by the Interest Rate Gap To evaluate the appropriateness of the current monetary stance, we calculate the interest rate gap—defined as the difference between the actual policy rate and the ... rate, the neutral nominal interest rate, stands for the rate of inflation, is the inflation target of the central bank, is the out...
Ngày tải lên: 15/03/2014, 14:20
Which interest rate scenario is the worst one for a bank? Evidence from a tracking bank approach for German savings and cooperative banks potx
... S(3) S(12) S(60) R ˆ R Which interest rate scenario is the worst one for a bank? Evidence from a tracking bank approach for German savings and cooperative banks Christoph Memmel Discussion Paper Series ... Relations Division, at the above address or via fax +49 69 9566-3077 Internet http://www.bundesbank.de Reproduction permitted only if source is stated. ISBN 978-3–86558–404–5...
Ngày tải lên: 22/03/2014, 23:20
Metaphor, based on the association of similarity, is one of the two basic types of semantic transference that have been an interest for many linguistic researchers
... which something is removed from a certain place to another, is used to refer to the meaning “ dismissing as a lover”. In the second example, the action “ crying” is transferred to another An ... different theorists to privilege one aspect over another, and this privileging is evident in most emotion theory in one way or another. Although there has been some debate over wh...
Ngày tải lên: 07/11/2012, 14:44