Zero Interest Rates and the Fall in U S Bank Lending pdf
Zero Interest Rates and the Fall in U.S. Bank Lending pdf
... interest rates close to zero. Although counterparty risk is now in abeyance, forcing short-term interest rates to zero is a serious mistake. Wholesale interbank lending is still inhibited so ... firms—including exporters and importers and households increase. Surprisingly, retail bank credit in the both the U. S. and Europe is still declining. 2. The sharp...
Ngày tải lên: 22/03/2014, 17:20
Dual-track interest rates and the conduct of monetary policy in China potx
... between the banking system and the money and bond market, the interest rates in these markets are also influenced by the regulated interest rates in the banking system. We now turn to the ques- tion ... economy. In contrast to the heavily regulated interest rates in the banking system, the other side of the dual-track system is market-determined wh...
Ngày tải lên: 29/03/2014, 13:20
Tài liệu Macro-Finance Models of Interest Rates and the Economy pdf
... of measures designed to address elevated pressures in term funding markets. These measures included foreign exchange swap lines established between the Federal Reserve and the ECB and the Swiss National ... structure of interest rates, and especially the size and dynamics of risk premiums. Therefore, Rudebusch and Wu (2007) use their macro-finance model to consider wheth...
Ngày tải lên: 17/02/2014, 03:20
Interest Rates and The Credit Crunch: New Formulas and Market Models potx
... constructed by bootstrapping zero- coupon rates from the market quotes of the three-month deposit, the futures (or 3m FRAs) for the main maturities and the liquid swaps (vs 3m). The discount curve, ... the three-month LIBOR rate. These stylized facts suggest that the consistent construction of a yield curve is possible only thanks to credit and liquidity theories justif...
Ngày tải lên: 15/03/2014, 07:20
A Monthly Struggle for Self-Control? Hyperbolic Discounting, Mental Accounting, and the Fall in Consumption Between Paydays ppt
... 3.2. Baseline Results and Robustness Checks Table 2 presents results for our baseline regressions, and a series of robustness checks. These and all subsequent regressions include our full array ... behaviour is consistent with the use of a mental accounting rule limiting borrowing. This suggests that the true value of β for our sample is closer to the estimates assuming soph...
Ngày tải lên: 23/03/2014, 03:20
Tài liệu Why Has The Cost of Navy Ships Risen - A Macroscopic Examination of the Trends in U.S. Naval Ship Costs Over the Past Several Decades doc
... submarines. e rates were calculated as before, but the baseline is now the SNN-688i class and not the SSN-637. e rates for cost escalation due to standards, regula- tions, and requirements are ... frame. 1 e SSN-768 is a 688i (Los Angeles–class) submarine, and the SSN-777 is a 774 (Virginia- class) submarine. • • • Cost Escalation Over the Past 15 Years 83 Figure D.2...
Ngày tải lên: 17/02/2014, 22:20
Tài liệu Why Has the Cost of Fixed-Wing Aircraft Risen - A Macroscopic Examination of the Trends in U.S. Military Aircraft Costs over the Past Several Decades pptx
... preliminary observations with the aircraft industry leaders so that their insights and data could further inform our analysis. Below is a list of seed questions used to jumpstart these meetings. ... Four, data limitations required that we use vary- ing subsets of aircraft systems for different parts of the analysis. ese subsets are “chunks” (not random samples) that were selected on...
Ngày tải lên: 17/02/2014, 23:20
Governance and the Success of U.S. Community Banks, 1790-2010: Mutual Savings Banks, Local Commercial Banks, and the Merchants (National) Bank of New Bedford, Massachusetts doc
... stockholders and their friends, families, and business associates, because it could be used to expropriate resources from outsiders, including minority stockholders, depositors, and noteholders. Insider ... of substantial southern Massachusetts businesses and individuals. 140 The bank started discounting notes in September 1825. By June 1826, it had discounted a thousand o...
Ngày tải lên: 29/03/2014, 08:20