economic uncertainty sovereign risk and financial fragilities

... Financial Crises, Sovereign Risk and the Role of Institutions ThiS is a FM Blank Page Dominik Maltritz • Michael Berlemann Editors Financial Crises, Sovereign Risk and the Role of ... Committees (Industrial Economics, Environmental and Resource Economics, Health Economics) Moreover he is Research Professor at Halle Institute for Economic Research/IWH As of today, Alexander is Director ... for Financial Stability Andreas Buehn and Daniel Kraaijeveld van Hemert 81 The Evolution of International Geo-Political Risk 1956–2001 Ephraim Clark and Radu Tunaru 93 Financial...

Ngày tải lên: 01/11/2014, 12:17

... different angles: pure and speculative risks, financial and nonfinancial risks, and noncatastrophic and catastrophic risks These are not mutually exclusive categorizations and indeed often intersect ... elements of a risk management framework Risk management framework Risk identification Risk quantification Risk management Figure 1.1 The risk management framework Risk monitoring TAXONOMY OF RISK CL ... us to the source of a risky exposure, which is essential if we are to understand how risk impacts activities and how it can ultimately be managed Financial risk Financial risks come in different...

Ngày tải lên: 03/11/2014, 16:01

Ngày tải lên: 11/05/2017, 07:58

... with Financial Crises and Other Shocks 3.6 House Price-to-Rental Ratios for Recessions Associated with Financial Crises and Other Shocks 3.7 Household Saving Rate and Net Lending before and after ... Fund, 0251-6365) — (1986– : World economic and financial surveys, 0256-6877) Semiannual Has occasional updates, 1984– Economic history, 1971–1990 — Periodicals Economic history, 1990– — Periodicals ... CONTENTS Assumptions and Conventions ix Preface xi Joint Foreword to World Economic Outlook and Global Financial Stability Report xii Executive Summary xv Chapter Global Prospects and Policies How...

Ngày tải lên: 12/12/2013, 17:15

... Secretary of the Economic and Social Commission for Western Asia 12 13 THE GLOBAL ECONOMIC AND FINANCIAL CRISIS: REGIONAL IMPACTS, RESPONSES AND SOLUTIONS The Global Economic and Financial Crisis: ... THE GLOBAL ECONOMIC AND FINANCIAL CRISIS: REGIONAL IMPACTS, RESPONSES AND SOLUTIONS The Global Economic and Financial Crisis: Regional Impacts, Responses and Solutions The Economic Commission ... approach THE GLOBAL ECONOMIC AND FINANCIAL CRISIS: REGIONAL IMPACTS, RESPONSES AND SOLUTIONS takes account of the interlinkages between the financial, trade, economic, employment and social roots...

Ngày tải lên: 17/02/2014, 21:20

... Default and Liquidity Risk The Supervisory Approach: A Critique Depreciation Bias, Financial- Sector Fragility and Currency Risk The New Basel Accord and Developing Countries: Problems and Alternatives ... a Realistic Banking System Within a Post-Keynesian Stock-flow Consistent Model Credit -Risk Transfer and Financial Sector Performance Please address enquiries about the series to: The Administrator ... the European Union an Optimal Economic Area for a Single Securities Regulator? Empirical Modeeling of Contagion: A Review of Methodologies October 2003 International Financial Contagion: What Do...

Ngày tải lên: 06/03/2014, 08:20

... held back by weak demand for a number of goods including motor vehicles and parts, industrial machinery, and aircraft Conversely, exports of energy products and metals stand at new all-time highs ... 2014 Source: Bureau of Economics Analysis, RBC Economics Research The persistent increases in housing sales and starts have been surprising In 2012 to date, sales of new and existing single-family ... liabilities and the economy’s GDP As long as the uncertainty about the implementa- -10 -20 -30 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: Bureau of Economics Analysis, RBC Economics...

Ngày tải lên: 06/03/2014, 19:20

... industrial production, and investment in machinery The pent-up demand for housing and vehicles created during the economic downturn will in part be met by Canadian autos and parts and forestry exports ... and industrial and non-residential construction loans in early 2013 Loans for commercial real estate increased by 0.5% in 2012 following three years of decline, and the volume of commercial and ... Receding risks to global outlook … It is not only uncertainty associated with the US fiscal landscape that will limit activity in the first half of 2013 but also concerns about the depth and duration...

Ngày tải lên: 08/03/2014, 06:20

... Zealand aims to advance and protect both its security and prosperity interests Trade is essential to New Zealand's economic prosperity Exports of goods and services make up over 30% of New Zealand's ... New Zealand's political and economic interests The countries of APEC take more than 70% of New Zealand's exports They provide 70% of New Zealand's tourist visitors and 80% of New Zealand's investment ... more of New Zealand businesses or property worth more than $50 million, land over hectares and/ or worth more than $10 million, land on most off-shore islands and "sensitive" land over 0.4 hectares,...

Ngày tải lên: 08/03/2014, 08:20

... adjacent islands, the North Island and South Island, and a number of small outlying islands Because these islands are widely dispersed, New Zealand has a relatively large exclusive maritime economic ... Zealand's total land area is pasture and arable land, and more than a quarter is under forest cover, including 1.5 million hectares of planted production forest It is predominantly mountainous and ... income support for low and middle income families, and a range of benefits and pensions, including New Zealand Superannuation and the unemployment, single parent, sickness and invalid benefits...

Ngày tải lên: 08/03/2014, 08:20

... Credit -risk valuation in the sovereign CDS and bonds markets: Evidence from the euro area crisis 37 References Acharya, V., Schaefer, S and Zhang, Y (2007) Liquidity risk and correlation risk: ... 369-387 Arora, N., Gandhi, P and Longstaff, F (2009) “Counterparty Credit Risk and the Credit Default Swap Market” Journal of Financial Economics, 103, pp 280-293 Bai, J and Collin-Dufresne, ... coefficients and the standard errors between brackets *** (** and *) indicates whether the coefficients are significant at a significance level of 1% (5% and 10%) Credit -risk valuation in the sovereign...

Ngày tải lên: 15/03/2014, 07:20

... incurred financial burden and expected financial risk, and the unit of analysis (family or individual); categorizing and estimating health risks (acute, chronic, catastrophic) for population groups and ... short and the long term on the extent of financial burden and risk for the population S-1 Copyright © National Academy of Sciences All rights reserved Medical Care Economic Risk: Measuring Financial ... care economic risk and burden as health care reform is implemented and other relevant public and private sector changes occur On the basis of the workshop discussions and its own review and deliberations...

Ngày tải lên: 16/03/2014, 10:20

... Accountancy Standards 32 and 39 (Financial instruments: disclosure and presentation) and IAS 39 (Financial instruments: recognition and measurement) from the International Accountancy Standards Board ... practices and standards as a tool for crisis prevention 2.3 Financial market development Good corporate governance and investor protection is necessary also for financialmarket development Financial ... of economic and financial analysis by the recent wave of corporate accounting scandals The effective functioning of capital markets requires that basic information on the financial condition and...

Ngày tải lên: 17/03/2014, 10:20

... Eijfinger, S and Franco, D (2003), “Revisiting the Stability and Growth Pact: grand design or internal adjustment?”, No 180, Economic Papers –series of the Directorate-General for Economic and Financial ... Auerbach and Martin S Feldstein (eds.), Handbook of Public Economics, Vol 4, Amsterdam and N.Y., North Holland Lindbeck, A and Persson M (2003), "The Gains from Pension Reform", Journal of Economic ... Economy Feldstein, M and Liebman J B (2002), "Social Security", in Alan J Auerbach and Martin S Feldstein (eds.), Handbook of Public Economics, Vol 4, Amsterdam and N.Y., North Holland Frederiksen,...

Ngày tải lên: 17/03/2014, 10:20

... Random effect parameter and asset correlation estimates, model and model The inclusion of the macroeconomic risk divers results in a decrease of the estimated parameter of the random effect and ... firm-specific risk drivers only and model includes firm-specific risk drivers and systematic macroeconomic variables Again, all risk drivers are significant ( = 0,05 ) Table displays the risk drivers ... 5: Risk segment specific logit models with random effects, with (model 3) and without systematic macroeconomic risk driver (model 4) In addition to the firm-specific risk drivers of model and...

Ngày tải lên: 22/03/2014, 20:20

... (positively) rather than book-to-price as in the Fama and French correlations With r = risk- free rate + risk premium and g = risk premium, growth and the risk premium cancel in valuation So a valuation ... Penman and Sougiannis (1998), Lundholm and O’Keefe (2001a), Penman (2001) and Lundholm and O’Keefe (2001b) on valuation errors from alternative models See also Francis, Olsson, and Oswald (2000) and ... fore during the financial crisis of 2008 Financial engineering, the modeling of risk that came into disrepute during the crisis, typically understands risk from the history of prices and returns...

Ngày tải lên: 23/03/2014, 00:20

... understand financial markets and the risks encountered in the financial system in an overall economic environment; to market financial services and to manage customer care in banking and to understand ... COST AND FINANCIAL MANAGEMENT 1A CFM11B1 COST AND FINANCIAL MANAGEMENT 1B CFM22A2 COST AND FINANCIAL MANAGEMENT 2A CFM11B1 CFM22B2 COST AND FINANCIAL MANAGEMENT 2B CFM11A1 CFM33A3 COST AND FINANCIAL ... Applications in Economics and Business A – MAEB311* Economics and Business B – MAEB322* The Economic and Business Environment A – The Economic and Business Environment B – EBE3111 EBE3222 Financial...

Ngày tải lên: 23/03/2014, 19:20

... (Bordo and Rockoff, 1996; Ferguson and Schularik, 2004, 2005; Flandreau and Zumer, 2004; and Obstfeld and Taylor, 2003b) 01-Mauro-Chap01.qxd 09/15/2005 08:07 AM Page Emerging Markets and Financial ... Chinese and Japanese sovereign spreads in the nineteenth century Sussman and Yafeh (1999b) discuss the co-movement of Japanese and other sovereign bonds before and after Japan adopted the gold standard ... (Ferguson and Schularik, 2004), the gold standard as a commitment mechanism to a stable macroeconomic environment (Bordo and Rockoff, 1996; Obstfeld and Taylor, 2003b), or institutions and the...

Ngày tải lên: 11/06/2014, 01:00

... understand (1) that investment risk is the uncertainty about returns on an asset, (2) the concept of portfolio risk, and (3) the effects of risk on required rates of return What we cover, and the ... OF STOCKS AND BONDS, THE RISK THAT IS RELEVANT TO THEM IS THE SECURITY’S MARKET RISK, NOT ITS STAND- Integrated Case: - 31 ALONE RISK THUS, INVESTORS VIEW THE FIRM’S RISK FROM A MARKET RISK PERSPECTIVE ... Merrill Finch Inc Risk and Return 5-23 ASSUME THAT YOU RECENTLY GRADUATED WITH A MAJOR IN FINANCE, AND YOU JUST LANDED A JOB AS A FINANCIAL PLANNER WITH MERRILL FINCH INC., A LARGE FINANCIAL SERVICES...

Ngày tải lên: 01/07/2014, 21:28

... Bernanke, Gertler, and Gilchrist (1999) and is the focus of the models of Kiyotaki and Moore (1997), Suarez and Sussman (1997), Cordoba and Ripoll (2004), and Matsuyama (2007) FINANCIAL MARKET ... -0.06 -0.08 -0.10 Downside risk to global growth Financial Domestic Domestic Domestic Inflation conditions demand in demand in demand in risks the U.S emerging Europe and Japan economies -0.12 ... affect supply and demand However, using a simple diagram of the demand and supply of bank lending indicates whether a decline in bank lending is underpinned by demand or supply fac4Green and Oh (1991)...

Ngày tải lên: 23/07/2014, 16:14