markets bank leverage cycles and macroeconomic dynamics

... stock) and banks as in traditional financial accelerator models with a moral hazard problem between banks and depositors Therefore the leverage of both the borrowing entrepreneur and the bank lending ... in bank lending and hence bank leverage, which, in the presence of a leverage constraint in the banking sector, requires a further increase in the external finance premium Furthermore, the bank ... informational frictions between banks and entrepreneurs as well as banks and depositors I so by adding a moral hazard problem between banks and depositors along the lines of Gertler and Karadi (2010) to...

Ngày tải lên: 22/03/2014, 21:20

... on banking and macroeconomics Our model of banking and bank capital is closely related to Gertler and Karadi (2011), in the sense that bank capital is motivated by financial frictions between bankers ... financial and economic cycles and examines its interaction with monetary policy The framework used is a dynamic stochastic general equilibrium model with banks and bank capital, in which bank capital ... Bank of Canada Working Paper 2011-32 December 2011 Bank Leverage Regulation and Macroeconomic Dynamics by Ian Christensen,1 Césaire Meh2 and Kevin Moran3 1Financial...

Ngày tải lên: 22/03/2014, 21:20

... local bank markets and the size and geographical scope of the merging banks The widespread bank consolidation in the US has been met with a growing literature on the impact of bank mergers on bank ... long-run post-merger dynamics and controls for bank size and asset risk with total assets and bad loans, and for the market In their study, efficiency gains prevail Whereas merging banks tend to decrease ... multimarket banking is closely related to that strand which concentrates on the interaction between bank size and the way banks compete In a seminal paper, Stein (2002) argues that large and small banks...

Ngày tải lên: 17/02/2014, 03:20

... understand the role of financial factors in macroeconomic outcomes (see, inter alia, Bordo et al 2001; Cerra and Saxena 2008; Mendoza and Terrones 2008; Hume and Sentance 2009; Reinhart and Rogoff ... and Rogoff 2009ab; Bordo and Haubrich 2010; Reinhart and Reinhart 2010; Teulings and Zubanov 2010; Claessens, Kose, and Terrones 2011; Kollman and Zeugner 2012; Schularick and Taylor 2012) Our paper ... GDP and real GDP per capita We have also collated data on price levels and inflation, investment and the current account, as well as financial data on outstanding private bank loans (domestic bank...

Ngày tải lên: 06/03/2014, 08:20

... this index in banking are Koutsomanoli and Staikouras (2004), Bikker and Haaf (2002), Demenagas and Gibson (2002), De Bandt and Davis (2000), Hondroyiannis et al.(1999) and Hardy and Simiyiannis ... of bank management, financial markets and bank supervisors The majority of studies on bank profitability, such as Short (1979), Bourke (1989), Molyneux and Thornton (1992), Demirguc-Kunt and ... BANK- SPECIFIC, INDUSTRY-SPECIFIC AND MACROECONOMIC DETERMINANTS OF BANK PROFITABILITY Panayiotis P Athanasoglou Bank of Greece Sophocles N Brissimis Bank of Greece and University...

Ngày tải lên: 22/03/2014, 23:20

... in Developed markets DEVELOPED MARKETS  c CHF bn / EUR bn Revenues  c CHF 0.5 bn / EUR 0.4 bn EBITDA 10% to 15% of combined EBITDA Limited divestments in Emerging markets EMERGING MARKETS  c ... competitive pressures; (2) legislative and regulatory developments; (3) global, macroeconomic and political trends; (4) fluctuations in currency exchange rates and general financial market conditions; ... 17 235 Customer focus Value management Pricing policies Marketing and sales forces skills and motivation Cost Leadership Energy and AFR Logistics Fixed cost Total increase 1) Cash cost to achieve...

Ngày tải lên: 28/07/2014, 20:21

... price-fixing and collusion Conventional market analysis tools may be inadequate for assessing markets and the effects of interventions on ARV markets because these markets are complex and changing ... salient supply- and demand-side characteristics of the market for first-line, adult ARVs in low- and middleincome countries and illustrates relationships between market evolution and the policies ... available and the amounts necessary to achieve universal access Their interventions aim to provide safe, acceptable and good quality diagnostics and medicines for HIV/AIDS treatment and care, and to...

Ngày tải lên: 11/08/2014, 14:21

... structure and tapping the private financial markets with equity share issuance (eg Sberbank and VTB in Russia) The ownership is highly concentrated in both countries, and almost all banks are ... ownership, corporate governance and operating performance in banks using a sample of 50 banks in Ukraine surveyed in 2004 and 107 banks in Russia surveyed in 2003 and 2006 We find some significant, ... Journal of Banking and Finance 21, 895-947 Berger, A.N., G Clarke, R Cull, L, Klapper and G.F Udell, 2005, Corporate Governance and Bank performance: A joint analysis of the static, selection, and dynamic...

Ngày tải lên: 02/01/2015, 17:33

... structure and tapping the private financial markets with equity share issuance (eg Sberbank and VTB in Russia) The ownership is highly concentrated in both countries, and almost all banks are ... ownership, corporate governance and operating performance in banks using a sample of 50 banks in Ukraine surveyed in 2004 and 107 banks in Russia surveyed in 2003 and 2006 We find some significant, ... Journal of Banking and Finance 21, 895-947 Berger, A.N., G Clarke, R Cull, L, Klapper and G.F Udell, 2005, Corporate Governance and Bank performance: A joint analysis of the static, selection, and dynamic...

Ngày tải lên: 06/01/2015, 19:47

... technology and business norms of a modern bank However, according to the present regulation of the State bank and the Charter of Organization and Operation of Bank for Investment and Development ... chain of “supermarkets” of banking, contributing to form the network of Retail banking network, with full modern customer-oriented facilities and banking services, meeting the demand and needs of ... motivated and self control ability of the branch and other offices Detailed as: • Timely and concretely deploy documents and regulations of State Bank about banking activities in general and credit...

Ngày tải lên: 27/10/2012, 16:49

... and acquiring cards’ business made significant achievement and profit for Vietnam market and commercial banks To Vietnam Bank for Agriculture and Rural Development, the bank has just joined bankcard’s ... state of Agribank cards Chapter III: Solutions to develop Agribank cards at Agribank Thanh Xuan iv Glossary of Terms and Abbreviations Agribank ABIC Vietnam Bank for Agriculture and Rural Development ... diversified services and products supplied Agribank is one of the biggest commercial banks in Vietnam which has been connected to Visa and Banknet All the card products which labeled Visa and Banknet logo...

Ngày tải lên: 09/11/2012, 15:31

... ServiceProcessInstaller and ServiceInstaller must be inherited a) Only statements and are d) Statements 1, 2, are true true b) Only statements and are e) None of the above is true true c) Only statements and are ... handler methods used [2.5] for windows services? a) To invoke the methods c) To invoke the methods OnPause() and OnPause() and OnContinue(), the property OnContinue(), the property CanPauseAndContinue ... used c) The gacutil.exe can be to install and uninstall used to list assemblies on assemblies from the GAC the GAC using the using the command line command line b) Private assemblies can be d)...

Ngày tải lên: 09/04/2013, 09:10

... permissions and user access a) True 45 46 b) False If a directory has write and execute permissions, a user cannot upload aspx files and execute them on your Web server a) True The client browser and ... Description, Discovery and Integration c) Universal Description, Discovery and Integration b) Unified Description, Discovery and Integration [0.5] d) Universal Descriptor, Discovery and Integration ... establish a connection between the application and the database Command Object - The command object allows you to retrieve and manipulate data in the database a) Statement c) Statement b) Both...

Ngày tải lên: 09/04/2013, 09:10

... City for their teaching and guidance during my Master of Banking and Finance course I also wish to thank all my coworkers in Military Bank, my friends in Bank for Investment and Development of Viet ... bank loans to firms’ total assets (LTA) and firms’ short-term bank loans to firms’ total assets (STA) used by firms when raising funds from banks as two proxies for short-term and long-term bank ... relationship between bank loan and asset turnover H2: There should be a positive relationship between bank loan and firm size H3: There should be a positive relationship between bank loan and firm age...

Ngày tải lên: 27/09/2013, 21:53

... a layer, w hich became deeper an d deeper M ore and m ore earth and dirt on top of this layer Subsequently, this layer by rocks and dirt, and so the energy of the dead plan ts un de rneath ... NIT Machines, cycles, and prou~sl'S Combine [he following pairs of sentences using which a Sometimes, computers make mistakes and prevent things happening This wastes valuable time and can cost ... Expressing result and purpose The extract below contains three paragraphs, each organized to express functions such as cause and result Identify the ideas that relate to each function and underline...

Ngày tải lên: 25/10/2013, 07:20

... experiences over the last 20 years of the independent Bank of Israel, Central Bank of Brazil, National Bank of Poland, and Reserve Bank of New Zealand, among others, in societies where populism previously ... sometimes paid to the official mandate of central banks – they follow the example of the Deutsche Bundesbank, and have a solely price stability mandate? Differences in mandates turn out to have no ... Kuttner and Posen (2009)) This should not come as a total surprise, given that the Swiss National Bank and the US Federal Reserve have to both be classified as having multiple goal mandates, and...

Ngày tải lên: 15/02/2014, 13:20

... is biased towards the small and medium-sized savings and cooperative banks In December 2009, savings banks and cooperative banks accounted for 22.2% and 59.7% of all banks in Germany, respectively ... the results for the median bank and we break down the results into banking groups and years Over the whole period 2005-2009 and over all banking groups, the median bank earned 26.3 basis points ... worst one for a bank? Evidence from a tracking bank approach for German savings and cooperative banks International Journal of Banking, Accounting and Finance 1(1), 85–104 Memmel, C and I Stein (2008)...

Ngày tải lên: 16/02/2014, 06:20

... and clearing systems 3.3.1 Provision of payment and securities settlement facilities 3.3.2 Oversight of payment and securities settlement systems 3.4 Euro banknotes and coins 3.5 Collection and ... Co-operation and Development 5.4 ECB participation in informal fora for finance ministers and central bank governors 5.4.1 G7 finance ministers and central bank governors 5.4.2 G10 finance ministers and ... ministers and central bank governors 5.4.3 G20 finance ministers and central bank governors 5.4.4 Financial Stability Forum 5.4.5 Bank for International Settlements and central bank fora 143 143...

Ngày tải lên: 16/02/2014, 10:20