Showing 1 - 10 of 21
Persistent link: https://www.econbiz.de/10000535868
[...]This paper presents an overview of the new capitalrequirements. In the first section, we describe the structureof the requirements and the considerations that went intotheir design. In addition, we address some of the concernsthat have been raised about the methods of calculating...
Persistent link: https://www.econbiz.de/10005870218
[...]This article explores the inflation puzzle andinvestigates whether compensation has acted as either atemporary restraint on inflation or as the underlying sourceof a new inflation regime.2 After reviewing the recent behavior of inflation, we specify and estimate a traditionalprice-inflation...
Persistent link: https://www.econbiz.de/10005870223
[...]We begin by explaining the three most commoncategories of value-at-risk models—equally weighted movingaverage approaches, exponentially weighted movingaverage approaches, and historical simulation approaches.Although within these three categories many differentapproaches exist, for the...
Persistent link: https://www.econbiz.de/10005870342
An interesting puzzle is that trade liberalization in the 1980s and 1990s has been associated with a sharp increase in the skill premium in both developed and developing countries.This is in contrast with neoclassical theory, according to which trade should increase therelative return of the...
Persistent link: https://www.econbiz.de/10008860714
This paper addresses the consumption–real exchange rate anomaly.International real business cycle models based on complete financialmarkets predict a unitary correlation between the realexchange rate and the ratio of home to foreign consumptionwhen subjected to supply-side shocks. In the data,...
Persistent link: https://www.econbiz.de/10009138476
[...]This paper studies a simple model of the talent-ownership mismatch — or failure ofmeritocracy — brought about by credit market imperfections that arise as a consequence ofagency problems in the borrower-lender relationship. Our model highlights the interactionbetween the market for...
Persistent link: https://www.econbiz.de/10009305079
This paper studies changes over time in the incidence of labor tying. The existingliterature is successful in explaining the emergence of this institution, but contains thecounterfactual implication that there should be an increasing trend in labor tying. However,previous contributions have so...
Persistent link: https://www.econbiz.de/10009305096
The 1990s were characterized by substantial financial sectorconsolidation across a large number of industrializedcountries...
Persistent link: https://www.econbiz.de/10005869393