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risk include an additional stress component introduced by the recent Basel 2.5 regulation. Our optimization with the Basel …
Persistent link: https://www.econbiz.de/10011615848
We present a theoretical and empirical analysis of the links between the gender of an entrepreneur, access to finance … medium enterprises, possibly, because in large firms borrowing is a less essential source of finance. An important policy …
Persistent link: https://www.econbiz.de/10011615908
-day Africa, Asia, and Latin America. Much of the economics of Islam focuses on the role that Islam and Islamic institutions …
Persistent link: https://www.econbiz.de/10012269435
This paper introduces finance or credit in the Dixit-Stiglitz-Krugman (DSK) model of international trade. It identifies … mechanisms by which finance can affect the main results of the conventional model. The key results are as follows. Perfect credit … output per variety. Thus, availability of finance will determine a specific trade pattern between richer and poorer nations …
Persistent link: https://www.econbiz.de/10013353416
international finance is what is insurance and where does insurance end?' This paper aims to elaborate on the economics of insurance … and its borders with general finance. It argues that the classification challenge by regulators partly stems from … terminological confusion between insurance activities and more general financial activities. Insurance and finance both use the same …
Persistent link: https://www.econbiz.de/10010480802
When Bayesian risk-averse investors are uncertain about their assets’ cash flows’ exposure to systematic risk, stock prices react more to news in downturns than in upturns, implying higher volatility in downturns and negatively skewed returns. The reason is that, in good times, less...
Persistent link: https://www.econbiz.de/10011815772
The paper advances the log-generalized gamma distribution as a suitable generator of conditional skewness. Based on the NYSE composite daily returns an asMA-asQGARCH model along with skewness dynamics is estimated. The results indicate a skewness that varies between sizeable negative skewness...
Persistent link: https://www.econbiz.de/10010315189
We contribute to the finance literature in two main ways. First, we present a theoretical capital asset pricing model …
Persistent link: https://www.econbiz.de/10010291538
The paper analyses the linkages from financial developments to public finances. It maps and discusses the transmission channels to fiscal variables. These channels include asset prices, financing conditions, balance sheets of banks, non-banks and central banks and international linkages. The...
Persistent link: https://www.econbiz.de/10012864940
Many important questions in the field of public finance can be viewed as problems involving public policies in open … economies. This paper draws together, from that perspective, a wide range of topics in public economics, emphasizing the …
Persistent link: https://www.econbiz.de/10013237225