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A Macroeconomic Approach to the Term Premium

Kopp, Emanuel - 2018

In recent years, term premia have been very low and sometimes even negative. Now, with the United States economy growing above potential, inflationary pressures are on the rise. Term premia are very sensitive to the expected future path of growth, inflation, and monetary policy, and an inflation...

Persistent link: https://www.econbiz.de/10012913929

Cyber Risk, Market Failures, and Financial Stability

Kopp, Emanuel - 2017

Cyber-attacks on financial institutions and financial market infrastructures are becomingmore common and more sophisticated. Risk awareness has been increasing, firms activelymanage cyber risk and invest in cybersecurity, and to some extent transfer and pool theirrisks through cyber liability...

Persistent link: https://www.econbiz.de/10012948520

Determinants of U.S. Business Investment

Kopp, Emanuel - 2018

U.S. business investment has taken a serious toll during the global financial crisis and also in the recovery phase investment did not pick up as expected. What is surprising is that the alleged investment slowdown happened at a time of record corporate profits and retained earnings, highly...

Persistent link: https://www.econbiz.de/10012913931

How Do Regulations of Entry and Credit Access Relate to Industry Competition? International Evidence

Igan, Deniz - 2018

We examine the extent to which regulations of entry and credit access are related to competition using data on 28 … manufacturing sectors across 64 countries. A robust finding is that bureaucratic and costly entry regulations tend to hamper … competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are …

Persistent link: https://www.econbiz.de/10012918554

Political Price Cycles in Regulated Industries : Theory and Evidence

Paiva, Claudio - 2007

This paper develops a model of political regulation in which politicians set the regulated price in order to maximize electoral support by signaling to voters a pro-consumer behavior. Political incentives and welfare constraints interact in the model, yielding an equilibrium in which the real...

Persistent link: https://www.econbiz.de/10012777969

Politically Robust Financial Regulation

Agur, Itai - 2021

The deferred recognition of COVID-induced losses at banks in many countries hasreignited the debate on regulatory forbearance. This paper presents a model where thepublic's own political pressure drives regulatory policy astray, because the public is poorlyinformed. Using probabilistic game...

Persistent link: https://www.econbiz.de/10013243078

Macro-Prudential Policy in a Fisherian Model of Financial Innovation

Bianchi, Javier - 2012

this interaction drives the financial amplification mechanism to study the effects of macro-prudential policy. Financial …

Persistent link: https://www.econbiz.de/10013098624

The Low-Skill, Bad-Job Trap

Snower, Dennis J. - 2008

The paper explains how a country can fall into a quot;low-skill, bad-job trap,quot; in which workers acquire insufficient training and firms provide insufficient skilled vacancies. In particular, the paper argues that in countries where a large proportion of the workforce is unskilled, firms...

Persistent link: https://www.econbiz.de/10012774282

IMF Conditionality and Country Ownership of Programs

Khan, Mohsin S. - 2021

The paper uses finance and agency theory to establish two main propositions: First, that the conditionality attached to adjustment programs supported by the IMF is justified. Second, that ownership of programs by the borrowing country is crucial for their success. Hence, since both IMF...

Persistent link: https://www.econbiz.de/10013211946

Green Bond Pricing and Greenwashing Under Asymmetric Information

Schmittmann, Jochen; Gao, Yun - 2023

implications, notably the need for swift action on carbon pricing and strong information disclosures and regulations to ensure the …

Persistent link: https://www.econbiz.de/10014258404

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