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This paper presents a model to assess the efficiency of the capital structure in public-private partnerships (PPP). A main argument supporting the PPP approach for investment projects is the transfer of know-how from the private partner to the public entity. The paper shows how different...
Persistent link: https://www.econbiz.de/10014401485
. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment …
Persistent link: https://www.econbiz.de/10009618519
Persistent link: https://www.econbiz.de/10009620996
Widespread implicit guarantees and interest ceilings were major distortions in China's financial system, contributing to a misallocation of resources. We analyze the impact of removing such frictions in a general equilibrium setting. The results show that comprehensive reforms generate better...
Persistent link: https://www.econbiz.de/10011445597
This paper highlights the changing collateral landscape and how it may shape the global demand/supply for collateral …. We first identify the key collateral pools (relative to the “old” collateral space) and associated collateral velocities … banks are significantly altering the collateral space. Moreover, regulatory demands stemming from Basel III, Dodd Frank …
Persistent link: https://www.econbiz.de/10012671040
discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our … Eurozone collateral pool to incentivize EMs, and why many securities (e.g., BTPs, Italy) are acceptable in London but not EM … sheet capacity to intermediate cross-border collateral will be crucial for this market to develop …
Persistent link: https://www.econbiz.de/10012604765
Financial lubrication in markets is indifferent to margin posting via money or collateral; the relative price(s) of … money and collateral matter. Some central banks are now a major player in the collateral markets. Analogous to a coiled … spring, the larger the quantitative easing (QE) efforts, the longer the central banks will impact the collateral market and …
Persistent link: https://www.econbiz.de/10012667533
Persistent link: https://www.econbiz.de/10009422250
global perspective. At the same time, collateral requirements applied by banks are onerous and also constrain the quantity of … the high collateral requirements. Reforms in all these areas would support greater financial inclusion in the aftermath of …
Persistent link: https://www.econbiz.de/10012302053
We study how financial frictions amplify labor supply shocks in a macroeconomic model with occasionally binding financing constraints. Workers supply labor to entrepreneurs who borrow to purchase factors of production. Borrowing capacity is restricted by the value of capital, generating a...
Persistent link: https://www.econbiz.de/10012302066