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ECB President Draghi's Jackson Hole speech in August 2014 arguably marked a new phase of unconventional monetary policies (UMPs) in the euro area. This paper examines the market impact and tranmission channels of this new wave of UMPs using a modified event study framework. They are found to...
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tightened following announcements related to easier bank capital regulation while equity valuation rose and financial conditions …
Persistent link: https://www.econbiz.de/10012518694
This paper examines the response of firms to capital destruction, using a new measure of firm exposure to tropical … storms as a negative exogenous shock on firms' capital stock. Drawing on a panel of Indian manufacturing firms between 1995 … industry, the sales of less productive firms decrease disproportionately more, while across industries capital destruction …
Persistent link: https://www.econbiz.de/10012391952
The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall, IFRS 17 is a welcome development but there will be challenges of implementation....
Persistent link: https://www.econbiz.de/10012300617
metrics based on equity market valuations of bank capital are better than regulatory capital ratios, and other metrics, in …
Persistent link: https://www.econbiz.de/10012103615
total physical capital as a key input. Implicitly this assumes that private and public capital stocks are perfect … substitutes. In this paper we test this assumption by estimating a nested-CES production function whereas the two types of capital … private capital stocks for 151 countries over a period of 1960-2014 consistent with Penn World Table version 9. We find …
Persistent link: https://www.econbiz.de/10012154588
by increased trade integration within the European Community and by the accumulation not only of business sector capital …—the only measure of capital included in most empirical studies—but also by the accumulation of government infrastructure … capital, residential capital, and R&D capital. Calculations of potential output indicate that trade and capital …
Persistent link: https://www.econbiz.de/10014396036
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