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Delegated portfolio management, benchmarking, and the effects on financial markets

Igan, Deniz; Pinheiro, Marcelo - 2015

Persistent link: https://www.econbiz.de/10011373935

Savings, Growth and Capital Markets Imperfections : The Case of Borrowing Constraints

De Gregorio, Jose - 1993

This paper studies the effects that borrowing constraints have on savings and growth and argues that, though they increase savings, their effect on growth is ambiguous. Empirical evidence on the extent of borrowing constraints as well as savings, investment, human capital accumulation and growth...

Persistent link: https://www.econbiz.de/10014398466

Financial Frictions and Business Cycles in Middle-Income Countries

Guajardo, Jaime - 2008

A standard DSGE small open economy model can not generate the cyclical regularities of middle-income countries. It predicts excessive consumption smoothing, and procyclical, instead of countercyclical, real net exports. Previous studies have solved this problem by increasing the shocks’...

Persistent link: https://www.econbiz.de/10014401285

Overborrowing, Financial Crises and ‘Macro-Prudential’ Policy?

Mendoza, Enrique G. - 2011

This paper studies overborrowing, financial crises and macro-prudential policy in an equilibrium model of business cycles and asset prices with collateral constraints. Agents in a decentralized competitive equilibrium do not internalize the negative effects of asset fire-sales on the value of...

Persistent link: https://www.econbiz.de/10014402904

The Composition Matters : Capital Inflows and Liquidity Crunch During a Global Economic Crisis

Tong, Hui - 2009

non-FDI capital inflows worsens the credit crunch, while exposure to FDI alleviates the liquidity constraint. Similar …

Persistent link: https://www.econbiz.de/10014402471

Emerging Markets Crisis : An Asset Markets Perspective

Krishnamurthy, Arvind - 1999

The entire difference between a mild downturn and a devastating crisis is the occurrence of sharp fire sales of domestic assets and possibly foreign exchange and the ensuing collapse in the balance sheets of both the financial and nonfinancial sector. Why and how do such crises materialize? And...

Persistent link: https://www.econbiz.de/10014400170

Growth and Capital Flows with Risky Entrepreneurship

Sandri, Damiano - 2010

This paper shows that the behavior of entrepreneurs facing incomplete financial markets and risky investment can explain why growth accelerations in developing countries tend to be associated with current account improvements. The uninsurable risk of losing invested capital forces entrepreneurs...

Persistent link: https://www.econbiz.de/10014404314

Measuring Liquidity in Financial Markets

Lybek, Tonny - 2002

This paper provides an overview of indicators that can be used to illustrate and analyze liquidity developments in … aspects of market liquidity, namely tightness (costs), immediacy, depth, breadth, and resiliency. These measures are applied …''s degree of liquidity and because market-specific factors and peculiarities must be considered …

Persistent link: https://www.econbiz.de/10014399617

Risks and vulnerabilities in the U.S. bond mutual fund industry

Bouveret, Antoine; Yu, Jie - 2021

This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of … Distress'. Overall, most U.S. mutual funds are resilient yet high yield (HY) and loan funds would face a liquidity shortfall …

Persistent link: https://www.econbiz.de/10012605013

Corporate tax reform : from income to cash flow taxes

Carton, Benjamin; Fernandez-Corugedo, Emilio; Hunt, … - 2019

This paper uses a multi-region, forward-looking, DSGE model to estimate the macroeconomic impact of a tax reform that replaces a corporate income tax (CIT) with a destination-based cash-flow tax (DBCFT). Two key channels are at play. The first channel is the shift from an income tax to a...

Persistent link: https://www.econbiz.de/10012001561

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