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The present value of corporate profits : a forecasters’ survey perspective

Andrle, Michal - 2019

This paper presents and discusses the estimates of the present value of corporate profits in the United States from 1984 to 2018. To value the expected income stream, it uses the long-range forecasts of professional forecasters for pre-tax corporate earnings and long-term Treasury note yields,...

Persistent link: https://www.econbiz.de/10012001557

Labor costs and corporate investment in Italy

Garcia-Macia, Daniel - 2020

The recovery of private investment in Italy has lagged its euro area peers over the past decade. This paper examines the role of elevated labor costs in hindering the recovery. Specifically, labor costs rose faster than labor productivity prior to the global financial crisis and have remained...

Persistent link: https://www.econbiz.de/10012177626

Breaking the bank? : a probabilistic assessment of euro area bank profitability

Elekdaǧ, Selim Ali; Malik, Sheheryar; Mitra, Srobona - 2019

This paper explores the determinants of profitability across large euro area banks using a novel approach based on conditional profitability distributions. Real GDP growth and the NPL ratio are shown to be the most reliable determinants of bank profitability. However, the estimated conditional...

Persistent link: https://www.econbiz.de/10012154822

Where have all the profits gone? : European bank profitability over the financial cycle

Detragiache, Enrica; Tressel, Thierry; Turk Ariss, Rima - 2018

The paper investigates EU banks' profitability through the recent financial cycle using banklevel balance sheet and income statement data. We find that banks that were more successful at protecting their profits had a less pronounced deterioration in loan quality and a larger improvement in cost...

Persistent link: https://www.econbiz.de/10011852611

A closer look at sectoral financial linkages in Brazil I : corporations’ financial statements

Karpowicz, Izabela; Lipinsky, Fabian; Park, Jongho - 2016

Understanding the interplay between firms' balance sheets and the macro-economic environment is important for understanding of the Brazilian economy. A close examination of developments in the nonfinancial corporate sector up to the early 2015 reveals weak equity growth, declining profitability,...

Persistent link: https://www.econbiz.de/10011445363

Wages, Profitability, and Growth in a Small Open Economy

Chadha, Bankim - 1990

This paper examines issues raised by the evolution of a rapidly growing small open economy—Singapore—from a labor-intensive, low-technology production base to a capital-intensive, high-technology, knowledge-and-skill-intensive emphasis as it approached the limits of its resource constraints...

Persistent link: https://www.econbiz.de/10014396069

Exploring residual profit allocation

Beer, Sebastian; Mooij, Ruud A. de; Hebous, Shafik; … - 2020

Schemes of residual profit allocation (RPA) tax multinationals by allocating their 'routine' profits to countries in … which their activities take place and sharing their remaining 'residual' profit across countries on some formulaic basis …

Persistent link: https://www.econbiz.de/10012251292

FX intervention to stabilize or manipulate the exchange rate? : inference from profitability

Sandri, Damiano - 2020

We analyze the profitability of FX swaps used by the central bank of Brazil to shed light on the rationale for FX intervention. We find that swaps are profitable in expectation, suggesting that FX intervention is used to stabilize the exchange rate in the face of temporary excessive movements...

Persistent link: https://www.econbiz.de/10012251968

Corporate sector vulnerabilities in Ireland

Klein, Nir - 2016

The paper uses both macro- and micro-level data to assess how has the financial health of the Irish non-financial corporate (NFC) sector changed in the post financial crisis period. The analysis suggests that vulnerabilities have generally declined in recent years, but the NFC sector and...

Persistent link: https://www.econbiz.de/10011715543

Decomposing the inflation dynamics in the Philippines

Guo, Si; Karam, Philippe; Vlček, Jan - 2019

Inflation rates rose sharply in the Philippines during 2018. Understanding the demand and supply sources of inflation … pressures is key to monetary policy response. Qualitatively, indicators have pointed to evidence of inflation pressures from …-structural model to decompose the contributions of various shocks to inflation. Our main findings are (1) supply factors (mainly global …

Persistent link: https://www.econbiz.de/10012102135

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