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The Cost of Capital in Markets with Opaque Intermediaries and the Risk-Structure of Interest Rates
Mierzejewski, Fernando - 2009
The demand for cash balances of financial intermediaries that establish contractual liabilities with credit-sensitive customers is characterized. As stated by Merton, the success of the business activities of such firms crucially depends on their credit quality, and hence, they are obliged to...
Persistent link: https://www.econbiz.de/10013160192
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‘Williamson's Fallacy’ in Estimation of Inter-Regional Inequality
Gluschenko, Konstantin - 2017
When estimating regional inequality, many economists use inequality indices weighted by the regions' shares in the national population. Although this approach is widespread, its adequacy has not received attention in the regional science literature. This paper proves that such approach is...
Persistent link: https://www.econbiz.de/10012943787
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An Automatic Procedure for the Estimation of the Tail Index
Gimeno, Ricardo - 2012
Extreme Value Theory is increasingly used in the modelling of financial time series. The non-normality of stock returns leads to the search for alternative distributions that allows skewness and leptokurtic behavior. One of the most used distributions is the Pareto Distribution because it allows...
Persistent link: https://www.econbiz.de/10013109505
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The Structural Relationship Between Current and Capital Account Balance in India : A Time Series Analysis
Chakraborty, Debashis; Mukherjee, Jaydeep; Sinha, Tanaya - 2010
aftermath of the Southeast Asian crisis, the limitation of the liberal capital regime for a developing country like India is … often highlighted in the literature. However, the probable impact of introducing KAC on CAB in India generally is discussed … theoretically. Though some of the existing studies in India have earlier focused on this research question, they have done so by …
Persistent link: https://www.econbiz.de/10014194754
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Socioeconomic Progress Across the Major Indian States : Converging or Diverging
Goli, Srinivas; Arokiasamy, P.; Reddy, Bheemeshwar - 2013
The purpose of this paper is to examine the progress in socioeconomic conditions across the major states of India by …
Persistent link: https://www.econbiz.de/10014154852
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Service Sector Led Economic Growth in India and Some Measurement and Database Issues
Saikia, Dilip - 2017
In recent years there has been a rapid and sustained growth of the service sector in the Indian economy. But unfortunately, while the importance of the services is growing statistical data and other relevant information of the services are abysmally low. There are problems relating to the...
Persistent link: https://www.econbiz.de/10014187326
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Credibility and monetary policy under inflation targeting
mhamdi, ghrissi; aguir, abdelkader; farhani, ramzi - Volkswirtschaftliche Fakultät, … - 2015
After more than two decades of inflation targeting in the world, it is important to evaluate if the adoption of this regime in a relevant developing country contributed to the creation of a better environment for the process of entrepreneurs' expectations formation. Brazil is part of an...
Persistent link: https://www.econbiz.de/10011271311
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Interest Rates, Exchange Rates and Macroeconomic Performance
Erdoğan, Seyfettin; Karacan, Rıdvan; Alpaslan, Barış - Volkswirtschaftliche Fakultät, … - 2013
In recent years, there has been a renewed interest in the fact that a change in exchange rates has an impact on main economic indicators and therefore on macroeconomic performance. The aim of this paper is to study the implications of the relationship between exchange rates and changes in...
Persistent link: https://www.econbiz.de/10011260687
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Risk management in Takaful
Akhter, Waheed - Volkswirtschaftliche Fakultät, … - 2010
Risk management is of vital importance in Islam and Takāful provides a way to manage risks in business according to Sharī’ah principles. This research paper attempts to identify various types of risks involved in Takāful business that affect operational and investment functions of Takāful...
Persistent link: https://www.econbiz.de/10011261182
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Central banks and asset prices: the role of the interest rate in volatility correction in the Romanian case
Albulescu, Claudiu Tiberiu - Volkswirtschaftliche Fakultät, … - 2008
The speculative bubbles of asset prices, and especially their burst out, have a negative impact on the financial stability and also on the prices stability – the main objectives of central banks. As a consequence, a more attentive observation of the evolution of these prices is necessary. In...
Persistent link: https://www.econbiz.de/10005078651