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Transparency, Risk Management and International Financial Fragility

Draghi, Mario - 2003

Discussions of financial risk often fail to distinguish between risks that are consciously borne and those that are not. To understand the breeding conditions for financial crises the prime focus of concern should not be simply on large risk-taking per se, but on the unintended, or unanticipated...

Persistent link: https://www.econbiz.de/10012786498

Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?

Merrill, Craig B. - 2012

Much attention has been paid to the large decreases in value of non-agency residential mortgage-backed securities (RMBS) during the financial crisis. Many observers have argued that the fall in prices was partly driven by decreased liquidity and fire sales. We investigate whether capital...

Persistent link: https://www.econbiz.de/10013102712

Did Fair-Value Accounting Contribute to the Financial Crisis?

Laux, Christian - 2010

The recent financial crisis has led to a major debate about fair-value accounting. Many critics have argued that fair-value accounting, often also called mark-to-market accounting, has significantly contributed to the financial crisis or, at least, exacerbated its severity. In this paper, we...

Persistent link: https://www.econbiz.de/10013150289

Revenue and Incentive Effects of Basis Step-Up at Death : Lessons from the 2010 "Voluntary" Estate Tax Regime

Gordon, Robert N. - 2016

In 2010, the U.S. estate tax expired and executors of wealthy decedents were not required to file estate tax returns. In the absence of the estate tax, beneficiaries received assets with carryover rather than stepped-up basis. Unrealized capital gains accounted for 44 percent of the fair market...

Persistent link: https://www.econbiz.de/10012996389

Investment, Accounting, and the Salience of the Corporate Income Tax

Edgerton, Jesse - 2012

This paper develops and tests the hypothesis that accounting rules mitigate the effect of tax policy on firm investment decisions by obscuring the timing of tax payments. I model a firm that maximizes a discounted weighted average of after-tax cash flows and accounting profits. I estimate the...

Persistent link: https://www.econbiz.de/10013099122

Adoptive Expectations : Rising Sons in Japanese Family Firms

Mehrotra, Vikas - 2011

postwar Japan than generally realized, and also performing well - an unusual finding for a developed economy. Adopted heirs …

Persistent link: https://www.econbiz.de/10013128613

Currency and Financial Crises of the 1990s and 2000s

Razin, Assaf - 2011

leading to severe banking crisis in Japan; 2) The foreign reserves' meltdown triggered by foreign hot money flight from frothy …

Persistent link: https://www.econbiz.de/10013130560

The Market Microstructure of Central Bank Intervention

Dominguez, Kathryn M.E. - 2011

One of the great unknowns in international finance is the process by which new information influences exchange rate behavior. This paper focuses on one important source of information to the foreign exchange markets, the intervention operations of the G-3 central banks. Previous studies using...

Persistent link: https://www.econbiz.de/10013132797

Property Rights and Financial Development : The Legacy of Japanese Colonial Institutions

Yoo, Dongwoo - 2010

this line of research to Asia. Japan imposed its system of well-defined property rights in land on some of its Asian … colonies, including Korea, Taiwan and Palau. In 1939 Japan began to survey and register private land in its island colonies, an … land registration obsolete. Third, considering all of Japan's colonies, we use the presence or absence of a land survey as …

Persistent link: https://www.econbiz.de/10013135762

Business Fixed Investment and the Recent Business Cycle in Japan

Kiyotaki, Nobuhiro - 2010

To analyze business fixed investment in Japan, which has been unusually volatile in recent years, we develop and apply …

Persistent link: https://www.econbiz.de/10013137602

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