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Financing infrastructure using asset-backed securities : lessons for developing countries

Chikolwa, Bwembya - 2008

The purpose of the paper is to investigate how Asset-Backed Securitization (ABS) can be used to fund infrastructure development in developing countries. This paper also presents a case study on how ABS has been used to fund infrastructure in Australia and points out the lessons that developing...

Persistent link: https://www.econbiz.de/10009437780

A Balancing Act: Making the Canadian Secured Credit Facility Work

Laurin, Alexandre - C. D. Howe Institute - 2009

The January 2009 federal budget proposed funding a “Canadian Secured Credit Facility” as part of an economic action plan. This Facility will allocate up to $12 billion to purchases of term asset-backed securities (ABS) for loans and leases on vehicles and equipment. The Facility will be...

Persistent link: https://www.econbiz.de/10005169656

Financial engineering, consumer credit, and the stability of effective demand

Brown, Christopher - In: Journal of Post Keynesian Economics 29 (2007) 3, pp. 427-450

This paper examines the macroeconomic implications of recent developments in financial engineering, with particular emphasis on the post-1987 growth of markets for securities backed by credit card, installment, student loan, and home equity receivables. Three linkages of financial engineering to...

Persistent link: https://www.econbiz.de/10005233041

LITIGATIONS, DAMAGES AND SOLUTIONS IN RESIDENTIAL MORTGAGE-BACKED SECURITIES

Jomadar, Dinesh - Volkswirtschaftliche Fakultät, … - 2009

Mortgage-backed securities (MBS) are debt obligations whose cash flows are backed by the principal and interest … payments of pools of mortgage loans, most commonly on residential property (Riddiough, 2001). Lenders establish underwriting … underlying assets for residential mortgage-backed securities. Individuals with strong credit qualify for traditional mortgages …

Persistent link: https://www.econbiz.de/10008866120

Warum ABS schlechte Produkte sein können, aber nicht müssen

Rudolph, Bernd - In: Ifo Schnelldienst 67 (2014) 22, pp. 09-14

Bernd Rudolph, Ludwig-Maximilians-Universität München und Steinbeis Hochschule Berlin, zeigt in seinem Kommentar, welche Vor- und Nachteile mit einer Nutzung der ABS-Märkte verbunden sind, wie sie gestaltet und wie sie reguliert sein müssen, damit die genannten Defizite und möglichen...

Persistent link: https://www.econbiz.de/10011148729

Optimal incentives and securitization of defaultable assets

Malamud, Semyon; Rui, Huaxia; Whinston, Andrew - In: Journal of Financial Economics 107 (2013) 1, pp. 111-135

We study optimal securitization in the presence of an initial moral hazard. A financial intermediary creates and then sells to outside investors defaultable assets, whose default risk is determined by the unobservable costly effort exerted by the intermediary. We calculate the optimal contract...

Persistent link: https://www.econbiz.de/10010593827

Was it really a Minsky moment?

Behlul, Timur - In: Journal of Post Keynesian Economics 34 (2011) 1, pp. 137-158

role in Minsky's theory, exhibited any such patterns. I conclude that the nonfinancial corporate sector did not move toward …

Persistent link: https://www.econbiz.de/10010612922

Asset inflation and monetary policy

KINDLEBERGER, C.P. - In: BNL Quarterly Review 48 (1995) 192, pp. 17-37

Asset inflation is characterised by an increase in the prices of assets while output prices are relatively stable or on a decline. In the event of asset inflation, international coordination of monetary policy is an observable trend. For instance, in 1989, when Japan was at the worst phase of...

Persistent link: https://www.econbiz.de/10010765213

Asset inflation and monetary policy

KINDLEBERGER, C.P. - In: Banca Nazionale del Lavoro Quarterly Review 48 (1995) 192, pp. 17-37

Persistent link: https://www.econbiz.de/10010765258

Nonrecourse financing and securitization

Kobayashi, Mami; Osano, Hiroshi - In: Journal of Financial Intermediation 21 (2012) 4, pp. 659-693

We consider the role of the nonrecourse financing of securitization by a financial institution (FI). Our model suggests that even though the FI has the opportunity to provide liquidity support afterward, it is optimal for the FI to use the nonrecourse financing of securitization initially,...

Persistent link: https://www.econbiz.de/10010765478