In dieser Arbeit werden die Auswirkungen von spekulativen Attacken auf die Stabilität von Zielzonensystemenn in unterschiedlichen Ansätzen analysiert. Außerdem wird die Wirksamkeit verschiedener Politikoptionen zur Verteidigung eines Systems von Währungsbändern vor solchen Attacken...

Since the start of the financial crisis, various forms of securitization have been criticized for causing the problems experienced. The amount of Asset Backed Commercial Paper outstanding fell drastically in the middle of 2007 drawing our attention to this market. Our study focuses on the use of...

The availability of a unique data set of financially distressed firms enabled this study to apply the dynamic capital structure adjustment model to a study of capital structure. In addition, the factors driving capital structure adjustment of financially distressed and of healthy firms were...

Emergence of crisis in financial markets, especially banks, have forced a change in approach to riskmanagement. It has become necessary to develop new or refine existing models of early bankruptcythreat warning, as well as establishing the potential impact of bank failures. One of the tools,...

This paper builds a general test of contagion in financial markets based on bivariate correlation analysis – a test that can be interpreted as an extension of the normal correlation theorem. Contagion is defined as a structural break in the data generating process of rates of return. Using a...

The paper measures the U.S. Farm Credit System’s technical efficiency from 2000 to 2009 using a stochastic frontier production function model with quarterly unbalanced panel data. The paper's results suggest that the FCS has not efficiently utilized their inputs. On an average, the system...

Kutatásunk eredményeként megállapítottuk, hogy a mezőgazdasági finanszírozás fontosabb csatornái a közvetlen banki finanszírozás és a közvetett banki finanszírozás. Ez utóbbinál a bank nem közvetlenül a termelőt, hanem egy köztes szervezetet, leggyakoribb esetben...

The role played by monetary policy in creating the conditions that culminated in the current crisis and the failure of the Fed’s efforts to end the credit freeze in 2008 are critical components of the analysis needed as a backdrop for reform. This paper argues that the link between excess...

We recently experienced a global financial crisis so severe that only massive rescue operations by governments around the world prevented a total financial market meltdown and perhaps another global Great Depression. One necessary precondition for the crisis was the perverse, bonus-driven...

This paper utilizes a sample of firms over the years 2000–2009 to test the effects of credit rating changes, the financial crisis, interest rates, and other variables on short-term, long-term, and total debt levels on the balance sheet. Each independent variable was created using a one year...