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borrowers - from corporations to sovereigns - these agencies add liquidity to markets that would otherwise be illiquid, promote … rating methodology and assess the ratings of these agencies in regards to Greece, France, and the USA. …
Persistent link: https://www.econbiz.de/10010888509
This paper contends that abundant liquidity in the economy might be an important determinant of market inefficiency … excess liquidity is a cause of market inefficiency, the latter is expected to come out essentially in restrictive monetary … environments. Consistent with this intuition, empirical tests here highlight that expected stock returns in the USA are driven by …
Persistent link: https://www.econbiz.de/10010669711
Economic theory suggests that in a competitive market, prices tend to converge. This article examines the prices of … that liquidity would play a prime role in pricing retail CDs. …
Persistent link: https://www.econbiz.de/10008539506
Economic theory suggests that in a competitive market, prices tend to converge. This article examines the prices of … that liquidity would play a prime role in pricing retail CDs. …
Persistent link: https://www.econbiz.de/10005751524
This article presents the US experience from periodical business failures and collapses of the financial markets. It could be a lesson for the Central and Eastern European countries on their economies during the post-transition era. International management is one of the strongest aspects of...
Persistent link: https://www.econbiz.de/10010670058
In this work, we use a time varying copula model to investigate the impact of the global financial crisis on dependence between US and each of six major stock markets and on risk management strategies. The model is implemented with an AR-GARCH-t for the marginal distribution and the extreme...
Persistent link: https://www.econbiz.de/10010816752
Deleveraging has two components--shrinking of balance sheets due to increased haircuts/shedding of assets, and the reduction in the interconnectedness of the financial system. We focus on the second aspect and show that post-Lehman there has been a significant decline in the interconnectedness...
Persistent link: https://www.econbiz.de/10010790392
development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and …
Persistent link: https://www.econbiz.de/10009151210
This paper discusses key findings of the assessment of Financial Sector Supervision and Regulation (FSSR) for Monaco. Since the 2002 Offshore Financial Center assessment, the Principality of Monaco has taken important steps to further strengthen an already comprehensive legal framework,...
Persistent link: https://www.econbiz.de/10011245014
South Africa has made substantial progress in addressing the recommendations of the Financial Sector Assessment Program and is continuing to build upon these accomplishments. The Financial Services Board and Department of Trade and Industry both are organizations with the legal authority to...
Persistent link: https://www.econbiz.de/10011245358