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One approach to oil markets is to treat oil as an asset, besides its role as a commodity. Speculative and nonspeculative activity by investors in the derivatives markets could be responsible for a sizable increase in oil prices. This paper recognizes both the consumption and investment aspects...
Persistent link: https://www.econbiz.de/10005605320
We measure bank vulnerability in emerging markets using the distance-to-default, a risk-neutral indicator based on Merton's (1974) structural model of credit risk. The indicator is estimated using equity prices and balance-sheet data for 38 banks in 14 emerging market countries. Results show it...
Persistent link: https://www.econbiz.de/10005826670
This paper discusses the estimation of models of the term structure of interest rates. After reviewing the term structure models, specifically the Nelson-Siegel Model and Affine Term- Structure Model, this paper estimates the terms structure of Treasury bond yields for the United States with...
Persistent link: https://www.econbiz.de/10008727797
This paper develops a simple model of foreign debt portfolio management. The model suggests that, under mild conditions, the currency composition of a country's foreign debt portfolio is responsive to exchange rate movements. Empirical evidence is provided for a panel of 14 emerging economies in...
Persistent link: https://www.econbiz.de/10005599482
This paper analyzes the evolution of interregional income inequality during transition in Russia. The transition matrix approach reveals that between 1991 and 1997 income mobility tended toward a highly uneven long-term distribution with the majority of regions at low income levels and a...
Persistent link: https://www.econbiz.de/10005605183
The Allan factor (AF) is a statistic widely used to assess if the rate of occurrences of an event tends to cluster and show persistence in a range of space and/or time scales. For a homogeneous Poisson process, the relationship between AF and the space/time is expected to be constant, thus...
Persistent link: https://www.econbiz.de/10010872678
-stakes appointments are uncovered. …
Persistent link: https://www.econbiz.de/10011135456
Children in the child welfare system have a high prevalence of health problems, making pediatric health service use critical. Latino children represent a growing proportion of the child welfare system, and are at increased risk for health problems. Many have argued that Latino caregivers can...
Persistent link: https://www.econbiz.de/10011264597
study of other aspects of appointments. …
Persistent link: https://www.econbiz.de/10010777942
earnings management and chief executive officer compensation following these board appointments. <i>This paper was accepted by …
Persistent link: https://www.econbiz.de/10010990539