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Relative to the “global savings glut” (GSG) hypothesis, we present a more complete picture of how capital flows contributed to the financial crisis, drawing attention to the sizable inflows from European investors into U.S. private-label asset-backed securities (ABS), including...
Persistent link: https://www.econbiz.de/10011056342
crisis, policy responses to date and United Nations alternative proposals for ‘A Recovery for All.’ With a foreword by Sir …
Persistent link: https://www.econbiz.de/10010548026
The 21st century starts with vast inequalities for children in terms of income, access to food, water, health, education, housing, or employment for their families. Half of the world’s children are below the poverty line of $2 a day and suffer from multiple deprivations and violations to basic...
Persistent link: https://www.econbiz.de/10010555880
At this moment, the world is undergoing the worst economic crisis since the Great Depression of 1930s. It is not clear exactly which factors instigated the crisis, but there are many candidates; the formation of an asset bubble in the US, and its subsequent crash, continued excessive consumption...
Persistent link: https://www.econbiz.de/10004980010
We study the relative and absolute pricing of CMBX contracts (commercial real estate derivatives) during the recent … financial crisis. Using a structural CMBX pricing model, we find little systematic mispricing relative to REIT equity and … significant. In particular, the CMBX market temporarily overreacts to news announcements. We provide evidence that this temporary …
Persistent link: https://www.econbiz.de/10010576087
What was hiding behind the aggregate commercial bank loans through the end of 2008? We use balance sheet data for every insured U.S. commercial bank from 1999:Q1 to 2008:Q4 to construct credit expansion and credit contraction series and provide new evidence on changes in lending. Until 2008:Q3...
Persistent link: https://www.econbiz.de/10005019477
The Troubled Asset Relief Program (TARP), or the $700 billion bailout, has been the subject of much academic interest. Here the rigorous studies on the programs of this massive intervention into the financial sector are reviewed. While considerable work has been done on the bank bailouts in the...
Persistent link: https://www.econbiz.de/10010684108
This paper examines how financial reporting regulations affect, and respond to, macroeconomic cycles by exploring a positive framework in which regulators subject to political pressures respond to cyclical demands by borrowers and lenders. We establish that, as economic conditions initially...
Persistent link: https://www.econbiz.de/10010572422
“Most people would say that Europe is still sort of coming out of the financial crisis that we had 5 years ago, which was probably the worst since the Great Depression of 1930s. Now just to keep things in context, at the time people were saying that it was going to be worse than the Great...
Persistent link: https://www.econbiz.de/10010901997
‘New’ long run data regarding Norway, the Netherlands, United Kingdom and USA has been collected and will be graphically, statistically and econometrically compiled and analyzed to prove that real house prices in the long run are constant and mean reverting. Co-integration of nominal house...
Persistent link: https://www.econbiz.de/10005789417