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An Anatomy of Corporate Bond Markets; Growing Pains and Knowledge Gains

Luengnaruemitchai, Pipat; Ong, Li L. - International Monetary Fund (IMF) - 2005

The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets …. We examine the requirements for local corporate bond market development, and compare and contrast experiences across both …

Persistent link: https://www.econbiz.de/10005264116

International Capital Crunches; The Time-Varying Role of Informational Asymmetries

Mody, Ashoka; Taylor, Mark P. - International Monetary Fund (IMF) - 2002

We examine the determinants of capital flows to four developing countries during the 1990s using an explicitly disequilibrium econometric framework in which the supply and demand for capital are not necessarily equal and the actual amount of the flow is determined by the ‘short side’ of the...

Persistent link: https://www.econbiz.de/10005825608

Financial Stress, Downturns, and Recoveries

Lall, Subir; Cardarelli, Roberto; Elekdag, Selim - International Monetary Fund (IMF) - 2009

This paper examines why some financial stress episodes lead to economic downturns. The paper identifies episodes of financial turmoil using a financial stress index (FSI), and proposes an analytical framework to assess the impact of financial stress-in particular banking distress-on the real...

Persistent link: https://www.econbiz.de/10004999977

Konstruktion einer Anleihe mit hypothekarischer Besicherung

Alram, Johannes - Frankfurt School of Finance and Management - 2009

This work describes the legal structuring of a mortgage covered bond in accordance with the regulations of paragraphs … rights of the bond holders according to the regulations of the German Statue Governing Common Rights of Owners of Debt … Securities (Schuldverschreibungsgesetz). Furthermore, the work describes how the bond creditors shall have preferences of the …

Persistent link: https://www.econbiz.de/10005026984

Governing structural change and externalities in agriculture: toward a normative institutional economics of rural development

Petrick, Martin - Leibniz-Institut für Agrarentwicklung in … - 2004

The paper aims at a conceptual contribution to the normative economic analysis of rural de-velopment (RD) policies. RD is regarded as a problem of interaction between individuals; (lacking) structural change or the (missing) integration of externalities are therefore recon-structed as...

Persistent link: https://www.econbiz.de/10008526818

On the Estimation of Term Structure Models and An Application to the United States

International Monetary Fund (IMF); International … - 2010

structure of Treasury bond yields for the United States with pre-crisis data. This paper uses a software developed by Fund staff …

Persistent link: https://www.econbiz.de/10008727797

Can Covered Bonds Resuscitate Residential Mortgage Finance in the United States?

Surti, Jay - International Monetary Fund (IMF) - 2010

This paper considers the case for mortgage covered bonds as an alternative to the originate-to-distribute mortgage funding model. It argues that the economic incentives provided to market participants under the covered bonds model are less susceptible to moral hazard even while retaining the key...

Persistent link: https://www.econbiz.de/10008777017

Financial innovation, the Discovery of Risk, and the U.S. Credit Crisis

Mendoza, Enrique G.; Boz, Emine - International Monetary Fund (IMF) - 2010

Uncertainty about the riskiness of new financial products was an important factor behind the U.S. credit crisis. We show that a boom-bust cycle in debt, asset prices and consumption characterizes the equilibrium dynamics of a model with a collateral constraint in which agents learn "by...

Persistent link: https://www.econbiz.de/10008560424

Becoming Slimmer: Why Europe Needs to Cut Debt and Reduce Leverage

Gros, Daniel - In: CESifo Forum 14 (2013) 3, pp. 17-24

Persistent link: https://www.econbiz.de/10011148837

A critique of emergency management policy: recommendations to reduce disaster vulnerability

McEntire, David A. - In: International Journal of Public Policy 3 (2008) 5/6, pp. 302-312

profession in the USA. This paper evaluates the founding principles upon which this profession was based in the 1980s. It then …

Persistent link: https://www.econbiz.de/10010670257

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