Narrow search
Showing 1 - 10 of 3,459
Cover Image
Finance and productivity : a literature review
Heil, Mark T. - 2017
This paper surveys a broad range of studies and highlights the main findings of the empirical literature regarding business finance and productivity. Numerous studies analyse the productivity effects of financial development and frictions. The results suggest: 1) Financial development likely has...
Persistent link: https://www.econbiz.de/10011700187
Cover Image
Financial Sector Pro-Cyclicality : Lessons from the Crisis
Panetta, Fabio; Angelini, Paolo; Albertazzi, Ugo; … - 2011
We analyze the main forces affecting financial system pro-cyclicality (the fact that developments in the financial sector can amplify business cycle fluctuations). We first review some major structural developments in financial markets that may influence pro-cyclicality and that have been...
Persistent link: https://www.econbiz.de/10014203653
Cover Image
Russia's Financial Markets and Financial Institutions in 2014
Abramov, Alexander E. - 2015
In 2014, the domestic money market saw the onset of a new wave of crisis, manifesting itself in capital outflow, a world's record plunge of the Russian stock indices, the ruble's devaluation, the surge in the key interest rate and interest rates in the interbank lending market. It is external...
Persistent link: https://www.econbiz.de/10013027557
Cover Image
Financial Deepening vs Unemployment. A Panel Data Analysis for EU
Georgiou, Miltiades N. - 2013
Present paper shows that credit regarding job creation is ineffective in the 2000s, while it was effective in 1980s and 1990s. This paper attempts to support the view of (Bouis et al., 2013), that recently growth is sluggish, in spite of the massive monetary stimulus. Further, it will support...
Persistent link: https://www.econbiz.de/10013073374
Cover Image
Financial Deepening and Unemployment
Georgiou, Miltiades N. - 2009
In this paper is shown that financial deepening is good for job creation up to a critical point, beyond which unemployment starts rising. The reason can be the heavy debt the private sector is bearing, so that business sector becomes unable to pay off debts, and thus companies go bankrupt...
Persistent link: https://www.econbiz.de/10013156070
Cover Image
The Reduction of Systemic Risk in the United States Financial System
Scott, Hal S. - 2010
The central problem for financial regulation is reducing systemic risk. Systemic risk is the risk that the failure of one significant institution can cause or significantly contribute to the failure of other significant institutions. This paper addresses the five most important policies for...
Persistent link: https://www.econbiz.de/10013143703
Cover Image
A simple method for extracting the probability of default from American put option prices
Chang, Bo Young; Orosi, Greg - 2020 - Last updated: April 20, 2020
In this paper, we present a novel method to extract the risk-neutral probability of default of a firm from American put option prices. Building on the idea of a default corridor proposed in Carr and Wu (2011), we derive a parsimonious closed-form formula for American put option prices from which...
Persistent link: https://www.econbiz.de/10012216226
Cover Image
Liquidity and Ambiguity: Banks or Asset Markets?
Eichberger, Jürgen; Spanjers, Willy - 2007
consumers face uncertain liquidity needs. The ambiguity the consumers experience is modeled by the degree of confidence in their … additive beliefs. We analyze the optimal liquidity allocation and two institutional settings for implementing this allocation … with high liquidity needs. With increasing ambiguity this preference will be reversed: the asset market is preferred, since …
Persistent link: https://www.econbiz.de/10011422151
Cover Image
The impact of government debt supply on bond market liquidity : an empirical analysis of the Canadian market
Gao, Jeffrey; Jin, Jianjian; Thompson, Jacob - 2018
consistent with the interpretation that risk-averse dealers tend to provide less liquidity to the market when facing increased … the impact of debt supply on market liquidity. …
Persistent link: https://www.econbiz.de/10011878695
Cover Image
Liquidity and ambiguity : banks or asset markets?
Eichberger, Jürgen; Spanjers, Willy - 2007 - This version June 2007
consumers face uncertain liquidity needs. The ambiguity the consumers experience is modeled by the degree of confidence in their … additive beliefs. We analyze the optimal liquidity allocation and two institutional settings for implementing this allocation … with high liquidity needs. With increasing ambiguity this preference will be reversed: the asset market is preferred, since …
Persistent link: https://www.econbiz.de/10003592776