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Release of the Kraken: A novel money multiplier equation's debut in 21st century banking
Hanley, Brian P. - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-3, pp. 1-25
Historically, the banking multiplier has been in a range of 4 to 100, with 25% to 1% reserve ratios at most layers of the banking system encompassing the majority of its range in recent centuries. Here it is shown that multipliers over 1 000 can occur from a new mechanism in banking. This new...
Persistent link: https://www.econbiz.de/10010307970
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Quantifying correlation uncertainty risk in credit derivatives pricing
Turfus, Colin - In: International Journal of Financial Studies 6 (2018) 2, pp. 1-20
We propose a simple but practical methodology for the quantification of correlation risk in the context of credit derivatives pricing and credit valuation adjustment (CVA), where the correlation between rates and credit is often uncertain or unmodelled. We take the rates model to be Hull-White...
Persistent link: https://www.econbiz.de/10011996119
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Assessing contingent convertible bonds for bank recapitalization in Nigeria
Katata, Kabir - In: CBN Journal of Applied Statistics 10 (2019) 1, pp. 119-153
can reduce the possibility of a bailout with public funds and lessen regulatory actions, if properly implemented, to boost …
Persistent link: https://www.econbiz.de/10012229205
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Italian bank crisis: Flexible application of BRRD rules, or a bailout in disguise?
Famfollet, Jan; Sankotová, Eliška - In: Review of Economic Perspectives 20 (2020) 2, pp. 109-135
The economic and financial crisis of the year 2008 highlighted the need for banking sector regulation via the creation of the banking union. The Bank Recovery and Resolution Directive (BRRD) represents an important milestone in the formation of the banking union. It is supposed inter alia to...
Persistent link: https://www.econbiz.de/10012384141
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CEO overconfidence and shadow-banking life insurer performance under government purchases of distressed assets
Chen, Shi; Lin, Jyh-horng; Yao, Wenyu; Huang, Fu-Wei - In: Risks 7 (2019) 1, pp. 1-25
There is an increasing influence of machine learning in business applications, with many solutions already implemented and many more being explored. Since the global financial crisis, risk management in banks has gained more prominence, and there has been a constant focus around how risks are...
Persistent link: https://www.econbiz.de/10013200446
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Eigentum und Haftung zusammenbringen
Rocholl, Jörg - In: Vierteljahrshefte zur Wirtschaftsforschung 82 (2013) 2, pp. 149-156
Das Ziel der Einheit von Eigentum und Haftung, dem bei der Einführung des Euro unter anderem durch das No-Bailout …-Prinzip Rechnung getragen wurde, hat sich während der Finanzkrise nicht erfüllt. Viel zu häufig ist Bail-out an die Stelle von Bail …The goal of unifying ownership and liability was addressed by the no-bailout principle as part of the introduction of …
Persistent link: https://www.econbiz.de/10010464606
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The profitability of following analyst recommendations on the Polish stock market
Zaremba, Adam; Konieczka, Przemysław - In: e-Finanse: Financial Internet Quarterly 11 (2015) 1, pp. 22-31
The profitability of analysts' recommendations is documented in numerous studies from all over the world. However, the evidence from the Polish market is relatively modest. The primary aim of this study is to fill this gap. The paper contributes to the economic literature in four ways. First, it...
Persistent link: https://www.econbiz.de/10011551443
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Economic growth in oil-exporting countries: Do stock market and banking sector development matter? Evidence from Nigeria
Nwani, Chinazaekpere; Orie, Jacob Bassey - In: Cogent Economics & Finance 4 (2016) 1, pp. 1-11
This study empirically examines the independent effects of stock market and banking sector development on economic growth in Nigeria over the period 1981-2014 using the autoregressive distributed lag (ARDL) approach to co-integration analysis. Controlling for the possible effects of crude oil...
Persistent link: https://www.econbiz.de/10011559207
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The solar and lunar divide and the impact on Taiwan's stock returns
Yang, Der-Yuan; Lee, Chen Hsun - In: Cogent Economics & Finance 4 (2016) 1, pp. 1-8
Under the influence of the western world, the solar New Year celebration seems to have fascinated everyone in Taiwan with the lunar New Year festivity showing much less vigor. This paper examines the impact of the solar and lunar New Years on the stock market of Taiwan, showing that the lunar...
Persistent link: https://www.econbiz.de/10011559217
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A CasP Model of the Stock Market
Bichler, Shimshon; Nitzan, Jonathan - In: Real-World Economics Review (2016) 77, pp. 119-154
Most explanations of stock market booms and busts are based on contrasting the underlying 'fundamental' logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical...
Persistent link: https://www.econbiz.de/10011644656