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We model banks’ loan losses with a panel of European countries for the period 1982–2012 using three country-specific macro variables: output growth shocks, real interest rates, and a measure of excessive private sector indebtedness. We find that a drop in output has an intensified impact on...
Persistent link: https://www.econbiz.de/10011207863
In countries where the political-economy incentives that governments face do not foster prudent revenue management, national revenue funds (NRFs) should not be used to impose optimal expenditure paths. In such countries, NRFs should instead be used as policy tools for re-aligning the diverging...
Persistent link: https://www.econbiz.de/10005836537
This article seeks to outline the far-reaching transformation that the Basque economy has undergone in the last 30 years, in the context of three economic recessions. After briefly running through the relevant history, the article describes the situation at the outset of the period examined,...
Persistent link: https://www.econbiz.de/10008871246
stagnant financial profits, falling mortgage debt and rising public debt. The reliance of households on the formal financial … state debt and to financial regulation. …
Persistent link: https://www.econbiz.de/10011882741
stagnant financial profits, falling mortgage debt and rising public debt. The reliance of households on the formal financial … state debt and to financial regulation. …
Persistent link: https://www.econbiz.de/10011763652
study. The study used Return on Asset (ROA) and Return on Equity (ROE) as performance proxies. In addition, debt equity … ratio (DER) and debt asset ratio (DAR) were used as capital structure proxies. The relationship between the performance and … significant relationship in almost all firms between return on equity and debt to equity. This justifies that a highly geared firm …
Persistent link: https://www.econbiz.de/10011209976
It is widely believed that seriously excess debt problems form a major cause of the 1997 Asian financial crisis. This … paper investigates empirically the role of the debt problems with respect to both the won/$US rate fluctuations and the won … the predictor of a likely crash in the won rate in late 1997. Excess debt is hence found to only constitute one of the …
Persistent link: https://www.econbiz.de/10014181602
and debt in funding such assets. In contrast, the balance sheet management of financial intermediaries reveals that it is …
Persistent link: https://www.econbiz.de/10010287144
This study aims to examine the effectiveness of the debt modification system (DMS) in Korea. We find that DMS does have … a positive effect in increasing the credit scores and annual income of DMS users. We also find that a debt management …-interest unsecured loans from banks. Therefore, DMS in Kores is still insufficient to support the return of debt-ridden consumers to …
Persistent link: https://www.econbiz.de/10014429285
We propose a model to show how the fee structure of listed Real Estate Investment Trusts (REITs) can increase instead of decrease Management Company opportunistic behaviors. Distinguishing between performance fees paid on the fund market value and management fees paid either on the Net Asset...
Persistent link: https://www.econbiz.de/10009142659