Download or read book Aggregate Bankruptcy Rates and the Macroeconomic Environment written by Nico Dewaelheyns and published by . This book was released on 2015 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent empirical research has stressed the importance of economy wide factors in the assessment of default risk, for instance for bond portfolios or portfolios of bank loans. Macroeconomic risk is essentially systematic, as it is difficult to reduce through diversification. Adequate forecasts of the links between macroeconomic factors and default risk, often defined as aggregate credit risk, are therefore important in a large number of risk management applications. This paper considers eleven alternative ways to model the aggregate bankruptcy rate, which is a proxy for aggregate credit risk, on Belgian data for the period 1986-2002. Based on these models, forecasts of the bankruptcy rates for 2003-2006 are made and compared. Four or five-variable Almon lag models result in the best in-sample fit and have the best forecast performance, but much more straightforward alternatives - such as an ARMA model or a one-variable model based on real GDP growth - do almost equally well. Four or five-variable vector error correction models are shown to have good in-sample fit, but very poor out-of-sample forecasting power. Overall we find that the prediction power of simple models is hard to beat.
Download or read book Aggregate Bankruptcy Rates and the Macroeconomic Environment written by Nico Dewaelheyns and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bankruptcy Around the World written by Stijn Claessens and published by World Bank Publications. This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Insolvency Prospects Among Small and Medium Sized Enterprises in Advanced Economies written by Mr.Federico J Diez and published by International Monetary Fund. This book was released on 2021-04-02 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book Financial Conditions and Macroeconomic Performance written by Steven M. Fazzari and published by Routledge. This book was released on 2015-06-05 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of papers on financial instability and its impact on macroeconomic performance honours Hyman P. Minsky and his lifelong work. It is based on a conference at Washington University, St. Louis, in 1990 and includes among the authors Benjamin M. Friedman, Charles P. Kindleberger, Jan Kregel and Steven Fazzari. These papers consider Minsky's definitive analysis that yields such a clear and disturbing sequence of financial events: booms, government intervention to prevent debt contraction and new booms that cause a progressive buildup of new debt, eventually leaving the economy much more fragile financially.
Download or read book QCA with R written by Adrian Duşa and published by Springer. This book was released on 2018-06-15 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a comprehensive guide to qualitative comparative analysis (QCA) using R. Using Boolean algebra to implement principles of comparison used by scholars engaged in the qualitative study of macro social phenomena, QCA acts as a bridge between the quantitative and the qualitative traditions. The QCA package for R, created by the author, facilitates QCA within a graphical user interface. This book provides the most current information on the latest version of the QCA package, which combines written commands with a cross-platform interface. Beginning with a brief introduction to the concept of QCA, this book moves from theory to calibration, from analysis to factorization, and hits on all the key areas of QCA in between. Chapters one through three are introductory, familiarizing the reader with R, the QCA package, and elementary set theory. The next few chapters introduce important applications of the package beginning with calibration, analysis of necessity, analysis of sufficiency, parameters of fit, negation and factorization, and the construction of Venn diagrams. The book concludes with extensions to the classical package, including temporal applications and panel data. Providing a practical introduction to an increasingly important research tool for the social sciences, this book will be indispensable for students, scholars, and practitioners interested in conducting qualitative research in political science, sociology, business and management, and evaluation studies.
Download or read book Jacaranda Key Concepts in VCE Economics 2 Units 3 and 4 11e learnON and Print written by Richard Morris and published by John Wiley & Sons. This book was released on 2023-01-04 with total page 595 pages. Available in PDF, EPUB and Kindle. Book excerpt: This combined print and digital title provides 100% coverage of the VCE Study Design for Economics. The textbook comes with a complimentary activation code for learnON, the powerful digital learning platform making learning personalised and visible for both students and teachers. Students can start preparing from lesson one, with past VCAA exam questions embedded in every lesson. Practice, customisable SACs available for all Units to build student competence and confidence.
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book The Increase in Personal Bankruptcy and the Crisis in Consumer Credit written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Administrative Oversight and the Courts and published by . This book was released on 1997 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of Commercial Bank Interest Margins and Profitability written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1998 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: March 1998 Differences in interest margins reflect differences in bank characteristics, macroeconomic conditions, existing financial structure and taxation, regulation, and other institutional factors. Using bank data for 80 countries for 1988-95, Demirgüç-Kunt and Huizinga show that differences in interest margins and bank profitability reflect various determinants: * Bank characteristics. * Macroeconomic conditions. * Explicit and implicit bank taxes. * Regulation of deposit insurance. * General financial structure. * Several underlying legal and institutional indicators. Controlling for differences in bank activity, leverage, and the macroeconomic environment, they find (among other things) that: * Banks in countries with a more competitive banking sector-where banking assets constitute a larger share of GDP-have smaller margins and are less profitable. The bank concentration ratio also affects bank profitability; larger banks tend to have higher margins. * Well-capitalized banks have higher net interest margins and are more profitable. This is consistent with the fact that banks with higher capital ratios have a lower cost of funding because of lower prospective bankruptcy costs. * Differences in a bank's activity mix affect spread and profitability. Banks with relatively high noninterest-earning assets are less profitable. Also, banks that rely largely on deposits for their funding are less profitable, as deposits require more branching and other expenses. Similarly, variations in overhead and other operating costs are reflected in variations in bank interest margins, as banks pass their operating costs (including the corporate tax burden) on to their depositors and lenders. * In developing countries foreign banks have greater margins and profits than domestic banks. In industrial countries, the opposite is true. * Macroeconomic factors also explain variation in interest margins. Inflation is associated with higher realized interest margins and greater profitability. Inflation brings higher costs-more transactions and generally more extensive branch networks-and also more income from bank float. Bank income increases more with inflation than bank costs do. * There is evidence that the corporate tax burden is fully passed on to bank customers in poor and rich countries alike. * Legal and institutional differences matter. Indicators of better contract enforcement, efficiency in the legal system, and lack of corruption are associated with lower realized interest margins and lower profitability. This paper-a product of the Development Research Group-is part of a larger effort in the group to study bank efficiency.
Download or read book Asymmetric Information Corporate Finance and Investment written by R. Glenn Hubbard and published by University of Chicago Press. This book was released on 2009-05-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.
Download or read book Emergent Macroeconomics written by Domenico Gatti and published by Springer Science & Business Media. This book was released on 2008-12-05 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This valuable book contributes substantively to the current state-of-the-art of macroeconomics. It provides a method for building models in which business cycles and economic growth emerge from the interactions of a large number of heterogeneous agents. Drawing from recent advances in agent-based computational modeling, the authors show how insights from dispersed fields can be fruitfully combined to improve our understanding of macroeconomic dynamics.
Download or read book Dynamic Models and Structural Estimation in Corporate Finance written by Ilya A. Strebulaev and published by Now Pub. This book was released on 2012-10-02 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goals of this monograph are to explain the models and techniques and make it more accessible, introduce the main strands of this literature, and explain how dynamic models can be taken to the data and estimated, providing a guide to 3 methodologies: generalized method of moments, simulated method of moments, and maximum simulated likelihood.
Download or read book Economic Analyses of Financial Crises written by Amnon Levy-Livermore and published by Routledge. This book was released on 2019-01-22 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published in 1995, this set of 13 essays on the causes and implications of financial problems in three different economic organizations - corporate, semi-co-operative and non-co-operative farming communities and sovereign states. Areas covered include insolvency and bankruptcy, and risk-sharing/spreading behaviour.
Download or read book Economics from a Global Perspective written by Alan Glanville and published by Glanville Books Ltd. This book was released on 2011-03-01 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: Normal 0 0 1 198 1134 9 2 1392 11.1539 1280x1024 0 0 0 Economics from a Global Perspective was the first textbook on IB Diploma economics in the market (originally launched in 1995) helping define the syllabus in terms of breadth and depth for teachers, and constituting the main reference source for students. Over 50,000 copies have been sold to date. With Forewords by Gareth Rees, Manuel Fernandez Canque & Andrew Maclehose. Features of the Third Edition l Covers the entire IB Diploma syllabus – for exams in 2013 onward l Each topic covered in the appropriate breadth, depth & sequence l Learning Outcomes listed for each sub-section, with corresponding exercises & multiple choice questions l International perspective throughout l Treats world poverty and development in depth l Numerous case studies, readings & profiles l Higher Level material colour coded l Supported by two student workbooks (Multiple Choice Questions for Economics and Data Response Questions for Economics) The text is thorough and authoritative whilst maintaining a student friendly approach. The clarity of expression is a significant feature, recognising that IB students have many demands upon their time and that many are also studying in a foreign language. Economics from a Global Perspective is written to give the student a clear understanding and a real enjoyment of economics. Alan Glanville has 32 years experience as an IB teacher, examiner and author. Jacob Glanville has 20 years experience as a professional economist.
Download or read book Aggregate Uncertainty and the Supply of Credit written by Mr.Fabian Valencia and published by International Monetary Fund. This book was released on 2013-12-02 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent studies show that uncertainty shocks have quantitatively important effects on the real economy. This paper examines one particular channel at work: the supply of credit. It presents a model in which a bank, even if managed by risk-neutral shareholders and subject to limited liability, can exhibit self-insurance, and thus loan supply contracts when uncertainty increases. This prediction is tested with the universe of U.S. commercial banks over the period 1984-2010. Identification of credit supply is achieved by looking at the differential response of banks according to their level of capitalization. Consistent with the theoretical predictions, increases in uncertainty reduce the supply of credit, more so for banks with lower levels of capitalization. These results are weaker for large banks, and are robust to controlling for the lending and capital channels of monetary policy, to different measures of uncertainty, and to breaking the dataset in subsamples. Quantitatively, uncertainty shocks are almost as important as monetary policy ones with regards to the effects on the supply of credit.
