Download or read book The Redistributive Effects of Financial Deregulation written by Mr.Anton Korinek and published by International Monetary Fund. This book was released on 2013-12-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation center stage. We develop a model in which the financial sector benefits from risk-taking by earning greater expected returns. However, risktaking also increases the incidence of large losses that lead to credit crunches and impose negative externalities on the real economy. We describe a Pareto frontier along which different levels of risktaking map into different levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We also show that financial innovation, asymmetric compensation schemes, concentration in the banking system, and bailout expectations enable or encourage greater risk-taking and allocate greater surplus to the financial sector at the expense of the rest of the economy.
Download or read book The Effects of Financial Deregulation on Consumption written by Tamim A. Bayoumi and published by . This book was released on 1989 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Financial Deregulation on Consumption written by Tamim Bayoumi and published by . This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether financial deregulation in the 1980s has reduced the importance of liquidity constraints in consumption patterns. Data for six industrialized countries are used to estimate a simple model incorporating liquidity constraints and forward looking behavior. It is concluded that the importance of liquidity constraints fell between the 1970s and the 1980s. This implies that forward looking models of consumer behavior fit the data better in the recent period.
Download or read book The Effects of Financial Deregulationon Consumption written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-10-26 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether financial deregulation in the 1980s has reduced the importance of liquidity constraints in consumption patterns. Data for six industrialized countries are used to estimate a simple model incorporating liquidity constraints and forward looking behavior. It is concluded that the importance of liquidity constraints fell between the 1970s and the 1980s. This implies that forward looking models of consumer behavior fit the data better in the recent period.
Download or read book The Effects of Financial Deregulation on Irish Consumption Behaviour written by Sarah O'Donovan and published by . This book was released on 2009 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Deregulation and Integration in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.
Download or read book Consumption Forward Looking Behaviour and Financial Deregulation written by Julia Darby and published by . This book was released on 1994 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Deregulation and Consumption written by Olli-Pekka Lehmussaari and published by . This book was released on 1989 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumption credit Crunches and Financial Deregulation written by Andrew Scott (Economista.) and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Liberalization and Investment written by Kanhaya Gupta and published by Routledge. This book was released on 1996-03-14 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens to savings, investment, income and growth if governments allow interest rates to be determined by market forces? This is the first book to answer this by examining financial deregulation in a coherent and complete manner.
Download or read book The impact of deregulation on the consumer financial services industry written by Oliver Konstantin Schickler and published by . This book was released on 1985 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book Financial Deregulation and Household Indebtedness written by Leslie Hull and published by . This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low saving rates and high indebtedness are characteristics of the household sector in many developed countries. As in other countries, financial deregulation has contributed to increased household indebtedness in New Zealand. This paper discusses several aspects of the linkages between deregulation and household consumption decisions. It begins with an overview of the financial sector reforms and a discussion of how the reforms affected households' access to credit. Secondly, the effect of a change in house prices on consumption is measured. Given that New Zealanders hold about 80 per cent of their wealth in housing, changes in house prices have the potential to materially affect household consumption decisions. Also, there is evidence that the effect of changes in housing wealth on consumption is stronger in the period after deregulation. Thirdly, the role of the household sector in the current account is discussed as banks have increasingly been borrowing overseas to fund household borrowing. The results indicate that the household sector's net overseas surplus declined by at least $7 billion over the last decade. Finally, the ability of the household sector to weather an economic downturn is considered. Highly leveraged households are more vulnerable in times of stress, and their debt servicing capabilities might deteriorate when interest rates rise. Also, deterioration in household balance sheets could negatively impact the financial sector.
Download or read book Financial Deregulation and Monetary Control written by Thomas F. Cargill and published by Hoover Institution Press Publi. This book was released on 1982 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cargill and Garcia examine the strengths and weaknesses of the Depository Institutions Reregulation and Monetary Control Act of 1980.
Download or read book Financial Innovation and Consumption in the United Kingdom written by Tamim A. Bayoumi and published by International Monetary Fund. This book was released on 1990-10 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last decade has seen widespread deregulation of domestic financial markets in the United Kingdom. This paper uses regional household data to investigate the connection between consumption and financial innovation. It is concluded that deregulation has led to a significant increase in the forward looking nature of consumption.
Download or read book The Demise of Finance dominated Capitalism written by Eckhard Hein and published by Edward Elgar Publishing. This book was released on 2015-04-30 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of different theoretical perspectives on the long-run transition towards finance-dominated capitalism, on the implications for macroeconomic and financial stability, and ultimately on the recent global financial and econo
Download or read book Employment Protection Deregulation and Labor Shares in Advanced Economies written by Gabriele Ciminelli and published by International Monetary Fund. This book was released on 2018-08-16 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor market deregulation, intended to boost productivity and employment, is one plausible, yet little studied, driver of the decline in labor shares that took place across most advanced economies since the early 1990s. This paper assesses the impact of job protection deregulation in a sample of 26 advanced economies over the period 1970-2015, using a newly constructed dataset of major reforms to employment protection legislation for regular contracts. We apply the local projection method to estimate the dynamic response of the labor share to our reform events at both the country and the country-industry levels. For the latter, we employ a differences-in-differences identification strategy using two identifying assumptions grounded in theory—namely that job protection deregulation should have larger negative effects in industries characterized by (i) a higher “natural” propensity to adjust the workforce, and (ii) a lower elasticity of substitution between capital and labor. We find a statistically significant, economically large and robust negative effect of deregulation on the labor share. In particular, illustrative back-of-the-envelope calculations suggest that job protection deregulation may have contributed about 15 percent to the average labor share decline in advanced economies. Together with existing evidence regarding the macroeconomic gains from job protection and other labor market reforms, our results also point to the need for policymakers to address efficiency-equity trade-offs when designing such reforms.
