Results 11 to 20 of about 2,455,955 (25)

A Stochastic Control Approach to Public Debt Management [PDF]

arXiv, 2021
We discuss a class of debt management problems in a stochastic environment model. We propose a model for the debt-to-GDP (Gross Domestic Product) ratio where the government interventions via fiscal policies affect the public debt and the GDP growth rate at the same time. We allow for stochastic interest rate and possible correlation with the GDP growth
arxiv  

A note on the policy implications of the fiscal multiplier [PDF]

arXiv, 2013
We present an elementary analysis of the dynamical aspects of the GDP / government surplus multiplier with relevance to the assessment of a country's debt repayment policy. We show the (at first) counter intuitive result that in order to reduce the Debt/GDP ratio, countries with high Debt to GDP should go into further debt, as long as the Debt to GDP ...
arxiv  

Evaluation of equity-based debt obligations [PDF]

arXiv, 2019
We consider a class of participation rights, i.e. obligations issued by a company to investors who are interested in performance-based compensation. Albeit having desirable economic properties equity-based debt obligations (EbDO) pose challenges in accounting and contract pricing. We formulate and solve the associated mathematical problem in a discrete
arxiv  

On the Optimal Management of Public Debt: a Singular Stochastic Control Problem [PDF]

arXiv, 2016
Consider the problem of a government that wants to reduce the debt-to-GDP (gross domestic product) ratio of a country. The government aims at choosing a debt reduction policy which minimises the total expected cost of having debt, plus the total expected cost of interventions on the debt ratio.
arxiv  

A Stochastic Delay Model for Pricing Debt and Equity: Numerical Techniques and Applications [PDF]

arXiv, 2013
In the accompanied paper [14], a delayed nonlinear model for pricing corporate liabilities was developed. Using self-financed strategy and duplication we were able to derive two Random Partial Differential Equations (RPDEs) describing the evolution of debt and equity values of the corporate in the last delay period interval.
arxiv  

EMU and ECB Conflicts [PDF]

arXiv, 2018
In dynamical framework the conflict between government and the central bank according to the exchange Rate of payment of fixed rates and fixed rates of fixed income (EMU) convergence criteria such that the public debt / GDP ratio The method consists of calculating private public debt management in a public debt management system purpose there is no ...
arxiv  

Dynamic loan portfolio management in a three time step model [PDF]

arXiv
This paper studies the bank dynamic decision problem in the intermediate time step for a discrete-time setup. We have considered a three-time-step model. Initially, the banks raise money through debt and equity and invest in different types of loans. It liquidates its assets and raises new funds at the intermediate-time step to meet the short-term debt
arxiv  

Pathwise Performance of Debt Based Policies for Wireless Networks with Hard Delay Constraints [PDF]

arXiv, 2013
Hou et al have introduced a framework to serve clients over wireless channels when there are hard deadline constraints along with a minimum delivery ratio for each client's flow. Policies based on "debt," called maximum debt first policies (MDF) were introduced, and shown to be throughput optimal.
arxiv  

Characterizing Public Debt Cycles: Don't Ignore the Impact of Financial Cycles [PDF]

arXiv
Based on the quarterly data from 26 advanced economies (AEs) and 18 emerging market economies (EMs) over the past two decades, this paper estimates the short- and medium-term impacts of financial cycles on the duration and amplitude of public debt cycles.
arxiv  

Capital Structure in U.S., a Quantile Regression Approach with Macroeconomic Impacts [PDF]

arXiv, 2018
The major perspective of this paper is to provide more evidence into the empirical determinants of capital structure adjustment in different macroeconomics states by focusing and discussing the relative importance of firm-specific and macroeconomic characteristics from an alternative scope in U.S.
arxiv