Results 81 to 90 of about 1,860 (237)
Basel III countercyclical capital rules: implications for South Africa
South African Journal of Economic and Management Sciences, 2012 The financial crisis has been blamed on many entities, institutions and individuals as well as the Basel II accord which had just begun to be implemented globally when the crisis erupted. The criticisms resulted in the construction of Basel III, a series
Gary Wayne van Vuuren
doaj +1 more source
Learning in the Limit: Income Inference from Credit Extensions
The Journal of Finance, EarlyView.ABSTRACT Combining a randomized controlled trial with administrative and survey data, this paper shows that credit limit extensions significantly increase total spending and income expectations. By controlling for changes in personal income expectations, the spending response to credit limit extensions weakens by approximately 30%.
XIAO YIN
wiley +1 more source
Cash Heterogeneity and the Payout Channel of Monetary Policy
The Journal of Finance, EarlyView.ABSTRACT This paper provides novel empirical evidence that cash‐rich firms have higher equity payouts and higher stock prices in response to expansionary monetary policy surprises. Stock prices rise despite weak cash‐flow, investment, and credit responses to monetary policy.
ALTAN PAZARBAŞI
wiley +1 more source
Procyclicality of Fiscal Policy in Emerging Countries: the Cycle is the Trend [PDF]
This paper uses the Aguiar and Gopinath (2007) methodology in order to estimate whether “the cycle is the trend” in 23 emerging markets and 22 OECD economies.
Michel Strawczynski, Joseph Zeira
core
Is Social Spending Procyclical?
IMF Working Papers, 2010 This paper studies the cyclical behavior of public spending on health and education in 150 countries during 1987 - 2007. It finds that spending on education and health is procyclical in developing countries and acyclical in developed countries. In addition, education and health expenditures follow an asymmetric pattern in developing countries; they are
Sanjeev Gupta +2 more
openaire +2 more sources
The influence of negative interest rates on European life insurance companies
Journal of Risk and Insurance, EarlyView.Abstract Between 2016 and 2022, life insurers in several European countries experienced negative long‐term interest rates, which put pressure on their business models. The aim of this paper is to empirically investigate the impact of negative interest rates on the stock performance of life insurers.
Nicolaus Grochola
wiley +1 more source
Procyclicality in tradeable credit risk: Consequences for South Africa
South African Journal of Economic and Management Sciences, 2018 Background: Tradeable credit assets are vulnerable to two varieties of credit risk: default risk (which manifests itself as a binary outcome) and spread risk (which arises as spreads change continuously).
Dirk Visser, Gary W. van Vuuren
doaj +1 more source
Promoting Counter-Cyclical Fiscal Policy: Fiscal Rules Versus Institutions. [PDF]
Comp Econ Stud, 2022 Keita K, Turcu C.
europepmc +1 more source
Metroeconomica, EarlyView.ABSTRACT The paper examines the financial balances of the US economy. Government is the main borrower and households and the foreign sector the main lenders. Business net lending is minimal. The balances and their underlying transactions contradict the loanable funds theory and its “global savings glut” variation.
Michalis Nikiforos, Lance Taylor
wiley +1 more source
The Volatility Costs of Procyclical Lending Standards: An Assessment Using a DSGE Model [PDF]
The ongoing financial turmoil has triggered a lively debate on ways of containing systemic risk and lessening the likelihood of future boom-and-bust episodes in credit markets.
Silvia Sgherri, Bertrand Gruss
core