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1 - 10 van 24 voor aggregate liquidity
Microsoft Word - cpbdoc210.doc
... to obtain it, this may reveal the existence of an aggregate liquidity shortage. this may then cause other banks to start hoarding liquidity. procyclicality procyclicality refers to the feedback loop between the ... in liquid assets and free ride on the common liquidity pool. hence, even in the presence of an interbank market, there can be aggregate liquidity shortages. a related line of thought is ...
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dp209.indd
... aggregate liquidity available in the market. in times of large (aggregate) liquidity shocks, the price of liquidity will therefore rise rapidly, leading to high short-term interest rates. the high returns to liquidity in times of aggregate ...
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Flexibility, Dualism and the Great Recession
... bocconi) reforms and labour market outcomes january, aggregate effects of dual-track reforms some theory outline 1 the nature of reforms increasing flexibility 2 aggregate effects of dual-track reforms some ... what happens when a highly leveraged firm experiences a financial shock and liquidity is suddenly pulled back? the lack of liquidity can force firms to liquidate projects as well as jobs, thus ...
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analyzing labour supply elderly people life cycle approach pdf
... groups distinghuished in the model, we obtain an indication of the size of the aggregate economic impact. we find that acuarially unfair early retirement schemes substantially reduce the participation ... rates often retire at 62, the early entitlement age. some of these individuals are liquidity constrained and simply cannot afford to retire before the social security benefits become available. ...
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Athena
... demand side, most consumers behave as in life-cycle theory, but some consumers are liquidity constrained. in the last block, the public sector (government, social security and pensions), some ... long term elasticities for the industries of the rest category in relation to the aggregate share 2001 expenditure elasticity price elasticity agriculture food and drinks chemicals metals excluding motorcars ...
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Microsoft Word - discussion164.doc
... regulation has a significant effect on 4 demirguec-kunt and detragiache (2010) also calculate aggregate z-scores at the country level to try to capture the stability of the ... , supervisory control, and regu- lations on activities restrictions, private monitoring, market entry, and liquidity affect 'liquidity and market risk'. most importantly, however, our results also suggest that our measures of ...
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Microsoft Word - discussion145.doc
... health and trade sectors hardly differ from the aggregate female self-employment rate, so that these sectoral shifts would not explain the rising aggregate self-employment rate of women. 17 table ... , zoetermeer. evans, d. and b. jovanovic, 1989, an estimated model of entrepreneurial choice under liquidity constraints, journal of political economy, vol. 97, no. 4, pp. 808-827. 28 fairlie, ...
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doc211.pdf
... . investors can address moral hazard by appointing a delegated monitor. banks can aggregate the liquidity needs of firms and consumers. delegated monitors one line of thought in the ... banks' ability to provide liquidity insurance. a theory of financial intermediation as liquidity pools can also be based on firms' liquidity needs instead of consumer liquidity needs (holmstroem and tirole, 1998 ...
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dp174-flexible-retirement.pdf
... much heterogeneity among individuals. even if a pension scheme is actuarially neutral at the aggregate level say for the average individual then the pension scheme may still cause large ... may affect retire- ment behaviour through socio- and psychological mechanisms (section 4.2). finally, liquidity constrained and myopic individuals tend to retire whenever the opportunity exists, and early retirement ...
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dp175 systemic risk across sectors pdf
... few years. furthermore, cds spreads are sensitive to changes in perceived counterparty risk, and the liquidity of cds markets may be limited. this means that movements in cds spreads are not ... quantile regressions on weekly return data. each covar corresponds to the banks' contribution to the aggregate systemic risk. papers that apply evt and focus on extreme returns in stock market data ...
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