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1 - 10 van 21 voor liquidity shocks
doc211.pdf
... liquidity. consumers can use money market funds or a bond market to pool their liquidity needs. for this, they do not need banks. these pools of liquidity can provide partial insurance against liquidity shocks ...
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Microsoft Word - cpbdoc210.doc
... prices when liquidity shocks hit. fire sales are an equilibrium phenomenon, where the suppliers of liquidity recoup the opportunity costs of holding excess liquidity. lower market prices, ... argument. liquidity hoarding liquidity has features of a common good. indeed, creating liquidity may benefit other financial intermediaries. in bhattacharya and gale (1987) banks insure against liquidity shocks ...
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dp209.indd
... save some liquidity to protect itself against liquidity shocks. funds with low shocks will survive the crisis with excess liquidity, while those with higher shocks will go bankrupt. for small positive , a qualitatively similar outcome prevails, where in the crisis state liquidity ...
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Flexibility, Dualism and the Great Recession
... not adjust employment to transient shocks yet, 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 ... not adjust employment to transient shocks yet, 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 ...
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analyzing labour supply elderly people life cycle approach pdf
... discount 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. in ... status and wages are uncertain. individuals can save to insure themselves against health and wage shocks as well as for retirement, but cannot borrow against future labour, social security, and ...
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analysis individual accounts unemployment risk netherlands pdf
... the model in section 5 below. the 'more efficient liquidity insurance' argument remains however. below we consider the empirical relevance of liquidity constraints for the unemployed. specifically, we review the ... binding liquidity constraints. second, we want the model to be parsimonious but also realistic. to keep the results tractable we divide the lifecycle into only four phases, and shocks occur ...
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Microsoft Word - discussion164.doc
... 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 ... this effect can be positive or negative, depending on the correlation with foreign financial shocks. if the correlation is positive, globalization will decrease the financial soundness, but ...
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dp174-flexible-retirement.pdf
... -time consumption. flexible retirement opportunities thus serve as a hedge against wealth shocks, including pension wealth shocks. increasing ones labour supply at old age may be facilitated by ... 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 ...
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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 ... in (4.1). after correcting for this effect, the possibly larger amplification mechanisms on idiosyncratic shocks in the insurance sector compensate for the possibly larger common exposures in the construction ...
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L:\publicaties\...\cpbdoc15.wp [PFP#1210200691]
... 37 3.3 what triggers financial instability? 37 3.3.1 sources of shocks propagation of shocks impact of shocks 42 3.4 regulation 45 3.4.1 admissible lines of business and ... more vulnerable for instability, especially because of systemic and contagion risk. hence, promoting competition for liquidity through cross-border repos without having sufficient regard to these risks may be problematic. this ...
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