topmenu
Wyniki wyszukiwania:
wyszukanych pozycji: 71
 |
Going Public Abroad
ISBN: 9781503231221 / Angielski / Miękka / 2014 / 48 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. This study examines the decision to go public abroad using a sample of 17,808 IPOs. Although only 6% of initial public offerings are offered abroad, these represent approximately 25% of total IPO proceeds. We find that alleviating informational frictions in order to obtain greater offering proceeds is an important determinant of the decision to go public abroad. Foreign and global IPOs originate from countries with significantly fewer recent IPOs in the same industry, less developed capital markets, and lower disclosure standards. Contrary to assumptions in prior research, we also show that...
This study examines the decision to go public abroad using a sample of 17,808 IPOs. Although only 6% of initial public offerings are offered abroad, t...
|
cena:
60,49 |
 |
Are Homeowners in Denial about their House Values ? Comparing Owner Perceptions with Transaction-Based Indexes
ISBN: 9781499175578 / Angielski / Miękka / 2014 / 40 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. |
cena:
72,63 |
 |
Equity Market Misvaluation, Financing, and Investment
ISBN: 9781503231238 / Angielski / Miękka / 2014 / 52 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. We quantify how much nonfundamental movements in stock prices affect firm decisions. We estimate a dynamic investment model in which firms can finance with equity or cash (net of debt). Misvaluation affects equity values, and firms optimally issue and repurchase overvalued and undervalued shares. The funds flowing to and from these activities come from either investment, dividends, or net cash. The model fits a broad set of data moments in large heterogeneous samples and across industries. Firms respond to misvaluation by adjusting financing more than by adjusting investment. Managers'...
We quantify how much nonfundamental movements in stock prices affect firm decisions. We estimate a dynamic investment model in which firms can finance...
|
cena:
60,49 |
 |
Tradability of Output, Business Cycles, and Asset Prices
ISBN: 9781508847403 / Angielski / Miękka / 2015 / 50 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. I document in this book that firms in the tradable sector have more cyclical asset returns and earning than firms in the non-tradable sector
I document in this book that firms in the tradable sector have more cyclical asset returns and earning than firms in the non-tradable sector
|
cena:
52,40 |
 |
Sticky Deposit Rates
ISBN: 9781503283466 / Angielski / Miękka / 2014 / 36 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. We examine the dynamics of eleven different deposit rates for a panel of over 2,500 branches of about 900 depository institutions observed weekly over ten years. We replicate previous work showing that rates are downwards-flexible and upwards-sticky, and show that a simple menu cost model can generate this behavior. The degree of asymmetric rigidity varies substantially by deposit type, bank size, and across branches of the same bank. In the absence of such stickiness, depositors would have received as much as $100 billion more in interest per year during periods when market rates were...
We examine the dynamics of eleven different deposit rates for a panel of over 2,500 branches of about 900 depository institutions observed weekly over...
|
cena:
52,40 |
 |
Overnight RRP Operations as a Monetary Policy Tool: Some Design Considerations
ISBN: 9781511467247 / Angielski / Miękka / 2015 / 38 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. |
cena:
52,40 |
 |
Bank Liquidity Hording and Financial Crisis: An Empirical Evaluation
ISBN: 9781503219984 / Angielski / Miękka / 2014 / 42 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. The Federal Reserve Board tested and found supporting evidence for the precautionary motive hypothesis of liquidity hoarding for U.S. commercial banks during the recent financial crisis. They also found that banks held more liquid assets in anticipation of future losses from securities write-downs. Exposure to securities losses in their investment portfolios and expected loan losses (measured by loan loss reserves) represent key measures of banks' on-balance sheet risks, in addition to off-balance sheet liquidity risk stemming from unused loan commitments. Furthermore, unrealized securities...
The Federal Reserve Board tested and found supporting evidence for the precautionary motive hypothesis of liquidity hoarding for U.S. commercial banks...
|
cena:
52,40 |
 |
Repo Collateral Fire Sales: The Effects of Exemption from Automatic Stay
ISBN: 9781503283497 / Angielski / Miękka / 2014 / 48 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. What are the consequences of a potential fire sale stemming from the exemption of repurchase agreements (repos) from automatic stay? This paper shows that repo's exemption from stay alters firms' financing and investment decisions ex ante. Specifically, a stay exemption changes firms' investment opportunity set, enabling them to purchase assets of defaulted firms at fire sale prices. Fire sales arise endogenously because of limited capital available to purchase collateral posted by insolvent firms, i.e., cash-in-the-market pricing. A fire sale effectively creates a premium for holding on to...
What are the consequences of a potential fire sale stemming from the exemption of repurchase agreements (repos) from automatic stay? This paper shows ...
|
cena:
52,40 |
 |
Institutions and return predictability in oil-exporting countries
ISBN: 9781511660426 / Angielski / Miękka / 2015 / 32 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. We study whether stock market returns in oil-exporting countries can be predicted by oil price changes, and we investigate the link between predictability and the quality of each country's institutions. Returns are predictable for half the countries we consider, and predictability is stronger when institutional quality is lower. We argue that the relation between predictability and institutional quality re ects the preference of countries with weaker institutions to consume oil windfalls locally rather than smooth out the impact of windfalls by, for instance, investing the proceeds through a...
We study whether stock market returns in oil-exporting countries can be predicted by oil price changes, and we investigate the link between predictabi...
|
cena:
52,40 |
 |
Are Homeowners in Denial about their House Values? Comparing Owner Perceptions with Transaction-Based Indexes
ISBN: 9781503222953 / Angielski / Miękka / 2014 / 28 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. The boom and bust of the housing market has been a prominent feature of the household financial landscape in recent years. The exact magnitude of the house price swings depends on whether you ask homeowners how much their houses are worth at two points in time or use the change in a transaction-based house price index (HPI). During the boom, owner-reported values rose much more rapidly than the HPI, and after the bust, owner-reported values fell slightly less than the HPI. Individual homeowner 'errors' are estimated to explain about one-third of the different in aggregate changes in the...
The boom and bust of the housing market has been a prominent feature of the household financial landscape in recent years. The exact magnitude of the ...
|
cena:
52,40 |
 |
Payday Lending Regulation
ISBN: 9781503283527 / Angielski / Miękka / 2014 / 40 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. To date the debate over payday lending has focused on whether access to such lending is on net beneficial or harmful to consumer welfare. However, payday loans are not one product but many, and different forms of lending may have different welfare implications. The current diversity in payday lending stems from the diverse ways in which states have regulated the industry. This paper attempts to quantify the effects that various regulatory approaches have had on lending terms and usage. Using a novel institutional dataset of over 56 million payday loans, covering 26 states for nearly 6 years,...
To date the debate over payday lending has focused on whether access to such lending is on net beneficial or harmful to consumer welfare. However, pay...
|
cena:
52,40 |
 |
Downside Variance Risk Premium
ISBN: 9781511660457 / Angielski / Miękka / 2015 / 66 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. Our results are supported by a simple equilibrium consumption-based asset pricing model.
Our results are supported by a simple equilibrium consumption-based asset pricing model.
|
cena:
52,40 |
 |
Cost Shifting and the Freezing of Corporate Pension Plans
ISBN: 9781503223714 / Angielski / Miękka / 2014 / 54 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. Many U.S. corporations have frozen defined benefit (DB) pension plans, replacing new DB promises with contributions to defined contribution (DC) plans. We estimate expected DB accruals from the age-service and salary distributions of a large sample of U.S. corporate pension plans with more than 1,000 employees. Comparing the counterfactual DB accruals to the actual increase in 401(k) and other DC contributions for firms that freeze, we find only partial compensation to employees for the lost DB accruals. Net of the increase in total DC contributions, firms save 2.7-3.6% of payroll per year,...
Many U.S. corporations have frozen defined benefit (DB) pension plans, replacing new DB promises with contributions to defined contribution (DC) plans...
|
cena:
52,40 |
 |
Inequality and Poverty in the United States: the Aftermath of the Great Recessio
ISBN: 9781505296969 / Angielski / Miękka / 2014 / 50 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. This book explores trends in inequality and poverty using both market and after-tax and transfer income in the period during and after the Great Recession (through 2011). Using market income (or wages), inequality and poverty rose sharply between 2008 and 2010. The primary exception is measures for the top of the distribution; annual wage and income shares of the top one percent dipped in 2008 and 2009. Including taxes and transfers, broad-based inequality measures also fell, and the poverty increase was muted. Tax and transfer policies lowered inequality and poverty, but those policies were...
This book explores trends in inequality and poverty using both market and after-tax and transfer income in the period during and after the Great Reces...
|
cena:
60,49 |
 |
Volatility, Labor Heterogeneity and Asset Prices
ISBN: 9781503287129 / Angielski / Miękka / 2014 / 50 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. This study shows that a firm's reliance on skilled labor is an underlying determinant of its exposure to aggregate volatility risk. I present a model in which firms make hiring and firing decisions in an environment of time-varying aggregate volatility, and face linear adjustment costs that increase with the skill of a worker. In the model, an increase in aggregate volatility slows a firm's labor demand reaction to changes in economic conditions, reducing its ability to smooth cash flows. The rise in aggregate volatility has a more pronounced impact on firms with a high share of skilled labor...
This study shows that a firm's reliance on skilled labor is an underlying determinant of its exposure to aggregate volatility risk. I present a model ...
|
cena:
52,40 |
 |
Banking Panics and Deflation in Dynamic General Equilibrium
ISBN: 9781511660488 / Angielski / Miękka / 2015 / 42 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. This paper develops a framework to study the interaction between banking, price dynamics, and monetary policy. Deposit contracts are written in nominal terms: if prices unexpectedly fall, the real value of banks existing obligations increases. Banks default, panics precipitate, economic activity declines. If banks default, aggregate demand for cash increases because financial intermediation provided by banks disappears. When money supply is unchanged, the price level drops, thereby providing incentives for banks to default. Active monetary policy prevents banks from failing and output from...
This paper develops a framework to study the interaction between banking, price dynamics, and monetary policy. Deposit contracts are written in nomina...
|
cena:
52,40 |
 |
National Bank Examinations and Operations in the Early 1890s
ISBN: 9781503231177 / Angielski / Miękka / 2014 / 46 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. We use information from examination reports to enrich our understanding of both the examination process and bank operations for National Banks in the early 1890s, the height of the National Banking Era. We describe the examination process and its frequency, as well as the information contained in the examinations relating to bank ownership and corporate governance, the composition and quality of the loan book, dividend payments made by the banks, and the use of different types of liabilities. Our sample of banks is from the larger cities, including several reserve cities, which allows us to...
We use information from examination reports to enrich our understanding of both the examination process and bank operations for National Banks in the ...
|
cena:
60,49 |
 |
Labor Force Participation: Recent Developments and Future Prospects
ISBN: 9781506127545 / Angielski / Miękka / 2015 / 70 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. More than five years after the Great Recession ended, the labor market has, by many metrics, finally shown substantial improvement. The unemployment rate is now nearly 4 percentage points below the peak reached in late 2009, and the number of nonfarm payroll jobs has returned to pre-recession levels. However, one lingering concern is the ongoing decline in the labor force participation rate and the concomitant absence of a significant rise in the percentage of the working-age population who are employed. In particular, the labor force participation rate has fallen from about 66 percent of the...
More than five years after the Great Recession ended, the labor market has, by many metrics, finally shown substantial improvement. The unemployment r...
|
cena:
52,40 |
 |
Taxpayer Confusion over Predictable Tax Liability Changes: Evidence from the Child Tax Credit
ISBN: 9781499136760 / Angielski / Miękka / 2014 / 42 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. This paper offers two contributions to the literature on taxpayer perceptions of the tax system. Our first contribution is that we develop a model that generates predictions over how taxpayers update their beliefs about their marginal tax rates when they experience an unexpected change in their tax liability. Our model is an extension of a standard full information, rational agent model that allows for imperfect knowledge of the income tax schedule. In the model, a household is subject to a linear tax schedule that changes from year to year. The household perceives innovations to the tax...
This paper offers two contributions to the literature on taxpayer perceptions of the tax system. Our first contribution is that we develop a model tha...
|
cena:
40,26 |
 |
The Federal Reserve's Framework for Monetary Policy-Recent Changes and New Questions
ISBN: 9781503287174 / Angielski / Miękka / 2014 / 68 str. Termin realizacji zamówienia: ok. 16-18 dni roboczych. In recent years, the Federal Reserve has made substantial changes to its framework for monetary policymaking by providing greater clarity regarding its objectives, its intentions regarding the use of monetary policy- including nontraditional policy tools such as forward guidance and asset purchases-in the pursuit of those objectives, and its broader policy strategy. These changes reflected both a response to changes in economists' understanding of the most effective way to implement monetary policy and a response to specific challenges posed by the financial crisis and its aftermath,...
In recent years, the Federal Reserve has made substantial changes to its framework for monetary policymaking by providing greater clarity regarding it...
|
cena:
52,40 |
Czytaj nas na:
Zobacz: Księgarnia Czeska | Wydawnictwo Książkowe Klimaty | Mapa strony | Lista autorów
KrainaKsiazek.PL - Księgarnia Internetowa
KrainaKsiazek.PL - Księgarnia Internetowa
