The Puzzle of Persistently Negative Interest Rate-Growth Differentials: Financial Repression or Income Catch-Up? pptx
The Puzzle of Persistently Negative Interest Rate-Growth Differentials: Financial Repression or Income Catch-Up? pptx
... WP/11/260 The Puzzle of Persistently Negative Interest Rate-Growth Differentials: Financial Repression or Income Catch-Up? Julio Escolano, Anna Shabunina, and Jaejoon Woo 19 also the coefficient ... the null hypothesis that the full set of orthogonality conditions are valid (for example, p-value=0.29 for the regression in Column 1). The second test examines the hypothesis that the error ... This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the...
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The Puzzle of Brazil''''s High Interest Rates pptx
... percent in the 1980s to about 20 percent in the second half of the 1990s prior to the introduction of the inflation targeting regime and the floating of the currency in 1999. They declined further ... This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the ... possible factors that may help reduce them over time. The paper focuses on the determinants of the evolution of the (ex-post) short-term real interest rate (the policy rate set by the Central...
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WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES docx
... the tables is similar to the one obtained when the long terms interest rate is instrumented with the residual of its regression on the short-term interest rate. The downward bias of the short-term ... with the results presented here. Second, we checked that the endogeneity of the long-term market interest rate does not affect the results. The coefficient of the short-term interest rate reported ... reflect the marginal funding or opportunity costs in the banking sector, (ii) the adjustment dynamics of the former, and (iii) their stochastic properties and the equilibrium conditions between them....
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The Sensitivity of Bank Net Interest Margins and Profitability to Credit, Interest-Rate, and Term-Structure Shocks Across Bank Product Specializations potx
... for the estimation of these models from the Reports of Condition and Income (Call Reports) collected on a quarterly basis by the FDIC from the first quarter of 1986 to the second quarter of ... 378–80 for the structural models for debt valuation. Conceptually, the value of the shareholders’ interest can be thought of as a call option on the assets of the firm, with the ability to put the ... over a 12-month horizon. As discussed above, the net interest margin is the major source of net income for most banks, and therefore a strategy of maximizing its value in the short run may be...
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The Determinants of Bank Net Interest Margin: Evidence from the Lebanese Banking Sector ppt
... the main determinants of net interest margins are bank-specific factors, whereas others claim that the industry-specific factors are more important. On the other hand, others believe that the ... favour of the Lebanese Pound has brought the level of dollarization of (resident private sector) loans from 87.01% at the beginning of 2001 to 77.28% at the end of 2010, and the dollarization of ... for foreign bank interest margins. Keywords: Interest Rate; Net Interest Margin; Foreign Banks; Concentration. 1. Introduction Interest rate margin is among the most important factors...
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WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES pptx
... the tables is similar to the one obtained when the long terms interest rate is instrumented with the residual of its regression on the short-term interest rate. The downward bias of the short-term ... with the results presented here. Second, we checked that the endogeneity of the long-term market interest rate does not affect the results. The coefficient of the short-term interest rate reported ... reflect the marginal funding or opportunity costs in the banking sector, (ii) the adjustment dynamics of the former, and (iii) their stochastic properties and the equilibrium conditions between them....
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WORKING PAPER SERIES NO 748 / MAY 2007: FINANCIAL DOLLARIZATION THE ROLE OF BANKS AND INTEREST RATES docx
... in2For evidence of the imp ortance of targets for future market shares for foreign-ownedbanks active in the region such as ING and Raiffeisen see de Haas and Naaborg (2005).Recently, the high ... currency. The opposite occurs when R∗v< Rv. Therefore, the firm portfolio choice is verysimilar to that of the households but for the new covariance term.Finally, the introduction of firms ... ImplicationsIn order to solve the model we assume the parameter values15shown in Table1. Discount factors are chosen to allow for a wider range of specifications forother parameters of the model for which...
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The Duration of Bank Retail Interest Rates BY Ben R. Craig and Valeriya Dinger ppt
... theories of the source of price inflexibility generate different predictions for the form of the hazard function. The classical time-dependent model of Calvo 1983 generates a flat form of the ... dates (the week for which a particular rate was offered for the first time and the last time). A spell ends with either a change in the interest rate or the exit of the bank–market unit from the ... framework allows us to extend the analysis to study the determinants of the hazard of changing the retail rates. The exploration of these determinants contains, on the one hand, information on the...
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Working PaPer SerieS no 967 / november 2008: Central bank miSPerCePtions and the role of money in interest rate rules pptx
... of the U.S. economy under the assumption of asymmetricinformation as in Svensson and Woodford (2004). Their findings regarding the information value of money areeven more negative. 17ECBWorking ... thatthese perceptions represent the best available estimates of the unobservable variables from the perspective of the central bank. Similarly, we use the superscripteas a short-hand for the rational ... causes more than twice the mean-squared error of inflation.In the case of U.S. output gap misperceptions, the policy without cross-checking generatesa mean squared error of inflation of 5.39. The...
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scientific american - 1995 12 - the puzzle of consciousness
... havetechniques for indicating whether nounsare subjects or objects, for example,and whether the subject of a verb is the speaker or some other person or object. The experiment provides powerfulcorroboration ... mortgagees andother security holders owning or holding 1 percent or more of total amount of bonds, mortgages or other securities: none. 12. For completion by non-profit organizations authorized ... duration of the relationship between the father andmother. If the relationship is brief, Haigobserves, chances are that any otherchildren borne by the woman will bear the genes of another man. The...
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Từ khóa: Nghiên cứu vật liệu biến hóa (metamaterials) hấp thụ sóng điện tử ở vùng tần số THzĐỒ ÁN NGHIÊN CỨU CÔNG NGHỆ KẾT NỐI VÔ TUYẾN CỰ LY XA, CÔNG SUẤT THẤP LPWANPhát hiện xâm nhập dựa trên thuật toán k meansNghiên cứu tổng hợp các oxit hỗn hợp kích thƣớc nanomet ce 0 75 zr0 25o2 , ce 0 5 zr0 5o2 và khảo sát hoạt tính quang xúc tác của chúngTìm hiểu công cụ đánh giá hệ thống đảm bảo an toàn hệ thống thông tinThiết kế và chế tạo mô hình biến tần (inverter) cho máy điều hòa không khíSở hữu ruộng đất và kinh tế nông nghiệp châu ôn (lạng sơn) nửa đầu thế kỷ XIXTổ chức và hoạt động của Phòng Tư pháp từ thực tiễn tỉnh Phú Thọ (Luận văn thạc sĩ)Kiểm sát việc giải quyết tố giác, tin báo về tội phạm và kiến nghị khởi tố theo pháp luật tố tụng hình sự Việt Nam từ thực tiễn tỉnh Bình Định (Luận văn thạc sĩ)Tăng trưởng tín dụng hộ sản xuất nông nghiệp tại Ngân hàng Nông nghiệp và Phát triển nông thôn Việt Nam chi nhánh tỉnh Bắc Giang (Luận văn thạc sĩ)Tranh tụng tại phiên tòa hình sự sơ thẩm theo pháp luật tố tụng hình sự Việt Nam từ thực tiễn xét xử của các Tòa án quân sự Quân khu (Luận văn thạc sĩ)Giáo án Sinh học 11 bài 15: Tiêu hóa ở động vậtGiáo án Sinh học 11 bài 15: Tiêu hóa ở động vậtGiáo án Sinh học 11 bài 14: Thực hành phát hiện hô hấp ở thực vậtGiáo án Sinh học 11 bài 14: Thực hành phát hiện hô hấp ở thực vậtGiáo án Sinh học 11 bài 14: Thực hành phát hiện hô hấp ở thực vậtBÀI HOÀN CHỈNH TỔNG QUAN VỀ MẠNG XÃ HỘIĐổi mới quản lý tài chính trong hoạt động khoa học xã hội trường hợp viện hàn lâm khoa học xã hội việt namMÔN TRUYỀN THÔNG MARKETING TÍCH HỢPTÁI CHẾ NHỰA VÀ QUẢN LÝ CHẤT THẢI Ở HOA KỲ