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Ebook Market Liquidity, Asset Prices, and Welfare

... in other words, any costs or hurdles that prevent the free flow of capital into the market. Download PDF Ebook Market Liquidity, Asset Prices, and Welfare (Business & ...

Story - puput - 11/10/2010 - 04:08 - 0 comments - 0 attachments

Ebook Asset Prices and Liquidity in an Exchange Economy

... an equity share and a one-period government-issued risk-free real bill. In the basic setup, assets differ only in their payoffs, and ... equity premium is still too low. Download PDF Ebook Asset Prices and Liquidity in an Exchange Economy (Business & ...

Story - puput - 11/18/2010 - 08:12 - 0 comments - 0 attachments

PDF Ebook Asset Prices in an Exchange Economy with Money and Trade

... of “outside money” (i.e. agents’ monetary endowments free and clear of any liability), a somewhat controversial assumption. However, ... enter agents’ utility function. Download PDF Ebook Asset Prices in an Exchange Economy with Money and Trade ...

Story - antoq - 11/01/2010 - 06:51 - 0 comments - 0 attachments

Ebook Pairwise Trade, Payments, Asset Prices, and Monetary Policy

... help explaining asset pricing anomalies, such the risk free rate and equity premium puzzles, or to account for a liquidity based ... (2008), Zhu and Wallace (2005). Download PDF Ebook Pairwise Trade, Payments, Asset Prices, and Monetary Policy ...

Story - puput - 11/09/2010 - 07:44 - 0 comments - 0 attachments

Ebook A Monetary Approach to Asset Liquidity

... investment opportunities. In Lagos, agents hold risk free bonds and equity, but equity shares can only be used to finance a fraction ... risk free assets, trades shut down. Download PDF Ebook A Monetary Approach to Asset Liquidity (Business & Economics) ...

Story - wulan - 01/13/2010 - 07:00 - 0 comments - 0 attachments

Ebook Liquidity, Business Cycles, and Monetary Policy

... the well known puzzles we have in mind are: the low risk free rate puzzle; the excess volatility of asset prices; the anomalous savings ... he faces a borrowing constraint. Download PDF Ebook Liquidity, Business Cycles, and Monetary Policy (Business & ...

Story - puput - 11/18/2010 - 08:02 - 0 comments - 0 attachments

Ebook Interbank Market Liquidity and Central Bank Intervention

... long term assets with a higher return. All assets are risk free in the sense that their promised payoffs are always paid. Banks face ... 7. Finally, Section 8 concludes. Download PDF Ebook Interbank Market Liquidity and Central Bank Intervention ...

Story - puput - 10/20/2010 - 08:08 - 0 comments - 0 attachments

Ebook Financing Shortfalls and the Value of Aggregate Liquidity

... However, firms with too much liquidity are subject to free cash flow agency problems, and this leads firms to pay funds out to ... findings, and section 4 concludes. Download PDF Ebook Financing Shortfalls and the Value of Aggregate Liquidity ...

Story - puput - 10/19/2010 - 07:41 - 0 comments - 0 attachments

Ebook Momentum, Liquidity Risk, and Limits to Arbitrage

... that transaction costs are constant and that investor are free to choose when to trade. However, these two assumptions may not hold in ... theory to a large panel of data. Download PDF Ebook Momentum, Liquidity Risk, and Limits to Arbitrage (Business & ...

Story - puput - 10/28/2010 - 06:34 - 0 comments - 0 attachments

Ebook Mutual fund competition and stock market liquidity

... of information that these funds collect. If we allow for free entry in the mutual fund market, an increase in the cost of generating ... A brief conclusion follows. Download PDF Ebook Mutual fund competition and stock market liquidity (Business & ...

Story - puput - 10/15/2010 - 08:12 - 0 comments - 0 attachments


Ebook On the Importance of Sectoral Shocks for Price-setting

Submitted by wulan on Mon, 06/21/2010 - 05:59

A central element of a majority of contemporary macroeconomic models is the assumption of nominal rigidities in goods markets. The rationale for incorporating price stickiness into these models is provided by the fact that there exists strong empirical evidence in favor of stickiness in prices at an aggregate level. Moreover, the empirical fit of models usually improves considerably when nominal rigidities are allowed for. A standard assumption in DSGE models is Calvo pricing, where firms adjust prices according to staggered contracts (time-dependent pricing). Alternative assumptions include state dependent pricing, information frictions or rational inattention.

The relatively broad consensus about the importance of stickiness in nominal goods prices that emerged, has been challenged in recent years, however. Newer studies that analyze the behavior of micro price data have come to somewhat puzzling results: They find that these prices are not only very volatile, but also exhibit low persistence, in stark contrast to the findings concerning the behavior of aggregate data.

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Ebook Analysis of the State of Competition and Market Structure of the Banking and Insurance Sectors

Submitted by puput on Wed, 03/31/2010 - 03:27

The regulation of the Philippine financial services sector, particularly the banking sector, has undergone considerable change in the last two decades. On the one hand, there has been the removal of certain regulations such as direct controls on interest rates, as well as a substantial relaxation in other regulations such as restrictions on entry, lines ofbusiness, and portfolios. The overall objective of such deregulatory reforms was to promote competitive conditions to foster greater efficiency in the financial sector. On the other hand, there has also been a strengthening of prudential regulation, which was justified as necessary to protect depositors and to preserve the stability of the payments system. But it also needs to be recognized that there may be remaining regulations that unnecessarily restrict competition, and are no longer necessary for prudential reasons. Clearly a balance needs to be struck between the twin objectives of enhanced competition and efficiency, and soundness and stability of the financial sector. Ultimately, the goal should be a regulatory and supervisory structure that imposes the minimum level of control necessary to give effect to public policy objectives.

The design, implementation and enforcement of regulatory rules have expectedly affected the structure and nature of the Philippine financial services sector, especially since they continue to impose important constraints on the ownership and business powers of financial institutions. This, in turn, has important implications for the competitive process in the financial services sector and ultimately the type, quality and price of the products offered to consumers and business users. There have been a number of extensive studies detailing the changes in financial sector regulations and their overall effects. In particular, policies to strengthen the financial condition and supervision of the banking sector have resulted in overall soundness and stability. But whether the reforms have also resulted in a more competitive and efficient financial sector must also be established. A definitive study on the competitive structure of the Philippine financial services sector would thus be instructive.

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PDF Ebook Performance Management

Submitted by antoq on Tue, 02/08/2011 - 07:46

Performance is understood as achievement of the organization in relation with its set goals. It includes outcomes achieved, or accomplished through contribution of individuals or teams to the organization‘s strategic goals. The term performance encompasses economic as well as behavioural outcomes. Brumbach views performance more comprehensively by encompassing both behaviors and results. He is of the view that behaviors as ?outcomes in their own right‘, which ?can be judged apart from results‘. Performance is an impact. The roles of any manage can be seen in three parts: Being, Doing and Relating.

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