Search Results - subject:"Financial Structure"

Determinants of Credit Growth and Interest Margins in the Philippines and Asia

Tan, Tatum Blaise Pua - International Monetary Fund (IMF) - 2012

Despite robust deposit growth, credit growth has been sluggish in the Philippines. We attribute this to legacy weaknesses in bank balance sheets, consumption-led economic growth, and relatively high net interest margins. Bank-level analysis suggests that interest margins in the Philippines rise...

Persistent link: https://www.econbiz.de/10010790364

Intertwined Sovereign and Bank Solvencies in a Model of Self-Fulfilling Crisis

Adler, Gustavo - International Monetary Fund (IMF) - 2012

Large fiscal financing needs, both in advanced and emerging market economies, have often been met by borrowing heavily from domestic banks. As public debt approached sustainability limits in a number of countries, however, high bank exposure to sovereign risk created a fragile inter-dependence...

Persistent link: https://www.econbiz.de/10010878417

Differential taxation and firms' financial leverage: Evidence from the introduction of a flat tax on interest income

Fossen, Frank; Simmler, Martin - Fachbereich Wirtschaftswissenschaft, Freie Universität … - 2012

Tax competition for the mobile factor capital has led to a trend in many countries to levy lower taxes on interest income, often introducing differential taxation between interest and business income. In this study, we analyze the effect of such differential taxation on the debt ratio of firms....

Persistent link: https://www.econbiz.de/10010956158

Towards an explanation of cross-country asymmetries in monetary transmission

Georgiadis, Georgios - Deutsche Bundesbank - 2012

I quantify the importance of financial structure, labor market rigidities and industry mix for cross … responses also vary across countries, but only to the extent that countries differ regarding their financial structure, labor … can be accounted for by crosscountry differences in financial structure, labor market rigidities and industry mix. While …

Persistent link: https://www.econbiz.de/10010957093

Towards an explanation of cross-country asymmetries in monetary transmission

Georgiadis, Georgios - Deutsche Bundesbank - 2012

Persistent link: https://www.econbiz.de/10010535439

Macrofinancial Modeling At Central Banks; Recent Developments and Future Directions

Vlcek, Jan; Roger, Scott - International Monetary Fund (IMF) - 2012

This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and financial stability analysis. It highlights the need to develop macrofinancial models...

Persistent link: https://www.econbiz.de/10009650617

Barbados; Sectoral Balance Sheet Mismatches and Macroeconomic Vulnerabilities

Yartey, Charles Amo - International Monetary Fund (IMF) - 2012

This paper uses the balance sheet approach to analyze macroeconomic vulnerabilities in Barbados between 2006 and 2009. It discusses the financial position of the economy and its main sectors and the sectors' exposure to changes in exchange rates. The main finding of the analysis is that the...

Persistent link: https://www.econbiz.de/10009650635

Differential Taxation and Firms' Financial Leverage: Evidence from the Introduction of a Flat Tax on Interest Income

Fossen, Frank M.; Simmler, Martin - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012

Persistent link: https://www.econbiz.de/10009651334

An Investigation into the Impact of the Usage of Debt on the Profitability of Romanian Companies

DUCA, Florinita - In: Romanian Statistical Review Supplement 60 (2012) 3, pp. 84-87

The present study examines the relationship between return on equity (ROE), leverage and size of firms. A sample companies registered under Bucharest Stock Exchange were examined. The study employed regression method to estimate the impact of debt level on profitability (measured by Return on...

Persistent link: https://www.econbiz.de/10010598329

A remark on arbitrage free prices in multi-period economy.

Cornet, Bernard; Ranjan, Abhishek - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2012

We study the convexity property of the set of arbitrage-free prices for a multi-period financial exchange economy. We provide sufficient conditions for the set of arbitrage-free prices to be a convex cone, which includes 2-date model. Further we show that a financial exchange economy with the...

Persistent link: https://www.econbiz.de/10010551755