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The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In section two the functions, benefits, and costs of a leading international currency are discussed. In section three key determinants for the continuous dominance of the US dollar...
Persistent link: https://www.econbiz.de/10013136590
A model is presented to characterise the (optimal) demand for cash balances in deregulated markets. After the model of James Tobin, 1958, net balances are determined in order to maximise the expected return of a certain portfolio combining risk and capital. Unlike the model of Tobin, the prices...
Persistent link: https://www.econbiz.de/10013159438
.e. profitability, risk, solvency and liquidity. Mean, standard deviation, T-test and F-test has been utilized to test the significance …
Persistent link: https://www.econbiz.de/10011107368
, tracking error volatility and liquidity spread), this efficiency measure is easy to compute and may help investors in their … fund selection process. We provide some examples, and show how liquidity is more of an issue for institutional investors …
Persistent link: https://www.econbiz.de/10011107498
following indicators ie.: leverage, liquidity, capital ratio, asset quality and profitability are analyzed as a source of …
Persistent link: https://www.econbiz.de/10011107825
We analyze the implications of linking the compensation of fund managers to the return of their portfolio relative to that of a benchmark. In the presence of such relative-performance-based objectives, investors have reduced expected utility but markets are typically more informative and deeper....
Persistent link: https://www.econbiz.de/10011108017
This study estimates liquidity premiums using the recently developed Liu (2006) measure within a multifactor capital … of Nigeria. The evidence suggests that liquidity factors are relevant only for financial and basic materials sector …
Persistent link: https://www.econbiz.de/10011108128
& Efficiency, Leverage, and Liquidity ratios were used to measure the financial performance, where pre and post ratio analysis was …
Persistent link: https://www.econbiz.de/10011109039
This paper provides a micro-economic approach to evaluating bank stability in the face of adverse liquidity conditions …. Specifically, it examines the potential for systemic risk as a result of liquidity shocks on each bank. According to Nier et al … assessment is done by tracing the liquidity effect across institutions based on the degree of exposure among commercial banks. In …
Persistent link: https://www.econbiz.de/10011109463
We present a stylized model of the over-the-counter (OTC) markets in the tradition of Duffie, Gârleanu, and Pedersen 2005 with three distinctive features: (i) Buyers' willingness to pay is private information. (ii) Dividends depend on the state of the macro economy. (iii) Sellers become...
Persistent link: https://www.econbiz.de/10011109583