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In 2020, Papua New Guinea faced three crises: the COVID-19 health emergency, an economic contraction, and political turmoil. The economy contracted by 3.8 percent in 2020 and will rebound by 3.5 percent in 2021. Considering that the economy entered the COVID-19 crisis with a poor record of...
Persistent link: https://www.econbiz.de/10012521877
-label asset-backed securities (ABS), including mortgage-backed securities and other structured investment products. The GSG … risky subprime mortgage borrowers was necessarily indirect, pushing down yields on safe assets and increasing the appetite …
Persistent link: https://www.econbiz.de/10011056342
crisis, policy responses to date and United Nations alternative proposals for ‘A Recovery for All.’ With a foreword by Sir …
Persistent link: https://www.econbiz.de/10010548026
The 21st century starts with vast inequalities for children in terms of income, access to food, water, health, education, housing, or employment for their families. Half of the world’s children are below the poverty line of $2 a day and suffer from multiple deprivations and violations to basic...
Persistent link: https://www.econbiz.de/10010555880
We study the relative and absolute pricing of CMBX contracts (commercial real estate derivatives) during the recent … financial crisis. Using a structural CMBX pricing model, we find little systematic mispricing relative to REIT equity and … significant. In particular, the CMBX market temporarily overreacts to news announcements. We provide evidence that this temporary …
Persistent link: https://www.econbiz.de/10010576087
. First, it demonstrates that the bubble was a supply-side phenomenon attributable to an excess of mispriced mortgage finance …: mortgage-finance spreads declined and volume increased, even as risk increased—a confluence attributable only to an oversupply … of mortgage finance. Second, it explains the mortgage-finance supply glut as resulting from the failure of markets to …
Persistent link: https://www.econbiz.de/10011261024
The Troubled Asset Relief Program (TARP), or the $700 billion bailout, has been the subject of much academic interest. Here the rigorous studies on the programs of this massive intervention into the financial sector are reviewed. While considerable work has been done on the bank bailouts in the...
Persistent link: https://www.econbiz.de/10010684108