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Republic of Korea; 2002 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Korea

International Monetary Fund (IMF); International … - 2003

This 2002 Article IV Consultation highlights that the economic growth of Korea rose to about 6 percent in 2002 from 3 percent in 2001. Buoyant consumption and residential construction spending underpinned the recovery beginning in late 2001. In 2002, exports rebounded strongly in spite of a...

Persistent link: https://www.econbiz.de/10005598815

Chile; Institutions and Policies Underpinning Stability and Growth

Kalter, Eliot; Phillips, Steven; Singh, Manmohan; … - International Monetary Fund (IMF) - 2004

This paper presents the primary institutions and economic policies that have led to Chileâ€™s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...

Persistent link: https://www.econbiz.de/10005767351

Is Systematic Default Risk Priced in Equity Returns? A Cross-Sectional Analysis Using Credit Derivatives Prices

Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2006

This paper finds that systematic default risk, or the event of widespread defaults in the corporate sector, is an … important determinant of equity returns. Moreover, the market price of systematic default risk is one order of magnitude higher … than the market price of other risk factors. In contrast to studies by Fama and French (1993, 1996 ) and Vassalou and Xing …

Persistent link: https://www.econbiz.de/10005605000

From Crisis to Recovery in Korea; Strategy, Achievements, and Lessons

Kang, Kenneth; Liang, Hong; Ma, Henry; Richards, Anthony J. - International Monetary Fund (IMF) - 2001

This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant...

Persistent link: https://www.econbiz.de/10005825786

Japan; Financial Sector Assessment Programâ€”Technical Note on Credit Intermediation

International Monetary Fund (IMF); International … - 2012

-affiliated institutions, promotion of electronic registrations, risk-based financing, and reinforcing bank administrations. The Board takes up …

Persistent link: https://www.econbiz.de/10011244991

Credit Risk Taking by Japanese Investors: Is Skewness Risk Priced in Japanese Corporate Bond Market?

Nishioka, Shinichi; Baba, Naohiko - Bank of Japan - 2004

orthodox beta-CAPM and gamma-risk arising from skewness. We call the pricing model with gamma-risk gamma-CAPM. The weight …This paper aims to analyze risk premium of corporate bonds considering skewness as an additional risk factor under a … portfolio selection framework. With skewness, risk premium can be expressed as a weighted average of beta-risk under the …

Persistent link: https://www.econbiz.de/10010894598

Small and medium-sized enterprises in East Germany: Status and outlook

Irsch, Norbert - In: CESifo Forum 6 (2005) 4, pp. 7-15

Persistent link: https://www.econbiz.de/10004998728

The strategic effect of debt in dynamic price competition with fluctuating demand

Neubecker, Leslie - Wirtschaftswissenschaftlichen Fakultät, … - 2002

This paper shows that obligations from debt hinder tacit collusion if equity owners are protected by limited liability. In contrast to its advantageous commitment value in short-run competition, leverage reduces profits from infinite interaction. Contrasting uncorrelated shocks with a cyclical...

Persistent link: https://www.econbiz.de/10009151418

Zinsschranke, Unternehmensbewertung und APV Ansatz - eine Anmerkung zum Beitrag von Förster/Stöckl/Brenken (ZfB 2009, S. 985 ff.)

Arnold, Sven; Lahmann, Alexander; Schwetzler, Bernhard - arqus - Arbeitskreis Quantitative Steuerlehre - 2011

In einem kürzlich erschienenen ZfB-Beitrag schlagen Förster et al. eine Vorgehensweise für die Erfassung der Zinsschranke und ihrer Wirkung auf die zinsinduzierte Steuerersparnis vor. Dieser Beitrag nimmt kritisch dazu Stellung: Es wird gezeigt, dass die dort abgeleiteten Formeln für die...

Persistent link: https://www.econbiz.de/10009004777

Probleme des Insolvenzplanverfahrens

Henselmann, Klaus; Gutbier, Manuel - Wirtschafts- und Sozialwissenschaftliche Fakultät, … - 2010

The paper analyses options in case of insolvency. Although insolvency plans empirically are very successful, they are …

Persistent link: https://www.econbiz.de/10008479035