WILBERT

Wildauer Bücher+E-Medien Recherche-Tool

feed icon rss

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
Filter
  • Other Sources  (48)
  • Welt  (48)
Collection
  • Other Sources  (48)
Source
Keywords
Language
  • 1
    facet.materialart.
    Unknown
    Amsterdam and Rotterdam: Tinbergen Institute
    Publication Date: 2013-11-13
    Description: Firms have not historically called their convertible bonds as soon as they could force conversion. Various explanations for the delay rely on the size of the dividends that bondholders forgo so long as they do not convert. We investigate an important change in convertible security design, namely that more than 95 percent of recent convertible bond issues are dividend-protected. Dividend protection means that the conversion value of the shares into which a bond is convertible is unaffected by dividend payments and dividendrelated rationales for call delay become moot. We document that dividend-protectedconvertibles are called as soon as conversion can be forced.
    Keywords: G2 ; G32 ; ddc:330 ; Call policy ; Dividend protection ; Convertible securities ; Security design ; Wandelanleihe ; Dividende ; Unternehmensfinanzierung ; Welt
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 2
    facet.materialart.
    Unknown
    Vienna: SUERF - The European Money and Finance Forum
    Publication Date: 2018-02-01
    Description: On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the papers in this publication discuss from different angles the complex interrelations between states and financial systems, which have developed in recent years with economic, financial and sovereign debt crises. The contributions look primarily on the monetary policy and financial regulation and supervision perspectives. In the preceding SUERF Study (2013/2), the focus of the contributions also delivered at the 30th SUERF Colloquium is on fiscal policy and sovereign debt perspectives.
    Keywords: E30 ; E43 ; E5 ; E52 ; B31 ; E52 ; E58 ; E63 ; N12 ; C32 ; D22 ; D50 ; G21 ; G28 ; G33 ; E5 ; E58 ; E5 ; E58 ; G21 ; G33 ; ddc:330 ; financial crisis ; procyclicality ; counter cyclical balances ; financial cycle ; liquidity ; repo markets ; money ; banking ; monetary union ; unusual monetary policy ; Marriner Eccles ; Central Banking ; Monetary Policy ; Fiscal Policy ; trade credit ; substitution hypothesis ; credit rationing ; bank resolution ; bailouts ; Central bank independence ; shadow banking ; regulation ; supervision ; macroprudential regulation ; Central bank policymaking ; crisis management ; bail-outs ; supervision ; financial management ; Bail-in ; bank resolution ; bridge banks ; capital allocation ; Pigovian tax ; resource allocation ; Geldpolitik ; Geldpolitische Transmission ; Zentralbankunabhängigkeit ; Bankenregulierung ; Welt
    Language: English
    Type: doc-type:conferenceObject
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 3
    facet.materialart.
    Unknown
    München: ifo Institut für Wirtschaftsforschung an der Universität München
    Publication Date: 2017-08-03
    Description: Am 13. Dezember 2007 stellte das ifo Institut im Rahmen seines vorweihnachtlichen Pressegesprächs seine Prognose für die Jahre 2008 und 2009 vor. Die Weltwirtschaft hat in diesem Jahr mit 5,2% erneut sehr kräftig expandiert. Allerdings sind die Risiken für die Konjunktur im Gefolge der Turbulenzen an den internationalen Finanzmärkten inzwischen merklich gestiegen. So hat sich das vom ifo Institut erhobene Weltwirtschaftsklima im 4. Quartal 2007 deutlich verschlechtert. Sowohl die Einschätzungen der derzeitigen wirtschaftlichen Lage als auch die Erwartungen für die nächsten sechs Monate wurden nach unten revidiert. Die Verschlechterung des ifo Wirtschaftsklimas betrifft alle drei großen Weltregionen, also Westeuropa, Nordamerika und Asien. Dabei ist der stärkste Rückgang des Klimaindikators in Nordamerika, und dort in erster Linie in den USA zu verzeichnen. Diese Datenkonstellation deutet daraufhin, dass sich das Tempo der Weltkonjunktur merklich verlangsamen wird. Die deutsche Konjunktur ist zum Jahresende 2007 weiter aufwärts gerichtet, wenn auch mit nachlassender Kraft. Die Dynamik hatte im vergangenen Winter einen Höhepunkt erreicht und lässt inzwischen wieder deutlich nach. Wie das ifo Institut im Dezember 2006 erwartet hatte, hat sich der seit 2005 laufende Aufschwung trotz der massiven Erhöhung der Mehrwertsteuer fortgesetzt. Die Auftriebskräfte aus dem In- und Ausland waren kräftig genug, um die restriktiven Wirkungen der Finanzpolitik zu verkraften. Konjunkturmotor war weiterhin die Auslandsnachfrage, die trotz der massiven Aufwertung des Euro gegenüber dem US-Dollar aufgrund der dynamischen Weltkonjunktur kräftig blieb. Im Jahresdurchschnitt 2007 expandierte das reale Bruttoinlandsprodukt um 2,5%. Allerdings gab es in diesem Jahr erneut eine etwas geringere Zahl von Arbeitstagen als 2006. Nach Ausschaltung dieser Kalenderschwankung ist die Zuwachsrate der Produktion auf 2,6% zu veranschlagen, was knapp unter dem Durchschnitt der alten EU-Länder liegt.
    Keywords: F01 ; O00 ; ddc:330 ; Konjunktur ; Konjunkturprognose ; Konjunkturumfrage ; Wirtschaftslage ; Geschäftsklima ; Weltkonjunktur ; Deutschland ; Welt
    Language: German
    Type: doc-type:article
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 4
    facet.materialart.
    Unknown
    München: ifo Institut für Wirtschaftsforschung an der Universität München
    Publication Date: 2017-08-03
    Description: Die Weltkonjunktur hat im Gefolge der US-Immobilienkrise und der Turbulenzen an den internationalen Finanzmärkten an Dynamik eingebüßt. Das vom ifo Institut erhobene Weltwirtschaftsklima hat sich im zweiten Quartal 2008 massiv verschlechtert; der Indikator fiel auf den niedrigsten Stand seit über sechs Jahren. Der Rückgang resultiert vor allem aus der ungünstigeren Einschätzung der derzeitigen wirtschaftlichen Lage, aber auch die Erwartungen für die nächsten sechs Monate wurden weiter nach unten revidiert. Die Verschlechterung des ifo Weltwirtschaftsklimas betrifft wiederum vor allem Nordamerika und Westeuropa. Der stärkste Rückgang des Klimaindikators ist wie schon in der vorangegangenen Umfrage in den USA zu verzeichnen. Die Expansion der Weltwirtschaft wird sich im Prognosezeitraum spürbar abkühlen. Der Anstieg des Bruttoinlandsprodukts wird sich verlangsamen, da der Höhepunkt des konjunkturellen Zyklus überschritten zu sein scheint. Zudem werden die anhaltende Unsicherheit auf den Finanzmärkten, die negativen Vermögenseffekte sinkender Hauspreise und Aktienkurse, die hohe Inflation sowie die zuletzt stark gestiegenen Ölpreise zunehmend bremsend wirken. Die deutsche Wirtschaft ist überaus schwungvoll in das neue Jahr gestartet. Nach den bisher vorliegenden amtlichen Ergebnissen stieg die gesamtwirtschaftliche Produktion im ersten Quartal 2008 saison- und kalenderbereinigt gegenüber dem Vorquartal um 1,5%. Nach der auch von Sondereffekten begünstigten kräftigen Ausweitung der gesamtwirtschaftlichen Produktion im ersten Quartal 2008 ist für das zweite Quartal mit einem leichten Rückgang des realen Bruttoinlandsprodukts zu rechnen. Im Durchschnitt des ersten Halbjahres 2008 ergibt sich im Vergleich zum zweiten Halbjahr 2007 saison- und kalenderbereinigt ein BIP-Zuwachs von 1,5%; im Vorjahresvergleich beläuft sich die Zunahme auf 2,7%.
    Keywords: F01 ; O00 ; ddc:330 ; Konjunktur ; Konjunkturumfrage ; Konjunkturprognose ; Wirtschaftslage ; Geschäftsklima ; Weltkonjunktur ; Deutschland ; Welt
    Language: German
    Type: doc-type:article
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 5
    facet.materialart.
    Unknown
    Davis, CA: University of California, Department of Economics
    Publication Date: 2018-06-28
    Description: The work of Levine and Renelt (1992) and Sala-i-Martin (1997a, b) which attempted to test the robustness of various determinants of growth rates of per capita GDP among countries using two variants of Edward Leamerâ??s extreme-bounds analysis is reexamined. In a realistic Monte Carlo experiment in which the universe of potential determinants is drawn from those in Levine and Reneltâ??s study, both versions of the extreme-bounds analysis are evaluated for their ability to recover the true specification. Levine and Reneltâ??s method is shown to have low size and extremely low power: nothing is robust; while Sala-i-Martinâ??s method is shown to have high size and high power: it is undiscriminating. Both methods are compared to a cross-sectional version of the generalto-specific search methodology associated with the LSE approach to econometrics. It is shown to have size near nominal size and high power. Sala-i-Martinâ??s method and the general-to-specific method are then applied to the actual data from the original two studies. The results are consistent with the Monte Carlo results and are suggestive that the factors that most affect differences of growth rates are ones that are beyond the control of policymakers.
    Keywords: C8 ; O4 ; ddc:330 ; growth ; cross-country growth regressions ; extreme-bounds analysis ; general-to-specific specification search ; Wirtschaftswachstum ; Regression ; Vergleich ; Welt
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 6
    facet.materialart.
    Unknown
    Santa Cruz, CA: University of California, Santa Cruz Institute for International Economics (SCIIE)
    Publication Date: 2018-06-28
    Description: Computer and Internet use, especially in developing countries, has expanded rapidly in recent years. Even in light of this expansion in technology adoption rates, penetration rates differ markedly between developed and developing countries and across developing countries. To identify the determinants of cross-country disparities in personal computer and Internet penetration, both currently and over time, we examine panel data for 161 countries over the 1999-2004 period. We explore the role of a comprehensive set of economic, demographic, infrastructure, institutional and financial factors in contributing to the global digital divide. We find evidence indicating that income, human capital, the youth dependency ratio, telephone density, legal quality and banking sector development are associated with technology penetration rates. Overall, the factors associated with computer and Internet penetration do not differ substantially between developed and developing countries. Estimates from Blinder-Oaxaca decompositions reveal that the main factors responsible for low rates of technology penetration rates in developing countries are disparities in income, telephone density, legal quality and human capital. In terms of dynamics, our results indicate fairly rapid reversion to long run equilibrium for Internet use, and somewhat slower reversion for computer use, particularly in developed economies. Financial development, either measured as bank lending or the value of stocks traded, is also important to the growth rate of Internet use.
    Keywords: O30 ; L96 ; ddc:330 ; technology ; development ; digital divide ; internet ; computers ; Informationstechnik ; Internet ; Entwicklungsländer ; Welt
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 7
    facet.materialart.
    Unknown
    Santa Cruz, CA: University of California, Economics Department
    Publication Date: 2018-06-28
    Description: We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma during the post Bretton-Woods period. The paper first outlines the new metrics for measuring the degree of exchange rate flexibility, monetary independence, and capital account openness while taking into account the recent development of substantial international reserve accumulation. The evolution of our 'trilemma indexes' illustrates that, after the early 1990s, industrialized countries accelerated financial openness, but reduced the extent of monetary independence while sharply increasing exchange rate stability, all reflecting the introduction of the euro. In contrast, emerging market countries pursued exchange rate stability as their key priority up to the late 1980s while non-emerging market developing countries has pursued it throughout the period since 1970. As a stark difference from the latter group of countries, emerging market countries have converged towards intermediate levels of all three indexes, characterizing managed flexibility while retaining some degree of monetary autonomy and accelerating financial openness. This recent trend appears to be sustained by using sizable international reserves as a buffer. We also confirm that the weighted sum of the three indexes adds up to a constant, validating the notion that a rise in one trilemma variable should be traded-off with a drop of the weighted sum of the other two. The second part of the paper deals with normative aspects of the trilemma, relating the policy choices to macroeconomic outcomes such as the volatility of output growth and inflation, and medium term inflation rates. Some key findings for developing countries include: (i) greater monetary independence can dampen output volatility while greater exchange rate stability implies greater output volatility, which can be mitigated by reserve accumulation; (ii) greater monetary autonomy is associated with a higher level of inflation while greater exchange rate stability and greater financial openness could lower the inflation level; (iii) a policy pursuit of stable exchange rate while financial development is at the medium level can increase output volatility, (iv) greater financial openness with a high level of financial development can reduce output volatility, though greater financial openness with a low level of financial development can be volatility-increasing; (v) net inflow of portfolio investment and bank lending can increase output volatility and higher levels of short-term debt or total debt services can increase both the level and the volatility of inflation.
    Keywords: F15 ; F21 ; F31 ; F36 ; F41 ; O24 ; ddc:330 ; impossible trinity ; international reserves ; financial liberalization ; exchange rate ; FDI flows ; Internationaler Finanzmarkt ; Wechselkurssystem ; Flexibler Wechselkurs ; Geldpolitik ; Kapitalmarktregulierung ; Gesamtwirtschaftliche Produktion ; Welt
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 8
    facet.materialart.
    Unknown
    Zurich: University of Zurich, Department of Economics
    Publication Date: 2018-06-28
    Description: We study a structural model of R&D alliance networks in which firms jointly form R&D collaborations to lower their production costs while competing on the product market. We derive the Nash equilibrium of this game, provide a welfare analysis and determine the optimal R&D subsidy program that maximizes total welfare. We also identify the key firms, i.e. the firms whose exit would reduce welfare the most. We then structurally estimate our model using a panel dataset of R&D collaborations and annual company reports. We use our estimates to identify the key firms and analyze the impact of R&D subsidy programs. Moreover, we analyze temporal changes in the rankings of key firms and how these changes affect the optimal R&D policy.
    Keywords: D85 ; L24 ; O33 ; ddc:330 ; R&D networks ; key firms ; optimal subsidies ; Industrieforschung ; Forschungskooperation ; Unternehmensnetzwerk ; Nash-Gleichgewicht ; Forschungsfinanzierung ; Wohlfahrtsanalyse ; Theorie ; Welt
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 9
    facet.materialart.
    Unknown
    Cham: Springer Open
    Publication Date: 2019-01-28
    Description: This authoritative book presents the ever progressing state of the art in evaluating climate change strategies and action. It builds upon a selection of relevant and practical papers and presentations given at the 2nd International Conference on Evaluating Climate Change and Development held in Washington DC in 2014 and includes perspectives from independent evaluations of the major international organisations supporting climate action in developing countries, such as the Global Environment Facility. The first section of the book sets the stage and provides an overview of independent evaluations, carried out by multilateral development banks and development organisations. Important topics include how policies and organisations aim to achieve impact and how this is measured, whether climate change is mainstreamed into other development programs, and whether operations are meeting the urgency of climate change challenges. The following sections focus on evaluation of climate change projects and policies as they link to development, from the perspective of international organisations, NGO's, multilateral and bilateral aid agencies, and academia. The authors share methodologies or approaches used to better understand problems and assess interventions, strategies and policies. They also share challenges encountered, what was done to solve these and lessons learned from evaluations. Collectively, the authors illustrate the importance of evaluation in providing evidence to guide policy change to informed decision-making.
    Keywords: ddc:330 ; Adaption and community resilience ; Forestation ; Mitigation and climate ; Process in agriculture and food security ; Renewable energy systems ; Klimawandel ; Nachhaltige Entwicklung ; Klimapolitik ; Welt
    Language: English
    Type: doc-type:book
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 10
    facet.materialart.
    Unknown
    Davis, CA: University of California, Department of Economics
    Publication Date: 2018-12-10
    Description: Foreign currency debt is widely believed to increase risks of financial crisis, especially after being implicated as a cause of the East Asian crisis in the late 1990s. In this paper, we study the effects of foreign currency debt on currency and debt crises and its indirect effects on short-term growth and long-run output effects in both 1880-1913 and 1973-2003 for 45 countries. Greater ratios of foreign currency debt to total debt is associated with increased risks of currency and debt crises, although the strength of the association depends crucially on the size of a country's reserve base and its policy credibility. We found that financial crises, driven by exposure to foreign currency, resulted in significant permanent output losses. We estimate some implications of our findings for the risks posed by currently high levels of foreign currency liabilities in Eastern Europe.
    Keywords: F34 ; F36 ; F43 ; N10 ; ddc:330 ; foreign currency debt ; currency crises ; sudden stops ; financial development ; Auslandsverschuldung ; Finanzmarktkrise ; Wirtschaftswachstum ; Welt
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
Close ⊗
This website uses cookies and the analysis tool Matomo. More information can be found here...