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Author: Darrell Duffie
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3110673053
Category : Business & Economics
Languages : en
Pages : 94
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Book Description
Post-crisis capital regulations and new failure-resolution rules increased the funding costs that are borne by bank shareholders, and thus the cost to buy-side firms for access to space on the balance sheets of large banks. A policy implication is the encouragement of market infrastructure and trading methods that reduce the amount of space on bank balance sheets that is needed to conduct a given amount of trade. Using models and evidence, this book addresses the implications for financial-market liquidity of these regulations for systemically important banks and argues that current rules do not allow for potential levels of market efficiency and financial stability. In this insightful analysis of the impact of regulation on financial market efficiency post-2008, the author argues that bank capital levels could actually be pushed higher while still improving the liquidity of markets for safe assets such as low-risk fixed-income instruments by relaxing the leverage-ratio rule and increasing risk-based capital requirements.
Author: Darrell Duffie
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3110673053
Category : Business & Economics
Languages : en
Pages : 94
Get Book Here
Book Description
Post-crisis capital regulations and new failure-resolution rules increased the funding costs that are borne by bank shareholders, and thus the cost to buy-side firms for access to space on the balance sheets of large banks. A policy implication is the encouragement of market infrastructure and trading methods that reduce the amount of space on bank balance sheets that is needed to conduct a given amount of trade. Using models and evidence, this book addresses the implications for financial-market liquidity of these regulations for systemically important banks and argues that current rules do not allow for potential levels of market efficiency and financial stability. In this insightful analysis of the impact of regulation on financial market efficiency post-2008, the author argues that bank capital levels could actually be pushed higher while still improving the liquidity of markets for safe assets such as low-risk fixed-income instruments by relaxing the leverage-ratio rule and increasing risk-based capital requirements.
Author: Scott McCleskey
Publisher: Butterworth-Heinemann
ISBN: 9780750657457
Category : Business & Economics
Languages : en
Pages : 184
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Book Description
Providing an overview of the infrastructure of European Securities markets, this text offers topical analysis of developments and trends in market integration. The author provides industry professionals with a concise exposition of how the post-Euro market works, as well as offering laymen an entry point into the subject. Topics include: wholesale electronic execution; central counterpart clearing; and consolidation of the securities depositories.
Author: Steve Sammartino
Publisher: John Wiley & Sons
ISBN: 0730312704
Category : Business & Economics
Languages : en
Pages : 197
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Book Description
Doing business in the digital age The Great Fragmentation: And Why the Future of All Business is Small is a business survival manifesto for the technology revolution. As the world moves from the industrial era to the digital age, power is shifting and fragmenting. Power is no longer about might and ownership; power in a digital world is about access. Existing businesses need to understand this shift and position themselves to survive and thrive in an environment where entrepreneurs and start-ups enabled by access to technology are genuine threats. Author Steve Sammartino is widely regarded as a thought leader on the subject of technology and business, and helps companies transition from industrial-era thinking to the mindset and processes required to compete in today's digital marketplace. The Great Fragmentation shows how technological changes such as Big Data, gamification, crowdfunding, Bitcoin, 3D printing, social media, mashup culture and artisanal production will forever change business and the way we live our lives. Examine how the digital era has altered where we work, how we work, where we live and what we do Discover how the digital era has impacted social and economic structures, including educational systems, financial systems and government policy Understand that the social media and collecting 'friends' is just the tip of the iceberg in a digital business environment Weaving together insights from business, technology and anthropology, The Great Fragmentation provides both corporations and entrepreneurs with a playbook for the future of work, life and business in the digital era.
Author: Scott C. Bradford
Publisher: Peterson Institute for International Economics
ISBN:
Category : Business & Economics
Languages : en
Pages : 116
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Book Description
Annotation How important are the remaining barriers to integration in international goods markets and how would eliminating them affect global and individual countries' welfare? This book studies these questions using the most comprehensive price data available. Bradford and Lawrence find that there is considerable market fragmentation among industrial countries -- that is, firms charging different prices for similar products in different national markets -- even among countries with low tariff barriers. The authors estimate that integration among the eight countries in their sample -- Australia, Canada, Germany, Italy, Japan, the Netherlands, the United Kingdom and the United States -- would raise global GDP by more than $500 billion, or about 2 percent. Remarkably, almost half the global gain in these eight countries could be reaped if Japan alone eliminated its international fragmentation.
Author: Mr. Jorge A Alvarez
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 78
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Book Description
This paper studies the economic impact of fragmentation of commodity trade. We assemble a novel dataset of production and bilateral trade flows of the 48 most important energy, mineral and agricultural commodities. We develop a partial equilibrium framework to assess which commodity markets are most vulnerable in the event of trade disruptions and the economic risks that they pose. We find that commodity trade fragmentation – which has accelerated since Russia’s invasion of Ukraine – could cause large price changes and price volatility for many commodities. Mineral markets critical for the clean energy transition and selected agricultural commodity markets appear among the most vulnerable in the hypothetical segmentation of the world into two geopolitical blocs examined in the paper. Trade disruptions result in heterogeneous impacts on economic surplus across countries. However, due to offsetting effects across commodity producing and consuming countries, surplus losses appear modest at the global level.
Author: Jennifer S. Vey
Publisher: Brookings Institution Press
ISBN: 0815739583
Category : Political Science
Languages : en
Pages : 284
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Book Description
An examination of how the (hyper)local is the locus of real change Many of America’s downtowns, waterfronts, and innovation districts have experienced significant revitalization and reinvestment in recent years, but concentrated poverty and racial segregation remain persistent across thousands of urban, suburban, and rural neighborhoods. The coronavirus pandemic magnified this sustained and growing landscape of inequality. Uneven patterns of economic growth and investment require a shift in how communities are governed and managed. This shift must take into account the changing socioeconomic realities of regions and the pressing need to bring inclusive economic growth and prosperity to more people and places. In this context, place-based (“hyperlocal”) governance structures in the United States and around the globe have been both part of the problem and part of the solution. These organizations range from community land trusts to business improvement districts to neighborhood councils. However, very little systematic research has documented the full diversity and evolution of these organizations as part of one interrelated field. Hyperlocal helps fill that gap by describing the challenges and opportunities of “place governance.” The chapters in Hyperlocal explore both the tensions and benefits associated with governing places in an increasingly fragmented—and inequitable—economic landscape. Together they explore the potential of place governance to give stakeholders a structure through which to share ideas, voice concerns, advocate for investments, and co-design strategies with others both inside and outside their place. They also discuss how place governance can serve the interests of some stakeholders over others, in turn exacerbating wealth-based inequities within and across communities. Finally, they highlight innovative financing, organizing, and ownership models for creating and sustaining more effective and inclusive place governance structures. The authors hope to provoke new thinking among place governance practitioners, policymakers, private sector leaders, urban planners, scholars, students, and philanthropists about how, why, and for whom place governance matters. The book also provides guidance on how to improve place governance practice to benefit more people and places.
Author: Hau Harald
Publisher: International Monetary Fund
ISBN: 1498303773
Category : Business & Economics
Languages : en
Pages : 45
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Book Description
New regulatory data reveal extensive price discrimination against non-financial clients in the FX derivatives market. The client at the 90th percentile pays an effective spread of 0.5%, while the bottom quarter incur transaction costs of less than 0.02%. Consistent with models of search frictions in over-the-counter markets, dealers charge higher spreads to less sophisticated clients. However, price discrimination is eliminated when clients trade through multi-dealer request-for-quote platforms. We also document that dealers extract rents from captive clients and market opacity, but only for contracts negotiated bilaterally with unsophisticated clients.
Author: Klaus Backhaus
Publisher: Bloomsbury Publishing
ISBN: 0230214460
Category : Business & Economics
Languages : en
Pages : 480
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Book Description
International Marketing is an adaptation of a best-selling German text, which considers the global marketing arena from a new and original perspective. It focuses upon international marketing primarily as the coordination of a company's different national marketing programmes. How can for example an exchange of marketing knowledge across borders add value to a company's position in other markets? What impact does the exchange of goods and information across borders by customers have? What effect can 'going international' have on an international cost position? How can lead markets act as a guide to future developments in other countries? International Marketing takes a comprehensive look at all the underlying concepts, using a wealth of truly European examples and substantial case studies.
Author: Einer Elhauge
Publisher: Oxford University Press, USA
ISBN: 019539013X
Category : Health & Fitness
Languages : en
Pages : 397
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Book Description
Why is the American health care system so fragmented in the care it gives patients? This title approaches this question and more with a highly interdisciplinary approach. The articles included in the work address legal and regulatory issues, including laws that mandate separate payments for each provider.
Author: Peter Scott
Publisher: Oxford University Press
ISBN: 0191086355
Category : History
Languages : en
Pages : 385
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Book Description
During the twentieth century 'affluence' (both at the level of the individual household and that of society as a whole) became intimately linked with access to a range of prestige consumer durables. The Market Makers charts the inter-war origins of a process that would eventually transform these features of modern life from being 'luxuries' to 'necessities' for most British families. Peter Scott examines how producers and retailers succeeded in creating 'mass' (though not universal) market for new suites of furniture, radios, modern housing, and some electrical and gas appliances, while also exploring why some other goods, such as refrigerators, telephones, and automobiles, failed to reach the mass market in Britain before the 1950s. Creating mass markets presented a formidable challenge for manufacturers and retailers. Consumer durables required large markets. Most involved significant research and development costs. Some, such as the telephone, radio, and car, were dependent on complementary investments in infrastructure. All required intensive marketing - usually including expensive advertising in national newspapers and magazines, while some also needed mass production methods (and output volumes) to make them affordable to a mass market. This study charts the pioneering efforts of entrepreneurs (many of whom, though once household names, are now largely forgotten) to provide consumer durables at a price affordable to a mass market and to persuade a sometimes reluctant public to embrace the new products and the consumer credit that their purchase required. In doing so, Scott shows that, contrary to much received wisdom, there was a 'consumer durables revolution' in inter-war Britain - at least for certain highly prioritised goods.
