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Author: Mr.David Woo
Publisher: International Monetary Fund
ISBN: 1451841884
Category : Business & Economics
Languages : en
Pages : 29
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Book Description
The seeming failure of loose monetary policy to reactivate Japan’s economy has led some observers to suggest that the usual credit channels through which monetary policy affects the real economy are blocked, and this because of a pervasive shortage of bank capital that has induced a leftward shift in the supply of bank credit: the so called credit crunch hypothesis. This paper finds support for the hypothesis in the 1997 bank data—a year during which the landscape of the Japanese financial system was changed fundamentally—but finds no, or even contrary, evidence, for most of the 1990’s.
Author: Mr.David Woo
Publisher: International Monetary Fund
ISBN: 1451841884
Category : Business & Economics
Languages : en
Pages : 29
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Book Description
The seeming failure of loose monetary policy to reactivate Japan’s economy has led some observers to suggest that the usual credit channels through which monetary policy affects the real economy are blocked, and this because of a pervasive shortage of bank capital that has induced a leftward shift in the supply of bank credit: the so called credit crunch hypothesis. This paper finds support for the hypothesis in the 1997 bank data—a year during which the landscape of the Japanese financial system was changed fundamentally—but finds no, or even contrary, evidence, for most of the 1990’s.
Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
ISBN: 1616405414
Category : Political Science
Languages : en
Pages : 692
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Book Description
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Author: Cédric Durand
Publisher: Verso Books
ISBN: 1784787213
Category : Political Science
Languages : en
Pages : 177
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Book Description
How finance is a mechanism of social and political domination The 2007–08 credit crisis and the long recession that followed brutally exposed the economic and social costs of financialization. Understanding what lay behind these events, the rise of “fictitious capital” and its opaque logic, is crucial to grasping the social and political conditions under which we live. Yet, for most people, the operations of the financial system remain shrouded in mystery. In this lucid and compelling book, economist Cédric Durand offers a concise and critical introduction to the world of finance, unveiling the truth behind the credit crunch. Fictitious Capital moves beyond moralizing tales about greedy bankers, short-sighted experts and compromised regulators to look at the big picture. Using comparative data covering the last four decades, Durand examines the relationship between trends such as the rise in private and public debt and the proliferation of financial products; norms such as our habitual assumptions about the production of value and financial stability; and the relationship of all this to political power. Fictitious Capital offers a stark warning about the direction that the international economy is taking. Durand argues that the accelerated expansion of financial operations is a sign of the declining power of the economies of the Global North. The City, Wall Street and other centres of the power of money, he suggests, may already be caked with the frosts of winter.
Author: Mr.Sami Ben Naceur
Publisher: International Monetary Fund
ISBN: 1484354478
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
The 1988 Basel I Accord set the common requirements of bank capital to promote the soundness and stability of the international banking system. The agreement required banks to hold capital in proportion to their perceived credit risks, and this requirement may have caused a “credit crunch,” a significant reduction in the supply of credit. We investigate the direct link between the implementation of the Basel I Accord and lending activities, using a data set spanning annual observations covering 1989–2004 for banks in Egypt, Jordan, Lebanon, Morocco, and Tunisia. The results provide clear support for a significant increase in credit growth following the implementation of capital regulations, in general. Despite higher capital adequacy ratios, banks expanded credit and asset growth. Credit growth appears to be driven by demand fluctuations attributed to real growth, cost of borrowing, and exchange rate risk. Overall, the effects of macroeconomic variables, in contrast to capital adequacy, appear to be more dominant in determining credit growth, regardless of the capital adequacy ratio, and regardless of variation across banks by nationality, ownership, and listing.
Author: R. Rajan
Publisher: Springer
ISBN: 0230306276
Category : Business & Economics
Languages : en
Pages : 183
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Book Description
This book on the different aspects of international economic policy covers financial crises, reserve accumulation, capital flows and currency wars as well as issues relating to foreign direct investment and developments in China and India.
Author: Mr.Giovanni Dell'Ariccia
Publisher: International Monetary Fund
ISBN: 1484324897
Category : Business & Economics
Languages : en
Pages : 45
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Book Description
We study bank portfolio allocations during the transition of the real sector to a knowledge economy in which firms use less tangible capital and invest more in intangible assets. We show that, as firms shift toward intangible assets that have lower collateral values, banks reallocate their portfolios away from commercial loans toward other assets, primarily residential real estate loans and liquid assets. This effect is more pronounced for large and less well capitalized banks and is robust to controlling for real estate loan demand. Our results suggest that increased firm investment in intangible assets can explain up to 20% of bank portfolio reallocation from commercial to residential lending over the last four decades.
Author: RoSusan D. Bartee
Publisher: IAP
ISBN: 1617353655
Category : Education
Languages : en
Pages : 241
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Book Description
The edited volume, Contemporary Perspectives on Capital in Educational Contexts, is timely in its unique and appropriate analyses of the prevailing internal and external dynamics of capital as indicative of the type of currency within institutional structures or the currency among individual stakeholders of education. The intersection of capital and currency emerges similarly and differently within the American compulsory-based system of K-12 and the choice-based system of higher education. More specifically, Contemporary Perspectives on Capital in Educational Contexts disentangles the broader challenges and opportunities of the institution of education and the individuals who comprise. Emerging insights from the analyses provide an informed basis for ascertaining the rules of engagement and means of negotiation for the respective constituencies. With that said, this volume essentially responds to three important questions: 1) What are the tenets of capital and currency in public schools and higher education?; 2 ) How do institutions and individuals navigate those tenets?; and 3) What general and specific implications do capital hold for the educational pipeline and beyond? These questions provide a useful framework for engaging critical conversations about the dynamics of capital while offering perspectives about how to improve the quality of currency in K-12 or colleges and universities. These questions further serve as a basis for eliciting more questions toward the consideration capital as both a conceptual construct and applicable model. Contemporary Perspectives on Capital in Educational Contexts, too, is an expansion of the work of School matters: Why African American students need multiple forms of capital, where Bartee & Brown (2006) examines how the acquisition and possession of capital equips African American students in a highperforming, high-achieving magnet school in Chicago for competitiveness in school-generated and non-school generated activities. Success experienced by the students and the school become associated with the academic rigor and reputation while any shortcomings reflect an inadequate capacity of the school or the student to appropriately engage the other. School matters: Why African American students need multiple forms of capital (2006) further introduces an initial exploration of different forms of capital as producer (improve the status quo through inputs), consumer (participant based upon outputs), and regulator (maintain the status quo through the process) within the educational system. The multifaceted role of capital demonstrates its span of influence for institutional and individual capacities.
Author: Ben S. Bernanke
Publisher: MIT Press
ISBN: 9780262522717
Category : Business & Economics
Languages : en
Pages : 398
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Book Description
The goals of the annual NBER Macroeconomics Conference are to present, extend, and apply frontier work in macroeconomics and to stimulate work by macroeconomists in policy issues. Each paper in the Annual is followed by comments and discussion. The goals of the annual NBER Macroeconomics Conference are to present, extend, and apply frontier work in macroeconomics and to stimulate work by macroeconomists in policy issues. Each paper in the Annual is followed by comments and discussion.
Author: Emmanuel Haven
Publisher: Springer
ISBN: 1137494492
Category : Business & Economics
Languages : en
Pages : 334
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Book Description
The 2008 financial crisis was a watershed moment which clearly influenced the public's perception of the role of 'finance' in society. Since 2008, a plethora of books and newspaper articles have been produced accusing the academic community of being unable to produce valid models which can accommodate those extreme events. This unique Handbook brings together leading practitioners and academics in the areas of banking, mathematics, and law to present original research on the key issues affecting financial modelling since the 2008 financial crisis. As well as exploring themes of distributional assumptions and efficiency the Handbook also explores how financial modelling can possibly be re-interpreted in light of the 2008 crisis.
Author: Allen N. Berger
Publisher: OUP Oxford
ISBN: 0191002194
Category : Business & Economics
Languages : en
Pages : 1105
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Book Description
The Oxford Handbook of Banking, Second Edition provides an overview and analysis of developments and research in banking written by leading researchers in the field. This handbook will appeal to graduate students of economics, banking and finance, academics, practitioners, regulators, and policy makers. Consequently, the book strikes a balance between abstract theory, empirical analysis, and practitioner, and policy-related material. The Handbook is split into five parts. Part I, The Theory of Banking, examines the role of banks in the wider financial system, why banks exist, how they function, and their corporate governance and risk management practices. Part II deals with Bank Operations and Performance. A range of issues are covered including bank performance, financial innovation, and technological change. Aspects relating to small business, consumer, and mortgage lending are analysed together with securitization, shadow banking, and payment systems. Part III entitled Regulatory and Policy Perspectives discusses central banking, monetary policy transmission, market discipline, and prudential regulation and supervision. Part IV of the book covers various Macroeconomic Perspectives in Banking. This part includes a discussion of systemic risk and banking and sovereign crises, the role of the state in finance and development as well as how banks influence real economic activity. The final Part V examines International Differences in Banking Structures and Environments. This part of the Handbook examines banking systems in the United States, European Union, Japan, Africa, Transition countries, and the developing nations of Asia and Latin America.
