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Mission Statement
TechRepublic's ITPapers is the Web's largest library of free technical IT white papers, webcasts, and case studies. Covering IT categories including Data Management, IT Management, Networking, Communications, Enterprise Applications, Storage, Security and much more, TechRepublic's White Paper Directory is the best source for technical white papers and IT information.
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White Papers
Assessing The Systemic Risk Of A Heterogeneous Portfolio Of Banks During The Recent Financial Crisis
Oct 2009
This paper extends the approach of measuring and stress-testing the systemic risk of a banking sector in Huang, Zhou, and Zhu (2009) to identifying various sources of financial instability and to...
Provided by Board of Governors of the Federal Reserve System
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White Papers
Designing Loan Modifications To Address The Mortgage Crisis And The Making Home Affordable Program
Oct 2009
Delinquencies on residential mortgages and home foreclosures have risen dramatically in the past couple of years. The mortgage losses triggered a broad-based financial crisis and severe recession,...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Reversing The Trend: The Recent Expansion Of The Reverse Mortgage Market
Sep 2009
Reverse mortgages allow elderly homeowners to tap into their housing wealth with-out having to sell or move out of their homes. However, very few eligible homeowners have used reverse mortgages to...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Determinants Of The Locations Of Payday Lenders, Pawnshops And Check-Cashing Outlets
Jun 2009
A large and growing number of low-to-moderate income U.S. households rely upon alternative financial service providers (AFSPs) for a variety of credit products and transaction services, including...
Provided by Board of Governors of the Federal Reserve System
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Podcasts
Challenges For Measuring Performance
Jan 2010
Sir Andrew Likierman, Professor of Management Practice in Accounting, discusses the challenges involved in accurately measuring performance.
Provided by London Business School
-
White Papers
The Role Of The Securitization Process In The Expansion Of Subprime Credit
Apr 2009
The author analyzes the structure and attributes of subprime mortgage-backed securitization deals originated between 1997 and 2007. The data set allows one to link loan-level data for over 6.7...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
What Is The Chance That The Equity Premium Varies Over Time? Evidence From Predictive Regressions
Apr 2009
This paper examines the evidence on stock return predictability in a Bayesian setting that includes uncertainty about both the existence and strength of predictability. The author considers an...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Interchange Fees And Payment Card Networks: Economics, Industry Developments, And Policy Issues
May 2009
In many countries around the world, electronic card-based payments have been replacing older types of payments at a rapid rate. In the United States, use of both debit cards and credit cards has...
Provided by Board of Governors of the Federal Reserve System
-
Webcasts
John B. Taylor
Mar 2008
The inspiration for the "Taylor Rule," a widely used calculation that guides the monetary policy of central banks as they set short-term interest rates, delivered a lecture to a standing-room-only...
Provided by Northwestern University (Kellogg)
-
White Papers
The Economics Of The Mutual Fund Trading Scandal
Dec 2008
The author examines the economic incentives behind the mutual fund trading scandal, which made headlines in late 2003 with news that several asset management companies had arranged to allow...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Research and development, Profits And Firm Value: A Structural Estimation
Sep 2008
Is the return to private R&D as high as believed? This paper identifies a flaw in the production function approach to estimating the return to R&D. The author provides new estimates based on a...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Does The NEA Crowd Out Private Charitable Contributions To The Arts?
Nov 2007
This paper investigates the mechanism by which the federal government's funding of the arts through National Endowment for the Arts (NEA) displaces private charitable contributions to non-profit...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
The Human Capital That Matters: Expected Returns And The Income Of Affluent Households
Sep 2007
An important critique of the capital asset pricing model (CAPM), first levied by Mayers (1973) and Roll (1977), is that traditional measures of the market portfolio are incomplete since they do...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Footnotes Aren't Enough: The Impact Of Pension Accounting On Stock Values
Jan 2008
Some research has suggested that companies with defined benefit (DB) pensions are sometimes significantly misvalued by the market. This is because the measures of pension cost and pension net...
Provided by Board of Governors of the Federal Reserve System
-
Podcasts
Michael Jacobides - Third Briefing Of The Crisis Compendium Part One
Jan 2010
Associate Professor Michael Jacobides discusses what happened to financial services and how changed industry architecture in the sector led to its collapse.
Provided by London Business School
-
Podcasts
Global Investment Returns Yearbook
Jan 2010
In a new podcast, Paul Marsh, Emeritus Professor of Finance and co-author of the Credit Suisse Global Investment Returns Yearbook, discusses what information on historic investment returns can...
Provided by London Business School
-
Podcasts
Roundtable Briefing On The Current Financial Crisis Part Two Of Four
Jan 2010
In this podcast, Professor Viral Acharya discusses bank equity at an Investment Management Club roundtable briefing on the financial crisis.
Provided by London Business School
-
Podcasts
Why The World Needs More Goldman Sachs
May 2010
Rather than destroy Goldman Sachs, over-regulate them or view them as the source of the global financial meltdown, the more rational approach would be to create an environment in the United States...
Provided by Thunderbird School of Global Management
-
Podcasts
Straight Talk On Goldman Sachs Fraud Allegations
May 2010
Confused about the fraud allegations against Goldman Sachs? Thunderbird Professor F. John Mathis, Ph.D., reviews the allegations and puts them into perspective April 26, 2010. Mathis, director of...
Provided by Thunderbird School of Global Management
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Podcasts
Don't Blame Goldman Sachs: What Really Went Wrong
May 2010
Critics anxious to blame Goldman Sachs as a key player in the recent financial crisis should point the finger elsewhere, Thunderbird Professor F. John Mathis, Ph.D., said April 26, 2010. Mathis,...
Provided by Thunderbird School of Global Management
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Podcasts
Why China Has Fared Well In Global Financial Crisis
Oct 2009
Thunderbird Professor Roe Goddard, Ph.D., sat down this month with Thunderbird Knowledge Network reporter Darien Carroll and discussed China's emergence from the global financial crisis. Goddard...
Provided by Thunderbird School of Global Management
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White Papers
Consensus Forecasts And Inefficient Information Aggregation
Jul 2010
Consensus forecasts are inefficient, over-weighting older information already in the public domain at the expense of new private information, when individual forecasters have different information...
Provided by International Monetary Fund
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White Papers
Some Uncomfortable Arithmetic Regarding Europe's Public Finances
Jul 2010
Traditional fiscal indicators focused on measures of current deficits and debt miss the potentially important implications of current policies for future public finances. This could be...
Provided by International Monetary Fund
-
Podcasts
'Less Bad Is The New Good' With U.S. GDP Numbers
Aug 2009
Gross domestic product numbers in the United States were bad but not horrible in the second quarter of 2009, and Thunderbird Professor F. John Mathis calls that good news. "All these things really...
Provided by Thunderbird School of Global Management
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Podcasts
Marketing Versus Finance: Reconcilable Differences
Apr 2009
Marketers and finance professionals have a "Famously fractious relationship" that sometimes resembles a sibling rivalry, Thunderbird Professor Richard Ettenson, Ph.D., told representatives of both...
Provided by Thunderbird School of Global Management
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White Papers
Does Procyclical Fiscal Policy Reinforce Incentives To Dollarize Sovereign Debt?
Jul 2010
This paper explores the link between the cyclical patterns of macroeconomic and policy variables and the currency composition of domestic sovereign debt in emerging market countries. The empirical...
Provided by International Monetary Fund
-
White Papers
Budget Consolidation: Short-Term Pain And Long-Term Gain
Jul 2010
The paper evaluates the costs and benefits of fiscal consolidation using simulations based on the IMFs global DSGE model GIMF. Over the longer run, well-targeted permanent reductions in budget...
Provided by International Monetary Fund
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White Papers
Automatic Stabilizers And The Size Of Government: Correcting A Common Misunderstanding
Jul 2010
The size of government is a commonly used variable in many analytical studies on the effects of fiscal policy. An accepted practice is to measure it as the ratio of government spending to GDP....
Provided by International Monetary Fund
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Podcasts
More Debt Not The Answer To Economic Downturn
Jan 2009
Government bailout programs designed to soften the landing of a plunging economy will only delay the inevitable, Dallas entrepreneur Scott Walker says Jan. 12 at Thunderbird. "Everything we're...
Provided by Thunderbird School of Global Management
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Podcasts
J.P. Morgan Executive On Sustainable Value Creation
Dec 2008
As managing director of J.P. Morgan's private banking operations in the Middle East, Steve Klemme spends time with many ultra-high-net-worth families. Klemme, a 1985 Thunderbird graduate who lives...
Provided by Thunderbird School of Global Management
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White Papers
The Embodiment Of Intangible Investment Goods: A Q-Theory Approach
Apr 2010
This paper extends the q-theory of investment to model explicitly the decision of firms to invest in intangibles and measures the contribution of intangible goods to the overall capital stock in...
Provided by International Monetary Fund
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White Papers
Basel Core Principles And Bank Risk: Does Compliance Matter?
Mar 2010
The recent financial crisis has sparked widespread calls for reforms of regulation and supervision. The initial reaction to the crisis was one of disbelief: how could such extensive financial...
Provided by International Monetary Fund
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White Papers
Oman: Banking Sector Resilience
Mar 2010
This paper assesses the impact of the global financial risks on Oman's banking system and highlights the remaining risks. It concludes that the liquidity and prudential measures introduced by the...
Provided by International Monetary Fund
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Podcasts
Paul Krugman On Staring Down Depression Economics
May 2009
Edgewise is pleased to bring an extended conversation with Dr. Paul Krugman, Professor of Economics and International Affairs at Princeton University, a regular columnist for the New York Times,...
Provided by American Management Association
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White Papers
Do Currency Fundamentals Matter For Currency Speculators?
Feb 2010
The author compares currency carry trades with an investment strategy based on currency fundamentals: taking a long (short) position in undervalued (overvalued) currencies. Carry trades have high...
Provided by International Monetary Fund
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White Papers
Recovery Determinants Of Distressed Banks: Regulators, Market Discipline, Or The Environment?
Jan 2010
Based on detailed regulatory intervention data among German banks during 1994 - 2008, the author tests if supervisory measures affect the likelihood and the timing of bank recovery. Severe...
Provided by International Monetary Fund
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White Papers
International Pricing Of Emerging Market Corporate Debt: Does The Corporate Matter?
Jan 2010
The pricing of emerging market assets is thought to principally reflect changes in global sentiments and country risk. In turn, country risk is a reflection of a lack of sufficient information,...
Provided by International Monetary Fund
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White Papers
The Outlook For Financing Japan's Public Debt
Jan 2010
Despite the rapid rise in public debt and large fiscal deficits, Japanese Government Bond (JGB) yields have remained fairly stable. Possible factors include: Japan's sizeable pool of household...
Provided by International Monetary Fund
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White Papers
Responding To Banking Crises: Lessons From Cross-Country Evidence
Jan 2010
A common legacy of banking crises is a large increase in government debt, as fiscal resources are used to shore up the banking system. Do crisis response strategies that commit more fiscal...
Provided by International Monetary Fund
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White Papers
Inflation In Tajikistan: Forecasting Analysis And Monetary Policy Challenges
Jan 2010
This paper attempts to explain short- and long-term dynamics of - and forecast - inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model...
Provided by International Monetary Fund
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White Papers
Save Money By De-Cluttering Your Home: How Cleaning Up Can Help Your Finances
Jan 2010
De-cluttering your home can make it more inviting, reduce your stress and help you avoid health problems aggravated by mold or dirt. But did you know that it could lower your costs and even earn...
Provided by Bank of America
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White Papers
Keeping Your Debt Load Manageable: How Understanding Your Debt-To-Income Ratio Can Help
Jan 2010
Keeping your debt at a manageable level is one of the foundations of good financial health. But how can you tell when your debt is starting to get out of control? You don't want to wait until you...
Provided by Bank of America
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White Papers
How To Get Information About Borrowing Money
Jan 2010
The ways you can borrow money are almost as diverse as the ways you can spend it. If you are thinking about borrowing money, make sure you know all your lending options. No matter your reason for...
Provided by Bank of America
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White Papers
Introduction To Estate Planning: Get Started On Putting Your Affairs In Order
Jan 2010
As you get older, you'll likely start thinking about putting your affairs in order. This will help avoid family conflict, allow you to name who will make health and financial decisions on your...
Provided by Bank of America
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White Papers
Living On One Income: 6 Strategies: How To Make Ends Meet With One Paycheck
Jan 2010
There's no better tool for managing your money than a budget. Looking over your monthly statements from Online Bill Pay1 is a great way to get a handle on where your money is going. Also keep a...
Provided by Bank of America
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White Papers
Create Your Own Savings Plan: Our Savings Plan Spreadsheet Helps You Reach Your Goals
Jan 2010
Being able to pay for the things you want in life without taking on too much debt is one of the best benefits of careful financial planning. And it's not just a perk of having a large income....
Provided by Bank of America
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White Papers
Living On A Budget - The Envelope System
Jan 2010
Being on a budget takes discipline but it doesn't mean you have to give up the things you love. In fact, it can help you stretch your money further, giving you peace of mind in a tough economy....
Provided by Bank of America
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White Papers
10 Ways To Save Money
Jan 2010
These days, flashy living is out, and careful spending is in. Many people are discovering that, once they get used to living within their means, they're less stressed out by the economy. Take...
Provided by Bank of America
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White Papers
Risk Management: The Current Financial Crisis, Lessons Learned And Future Implications
Dec 2008
The current financial crisis presents a case study of a "Financial tsunami" (as former Federal Reserve Chairman Alan Greenspan recently called it) on what can go wrong. Its ramifications are...
Provided by LRP Publications
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White Papers
Customer Profitability Vs. Customer Satisfaction: Keep Guessing Or Model Your Pricing Strategies
Jan 2010
Most Financial Institutions do not have a clear understanding of what or who drives their profitability. They make assumptions or guesswork, and most of the time, try and fix their profitability...
Provided by SunTec Business Solutions
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White Papers
Robust Controls For Network Revenue Management
Sep 2007
Revenue management models traditionally assume that future demand is unknown, but can be represented by a stochastic process or a probability distribution. Demand is however often difficult to...
Provided by University of California, Los Angeles (Anderson)
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White Papers
A Decision Analysis Tool For Evaluating Fundraising Tiers
Jan 2009
This paper presents a utility function model of donors who need to determine their donation to a charity organization that structures and publishes donations by tiers. By considering the prestige...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Flight-From-Leverage In Distressed Financial Markets
Aug 2008
Financial crises are often accompanied by a flight-from-leverage as levered investors realize that they are overextended in a distressed market and try to reduce their funding risk. The author...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Prudential Discipline For Financial Firms: Micro, Macro, And Market Structures
Dec 2009
The recent global financial crisis reflects numerous breakdowns in the prudential discipline of financial firms. This paper discusses ways to strengthen micro- and macroprudential supervision and...
Provided by Asian Development Bank Institute
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White Papers
Liberalization And Regulation Of Capital Flows: Lessons For Emerging Market Economies
Jan 2010
Capital flows to Emerging Market Economies (EMEs) have been characterized by high volatility since the 1980s. In recent years (especially since 2003), although gross as well as net capital flows...
Provided by Asian Development Bank Institute
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White Papers
Monetary Policy Strategies In The Asia And Pacific Region: What Way Forward?
Feb 2010
Monetary policy frameworks in the Asia and Pacific region have performed well in the past decade as judged by inflation outcomes. The authors argue that this is due to three principal factors: (i)...
Provided by Asian Development Bank Institute
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White Papers
Regional Monitoring Of Capital Flows And Coordination Of Financial Regulation: Stakes And Options For Asia
Feb 2010
The ongoing global economic crisis has punished Asian economies severely, despite the fact that its origins derive from outside the region. The global economic crisis was transmitted through real...
Provided by Asian Development Bank Institute
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White Papers
The Financial Crisis, Rethinking Of The Global Financial Architecture, And The Trilemma
Apr 2010
This paper extends the previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. The authors examine the channels through which the trilemma policy...
Provided by Asian Development Bank Institute
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White Papers
Monetizing Accounts Receivable Into Cash
Jun 2009
Financial executives and business owners know the value working capital provides to their companies. The most efficient use of working capital offers companies greater financial flexibility and...
Provided by Receivables Exchange
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White Papers
10 Ways Companies May Improve Their Working Capital Position
Oct 2009
Working capital is a highly effective barometer of a company's operational and financial efficiency and effectiveness. The better its condition, the better positioned a company is to focus on...
Provided by Financial Solutions Group
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White Papers
Strategies For High-Yield Working Capital In Today's Economic Environment
Aug 2008
News flashes like these are by no means unusual these days. The harsh reality of today's economic environment is bringing the importance of working capital management to the forefront for buyers...
Provided by Ariba
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Webcasts
Biz Quiz: Lawrence Gelburd And Phil Town
Jan 2010
Lawrence Gelburd, an instructor at the Wharton School of Business, and Phil Town, investment advisor and author of "Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a...
Provided by American Express
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White Papers
Management Earnings Forecasts: A Review And Framework
Jan 2008
In this paper, author provides a framework in which to view management earnings forecasts. By evaluating management earnings forecast research within the context of this framework, author renders...
Provided by University of Texas at Austin (McCombs)
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White Papers
Self-Selection And The Forecasting Abilities Of Female Equity Analysts
May 2009
This paper investigates whether there are systematic differences between the forecasting style and abilities of female and male analysts, and whether market participants recognize these...
Provided by University of Texas at Austin (McCombs)
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White Papers
Libertarian Paternalism, Information Sharing, And Financial Decision-Making
Mar 2010
Author developed a theoretical model to study the welfare effects of libertarian paternalism on information acquisition, social learning, and financial decision-making. Individuals in the model...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Are Securities Class-Action Suits Anticipated By Investors?
Jul 2008
Securities class-action lawsuits have become more highly contentious as of late. Plaintiff's attorneys claim they keep Wall Street accountable. Business executives complain that suits are lining...
Provided by Southern Methodist University
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White Papers
Short Selling Shows Alpha In Mutual Funds
Apr 2009
Hedge funds have historically used short selling as a trading strategy, while mutual funds have generally not permitted the practice. But, mutual funds are increasingly allowing their managers to...
Provided by Southern Methodist University
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White Papers
Parsing The Financial Crisis: First Evidence Of A Lost Decade
Feb 2010
Many financial experts classify this recent financial crisis as the most severe since the Great Depression. The authors analyze the trading difficulties for institutional investors, market...
Provided by Southern Methodist University
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White Papers
Traders, Brokers, And Money: The Past Is Your Present And Future
Apr 2010
With Wall Street bonuses under the spotlight, new evidence on the performance of Wall Street traders offers more nuance. Trillions of dollars in stocks are traded month after month in financial...
Provided by Southern Methodist University
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White Papers
The Credit Default Swap Market's Reaction To Earnings Announcements
Mar 2008
This paper examines the efficiency of the CDS market by conducting a comparative event study in which both the CDS and the stock markets" responses to earnings announcements are considered. The...
Provided by Fordham University
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White Papers
The Credit Default Swap Market's Determinants
Mar 2008
This paper explores the ability of variables suggested by structural models to explain variation in CDS spread changes. Using monthly changes in CDS spreads for 333 firms from January, 2001 -...
Provided by Fordham University
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White Papers
Supply Chains and Segment Profitability: How Input Pricing Creates a Latent Cross-Segment Subsidy
Aug 2009
Recent years have seen an increasing emphasis on developing more precise accounting measures of market- and customer-level profitability. These efforts are aimed at helping prune unprofitable...
Provided by Ohio State University (Fisher)
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White Papers
How Firms' Capital Budgeting Methods Differ As Knightian Uncertainty And Controversy Vary: Bower And Brealey & Myers Are Both Right, Sometimes
Jul 2009
Capital budgeting is a contentious subject in both research and managerial practice. Financial economists such as Brealy & Myers advocate using NPV and related quantitative approaches that...
Provided by Duke University (Fuqua-Global)
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White Papers
The Pack Mentality: A Behavioral Finance View Of Stock Price Comovement
Jan 2010
By looking carefully at data on individual stock prices, it is easy to find many examples of "Comovement"-groups of stocks whose prices tend to move together. For instance, prices of stocks in the...
Provided by University of Chicago (Booth)
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White Papers
Earnings Announcements Are Full Of Surprises
Jan 2008
The Earnings Announcement Return (EAR) captures the market reaction to unexpected information contained in the company's earnings release. Besides the actual earnings news, this includes...
Provided by Duke University (Fuqua-Global)
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White Papers
Working Capital In Times Of Financial Crisis: Three Trade Credit Strategies
Nov 2008
Credit is a difficult issue these days. In the US, firms generate more than 15% of their financing from accounts payable. Internationally, these levels can be even higher. And since more than 80%...
Provided by IMD
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White Papers
Harnessing People Power
Jan 2010
When resources are scarce, human capital becomes a vital resource for success. In entities where resources are scarce - such as small non-natural resource economies like Hong Kong or Singapore, or...
Provided by National University of Singapore School of Business
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White Papers
Herd Behavior In Stock Markets: Variable And Cyclical
Dec 2008
This paper uses the cross-sectional variance of the betas to study herd behavior towards market index in major developed and emerging financial markets (categorized as developed group, Asian...
Provided by IESE School Of Business
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White Papers
Price Efficiency And Short Selling
Jan 2008
This paper investigates the effect of short-sale constraints on price efficiency. The authors use a unique global dataset on equity lending collected from several custodians from January 2004 to...
Provided by IESE School Of Business
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White Papers
2008: A Good Year For The Stock Market?
Jan 2008
The year 2008 started out rather harshly for Spain's Mercado Continuo. A new paper by IESE Prof. Pablo Fernández and research assistant Vicente J. Bermejo highlights this situation. In their...
Provided by IESE School Of Business
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White Papers
Designing Loan Modifications To Address The Mortgage Crisis And The Making Home Affordable Program
Oct 2009
Delinquencies on residential mortgages and home foreclosures have risen dramatically in the past couple of years. The mortgage losses triggered a broad-based financial crisis and severe recession,...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Reversing The Trend: The Recent Expansion Of The Reverse Mortgage Market
Sep 2009
Reverse mortgages allow elderly homeowners to tap into their housing wealth with-out having to sell or move out of their homes. However, very few eligible homeowners have used reverse mortgages to...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Determinants Of The Locations Of Payday Lenders, Pawnshops And Check-Cashing Outlets
Jun 2009
A large and growing number of low-to-moderate income U.S. households rely upon alternative financial service providers (AFSPs) for a variety of credit products and transaction services, including...
Provided by Board of Governors of the Federal Reserve System
-
Podcasts
Challenges For Measuring Performance
Jan 2010
Sir Andrew Likierman, Professor of Management Practice in Accounting, discusses the challenges involved in accurately measuring performance.
Provided by London Business School
-
White Papers
The Role Of The Securitization Process In The Expansion Of Subprime Credit
Apr 2009
The author analyzes the structure and attributes of subprime mortgage-backed securitization deals originated between 1997 and 2007. The data set allows one to link loan-level data for over 6.7...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
What Is The Chance That The Equity Premium Varies Over Time? Evidence From Predictive Regressions
Apr 2009
This paper examines the evidence on stock return predictability in a Bayesian setting that includes uncertainty about both the existence and strength of predictability. The author considers an...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Interchange Fees And Payment Card Networks: Economics, Industry Developments, And Policy Issues
May 2009
In many countries around the world, electronic card-based payments have been replacing older types of payments at a rapid rate. In the United States, use of both debit cards and credit cards has...
Provided by Board of Governors of the Federal Reserve System
-
Webcasts
John B. Taylor
Mar 2008
The inspiration for the "Taylor Rule," a widely used calculation that guides the monetary policy of central banks as they set short-term interest rates, delivered a lecture to a standing-room-only...
Provided by Northwestern University (Kellogg)
-
White Papers
The Economics Of The Mutual Fund Trading Scandal
Dec 2008
The author examines the economic incentives behind the mutual fund trading scandal, which made headlines in late 2003 with news that several asset management companies had arranged to allow...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Research and development, Profits And Firm Value: A Structural Estimation
Sep 2008
Is the return to private R&D as high as believed? This paper identifies a flaw in the production function approach to estimating the return to R&D. The author provides new estimates based on a...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Does The NEA Crowd Out Private Charitable Contributions To The Arts?
Nov 2007
This paper investigates the mechanism by which the federal government's funding of the arts through National Endowment for the Arts (NEA) displaces private charitable contributions to non-profit...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
The Human Capital That Matters: Expected Returns And The Income Of Affluent Households
Sep 2007
An important critique of the capital asset pricing model (CAPM), first levied by Mayers (1973) and Roll (1977), is that traditional measures of the market portfolio are incomplete since they do...
Provided by Board of Governors of the Federal Reserve System
-
White Papers
Footnotes Aren't Enough: The Impact Of Pension Accounting On Stock Values
Jan 2008
Some research has suggested that companies with defined benefit (DB) pensions are sometimes significantly misvalued by the market. This is because the measures of pension cost and pension net...
Provided by Board of Governors of the Federal Reserve System
-
Podcasts
Michael Jacobides - Third Briefing Of The Crisis Compendium Part One
Jan 2010
Associate Professor Michael Jacobides discusses what happened to financial services and how changed industry architecture in the sector led to its collapse.
Provided by London Business School
-
Podcasts
Global Investment Returns Yearbook
Jan 2010
In a new podcast, Paul Marsh, Emeritus Professor of Finance and co-author of the Credit Suisse Global Investment Returns Yearbook, discusses what information on historic investment returns can...
Provided by London Business School
-
Podcasts
Roundtable Briefing On The Current Financial Crisis Part Two Of Four
Jan 2010
In this podcast, Professor Viral Acharya discusses bank equity at an Investment Management Club roundtable briefing on the financial crisis.
Provided by London Business School
-
Podcasts
Why The World Needs More Goldman Sachs
May 2010
Rather than destroy Goldman Sachs, over-regulate them or view them as the source of the global financial meltdown, the more rational approach would be to create an environment in the United States...
Provided by Thunderbird School of Global Management
-
Podcasts
Straight Talk On Goldman Sachs Fraud Allegations
May 2010
Confused about the fraud allegations against Goldman Sachs? Thunderbird Professor F. John Mathis, Ph.D., reviews the allegations and puts them into perspective April 26, 2010. Mathis, director of...
Provided by Thunderbird School of Global Management
-
Podcasts
Don't Blame Goldman Sachs: What Really Went Wrong
May 2010
Critics anxious to blame Goldman Sachs as a key player in the recent financial crisis should point the finger elsewhere, Thunderbird Professor F. John Mathis, Ph.D., said April 26, 2010. Mathis,...
Provided by Thunderbird School of Global Management
-
Podcasts
Why China Has Fared Well In Global Financial Crisis
Oct 2009
Thunderbird Professor Roe Goddard, Ph.D., sat down this month with Thunderbird Knowledge Network reporter Darien Carroll and discussed China's emergence from the global financial crisis. Goddard...
Provided by Thunderbird School of Global Management
-
White Papers
Consensus Forecasts And Inefficient Information Aggregation
Jul 2010
Consensus forecasts are inefficient, over-weighting older information already in the public domain at the expense of new private information, when individual forecasters have different information...
Provided by International Monetary Fund
-
White Papers
Some Uncomfortable Arithmetic Regarding Europe's Public Finances
Jul 2010
Traditional fiscal indicators focused on measures of current deficits and debt miss the potentially important implications of current policies for future public finances. This could be...
Provided by International Monetary Fund
-
Podcasts
'Less Bad Is The New Good' With U.S. GDP Numbers
Aug 2009
Gross domestic product numbers in the United States were bad but not horrible in the second quarter of 2009, and Thunderbird Professor F. John Mathis calls that good news. "All these things really...
Provided by Thunderbird School of Global Management
-
Podcasts
Marketing Versus Finance: Reconcilable Differences
Apr 2009
Marketers and finance professionals have a "Famously fractious relationship" that sometimes resembles a sibling rivalry, Thunderbird Professor Richard Ettenson, Ph.D., told representatives of both...
Provided by Thunderbird School of Global Management
-
White Papers
Does Procyclical Fiscal Policy Reinforce Incentives To Dollarize Sovereign Debt?
Jul 2010
This paper explores the link between the cyclical patterns of macroeconomic and policy variables and the currency composition of domestic sovereign debt in emerging market countries. The empirical...
Provided by International Monetary Fund
-
White Papers
Budget Consolidation: Short-Term Pain And Long-Term Gain
Jul 2010
The paper evaluates the costs and benefits of fiscal consolidation using simulations based on the IMFs global DSGE model GIMF. Over the longer run, well-targeted permanent reductions in budget...
Provided by International Monetary Fund
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White Papers
Automatic Stabilizers And The Size Of Government: Correcting A Common Misunderstanding
Jul 2010
The size of government is a commonly used variable in many analytical studies on the effects of fiscal policy. An accepted practice is to measure it as the ratio of government spending to GDP....
Provided by International Monetary Fund
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Podcasts
More Debt Not The Answer To Economic Downturn
Jan 2009
Government bailout programs designed to soften the landing of a plunging economy will only delay the inevitable, Dallas entrepreneur Scott Walker says Jan. 12 at Thunderbird. "Everything we're...
Provided by Thunderbird School of Global Management
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Podcasts
J.P. Morgan Executive On Sustainable Value Creation
Dec 2008
As managing director of J.P. Morgan's private banking operations in the Middle East, Steve Klemme spends time with many ultra-high-net-worth families. Klemme, a 1985 Thunderbird graduate who lives...
Provided by Thunderbird School of Global Management
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White Papers
The Embodiment Of Intangible Investment Goods: A Q-Theory Approach
Apr 2010
This paper extends the q-theory of investment to model explicitly the decision of firms to invest in intangibles and measures the contribution of intangible goods to the overall capital stock in...
Provided by International Monetary Fund
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White Papers
Basel Core Principles And Bank Risk: Does Compliance Matter?
Mar 2010
The recent financial crisis has sparked widespread calls for reforms of regulation and supervision. The initial reaction to the crisis was one of disbelief: how could such extensive financial...
Provided by International Monetary Fund
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White Papers
Oman: Banking Sector Resilience
Mar 2010
This paper assesses the impact of the global financial risks on Oman's banking system and highlights the remaining risks. It concludes that the liquidity and prudential measures introduced by the...
Provided by International Monetary Fund
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Podcasts
Paul Krugman On Staring Down Depression Economics
May 2009
Edgewise is pleased to bring an extended conversation with Dr. Paul Krugman, Professor of Economics and International Affairs at Princeton University, a regular columnist for the New York Times,...
Provided by American Management Association
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White Papers
Do Currency Fundamentals Matter For Currency Speculators?
Feb 2010
The author compares currency carry trades with an investment strategy based on currency fundamentals: taking a long (short) position in undervalued (overvalued) currencies. Carry trades have high...
Provided by International Monetary Fund
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White Papers
Recovery Determinants Of Distressed Banks: Regulators, Market Discipline, Or The Environment?
Jan 2010
Based on detailed regulatory intervention data among German banks during 1994 - 2008, the author tests if supervisory measures affect the likelihood and the timing of bank recovery. Severe...
Provided by International Monetary Fund
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White Papers
International Pricing Of Emerging Market Corporate Debt: Does The Corporate Matter?
Jan 2010
The pricing of emerging market assets is thought to principally reflect changes in global sentiments and country risk. In turn, country risk is a reflection of a lack of sufficient information,...
Provided by International Monetary Fund
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White Papers
The Outlook For Financing Japan's Public Debt
Jan 2010
Despite the rapid rise in public debt and large fiscal deficits, Japanese Government Bond (JGB) yields have remained fairly stable. Possible factors include: Japan's sizeable pool of household...
Provided by International Monetary Fund
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White Papers
Responding To Banking Crises: Lessons From Cross-Country Evidence
Jan 2010
A common legacy of banking crises is a large increase in government debt, as fiscal resources are used to shore up the banking system. Do crisis response strategies that commit more fiscal...
Provided by International Monetary Fund
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White Papers
Inflation In Tajikistan: Forecasting Analysis And Monetary Policy Challenges
Jan 2010
This paper attempts to explain short- and long-term dynamics of - and forecast - inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model...
Provided by International Monetary Fund
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White Papers
Exchange Rate Choices Of Microstates
Jan 2010
In this paper the author firsts explain why most microstates (countries with less than 2 million inhabitants) have gained independence only in the last 30 years. Despite the higher costs and risks...
Provided by International Monetary Fund
