Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Portfolio Diversification Leverage And Financial Contagion
Download Portfolio Diversification Leverage And Financial Contagion full books in PDF, epub, and Kindle. Read online Portfolio Diversification Leverage And Financial Contagion ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Portfolio Diversification, Leverage, and Financial Contagion by : Mr.Garry J. Schinasi
Download or read book Portfolio Diversification, Leverage, and Financial Contagion written by Mr.Garry J. Schinasi and published by International Monetary Fund. This book was released on 1999-10-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Models of “contagion” rely on market imperfections to explain why adverse shocks in one asset market might be associated with asset sales in many unrelated markets. This paper demonstrates that contagion can be explained with basic portfolio theory without recourse to market imperfections. It also demonstrates that “Value-at-Risk” portfolio management rules do not have significantly different consequences for portfolio rebalancing and contagion than other rules. The paper’s main conclusion is that portfolio diversification and leverage may be sufficient to explain why investors would find it optimal to sell many higher-risk assets when a shock to one asset occurs.
Book Synopsis International Financial Contagion by : Stijn Claessens
Download or read book International Financial Contagion written by Stijn Claessens and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.
Book Synopsis Theories of Contagion by : Andreas Vester
Download or read book Theories of Contagion written by Andreas Vester and published by diplom.de. This book was released on 2006-10-02 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: In recent years academics and policy makers have become more and more interested in the phenomenon of contagion, a concept involving the transmission of a financial crisis from one country to one or more other countries. During the 1990s world capital markets witnessed a number of financial crises. In 1992 the Exchange Rate Mechanism (ERM) crisis hit the European continent. Several countries in Latin America have been rocked during the 1994-95 Tequila crisis, and the Asian Flu spread through East Asian countries in 1997-98 with dramatic social implications. Later in 1998 the famous hedge fund Long Term Capital Management (LTCM) had to file for bankruptcy and the Russian debt failure shocked international capital markets and increased volatility on a global scale. The crisis spread to as far as Brazil in early 1999 and developed markets have become victims as well. The question asked by academics and policy makers is how countries should behave in order to avoid contagion. To answer this question it is necessary to understand the different channels of contagion in greater detail and how a crisis can be transmitted from one country to another. The objective of this paper is to highlight those channels and to present a number of models and theories of contagion, which have recently been developed by academics. In general, there are several strands of theories in the literature that try to explain the transmission of crises. During the mid and late 1990s fundamental-based contagion and spillovers became popular among researchers and policy makers. Furthermore, financial linkages have been known to contribute to contagion. In contrast, in recent years, portfolio flows of international investors moved into the focus of academics. The advocates of fundamental-based contagion and spillovers argue that trade linkages between countries are responsible for contagion. For instance, a devaluation of a country's currency may lead to a negative change in fundamentals of its trading partners. On the other hand, contagion due to financial linkages is mainly explained by the fact that countries share the same banks and therefore have common creditors. A crisis in one country then leads to a deteriorating balance sheet of those common creditors. This in turn may force banks to withdraw money out of other countries in order to avoid further losses, a fact that leads to contagious sellouts. The role of international portfolio flows, which is [...]
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1455291579 Total Pages :128 pages Book Rating :4.4/5 (552 download)
Book Synopsis IMF Staff Papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2000-01-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes portfolio diversification, leverage, and financial contagion. It studies the extent to which basic principles of portfolio diversification explain “contagious selling” of financial assets when there are purely local shocks. The paper demonstrates that the elementary portfolio theory offers key insights into “contagion.” Most important, portfolio diversification and leverage are sufficient to explain why an investor will find it optimal to significantly reduce all risky asset positions when an adverse shock impacts just one asset.
Book Synopsis Portfolio Diversification, Leverage, and Financial Contagion by : Garry J. Schinasi
Download or read book Portfolio Diversification, Leverage, and Financial Contagion written by Garry J. Schinasi and published by . This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Contagion by : Roberto Chang
Download or read book International Contagion written by Roberto Chang and published by World Bank Publications. This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can the international community do to prevent financial contagion?
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451973748 Total Pages :140 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff Papers, Volume 47, No. 3 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers, Volume 47, No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2001-10-10 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. It looks at what precisely is meant by herding, the causes of herd behavior, the success of existing studies in identifying the phenomenon, and the effect that herding has on financial markets. The paper also surveys a selected number of studies that evaluated the demand for money using the error-correction model approach in the 1990s across a range of industrial and developing countries.
Book Synopsis The International Financial Architecture by : Stijn Claessens
Download or read book The International Financial Architecture written by Stijn Claessens and published by Amsterdam University Press. This book was released on 2003-04 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation. This title can be previewed in Google Books - http://books.google.com/books?vid=ISBN9789056292669.
Book Synopsis Optimization and Control for Systems in the Big-Data Era by : Tsan-Ming Choi
Download or read book Optimization and Control for Systems in the Big-Data Era written by Tsan-Ming Choi and published by Springer. This book was released on 2017-05-04 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on optimal control and systems engineering in the big data era. It examines the scientific innovations in optimization, control and resilience management that can be applied to further success. In both business operations and engineering applications, there are huge amounts of data that can overwhelm computing resources of large-scale systems. This “big data” provides new opportunities to improve decision making and addresses risk for individuals as well in organizations. While utilizing data smartly can enhance decision making, how to use and incorporate data into the decision making framework remains a challenging topic. Ultimately the chapters in this book present new models and frameworks to help overcome this obstacle. Optimization and Control for Systems in the Big-Data Era: Theory and Applications is divided into five parts. Part I offers reviews on optimization and control theories, and Part II examines the optimization and control applications. Part III provides novel insights and new findings in the area of financial optimization analysis. The chapters in Part IV deal with operations analysis, covering flow-shop operations and quick response systems. The book concludes with final remarks and a look to the future of big data related optimization and control problems.
Book Synopsis The Financial Crisis Inquiry Report, Authorized Edition by : Financial Crisis Inquiry Commission
Download or read book The Financial Crisis Inquiry Report, Authorized Edition written by Financial Crisis Inquiry Commission and published by Public Affairs. This book was released on 2011-01-27 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the causes of the financial crisis that began in 2008 and reveals the weaknesses found in financial regulation, excessive borrowing, and breaches in accountability.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :145197423X Total Pages :128 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff Papers, Volume 47, No. 2 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers, Volume 47, No. 2 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2000-01-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes portfolio diversification, leverage, and financial contagion. It studies the extent to which basic principles of portfolio diversification explain “contagious selling” of financial assets when there are purely local shocks. The paper demonstrates that the elementary portfolio theory offers key insights into “contagion.” Most important, portfolio diversification and leverage are sufficient to explain why an investor will find it optimal to significantly reduce all risky asset positions when an adverse shock impacts just one asset.
Book Synopsis Economics of Emerging Markets by : Lado Beridze
Download or read book Economics of Emerging Markets written by Lado Beridze and published by Nova Publishers. This book was released on 2008 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents recent significant research dealing the economics of emerging markets. The term emerging markets is commonly used to describe business and market activity in industrialising or emerging regions of the world. The term is sometimes loosely used as a replacement for emerging economies, but really signifies a business phenomenon that is not fully described by or constrained to geography or economic strength; such countries are considered to be in a transitional phase between developing and developed status. Examples of emerging markets include China, India, Mexico, Brazil, much of Southeast Asia, countries in Eastern Europe, parts of Africa and Latin America. An emerging market is sometimes defined as "a country where politics matters at least as much as economics to the markets."
Book Synopsis The Evidence and Impact of Financial Globalization by :
Download or read book The Evidence and Impact of Financial Globalization written by and published by Academic Press. This book was released on 2012-12-31 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. Substantial articles by top scholars sets this volume apart from other information sources Rapidly developing subjects will interest readers well into the future Reader demand and lack of competitors underline the high value of these reference works
Book Synopsis Leverage? What Leverage? A Deep Dive into the U.S. Flow of Funds in Search of Clues to the Global Crisis by : Mr.Ashok Vir Bhatia
Download or read book Leverage? What Leverage? A Deep Dive into the U.S. Flow of Funds in Search of Clues to the Global Crisis written by Mr.Ashok Vir Bhatia and published by International Monetary Fund. This book was released on 2012-06-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment banks was the fatal link between the collapse of structured finance and the global malfunction of funding markets that turbocharged the downdraft; and, second, that this insight (and others) can be decrypted from the Flow of Funds Accounts of the United States.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1589065816 Total Pages :183 pages Book Rating :4.5/5 (89 download)
Book Synopsis IMF Staff Papers, Volume 53, No. 3 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers, Volume 53, No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2006-12-15 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the final issue for 2006 (Volume 53), and contains another paper in the occasional Special Data Section that seeks to measure financial development in the Middle East and North Africa by utilizing a new database. The issue also contains a comment from Jacques J. Polak on parity reversion in real exchange rates.
Book Synopsis IMF-Supported Programs by : Mr.Ashoka Mody
Download or read book IMF-Supported Programs written by Mr.Ashoka Mody and published by International Monetary Fund. This book was released on 2006-04-03 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research work by the IMF’s staff on the effectiveness of the country programs the organization supports, which has long been carried out, has intensified in recent years. IMF analysts have sought to “open up the black box” by more closely examining program design and implementation, as well as how these influence programs’ effectiveness. Their efforts have also focused on identifying the lending, signaling, and monitoring features of the IMF that may affect member countries’ economic performance. This book reports on a large portion of both the new and the continuing research. It concludes that IMF programs work best where domestic politics and institutions permit the timely implementation of the necessary measures and when a country is vulnerable to, but not yet in, a crisis. It points to the need for a wider recognition of the substantial diversity among IMF member countries and for programs to be tailored accordingly while broadly maintaining the IMF’s general principle of uniformity of treatment.
Book Synopsis The Risks of Financial Institutions by : Mark Carey
Download or read book The Risks of Financial Institutions written by Mark Carey and published by University of Chicago Press. This book was released on 2007-11-01 with total page 670 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until about twenty years ago, the consensus view on the cause of financial-system distress was fairly simple: a run on one bank could easily turn to a panic involving runs on all banks, destroying some and disrupting the financial system. Since then, however, a series of events—such as emerging-market debt crises, bond-market meltdowns, and the Long-Term Capital Management episode—has forced a rethinking of the risks facing financial institutions and the tools available to measure and manage these risks. The Risks of Financial Institutions examines the various risks affecting financial institutions and explores a variety of methods to help institutions and regulators more accurately measure and forecast risk. The contributors--from academic institutions, regulatory organizations, and banking--bring a wide range of perspectives and experience to the issue. The result is a volume that points a way forward to greater financial stability and better risk management of financial institutions.
