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Author : Se-Jik Kim
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (318 download)
Download or read book Aggregate Shock, Capital Market Opening, and Optimal Bailout written by Se-Jik Kim and published by 대외경제정책연구원. This book was released on 2001 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Anton Korinek
Publisher : International Monetary Fund
ISBN 13 : 148430795X
Total Pages : 42 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Redistributive Effects of Financial Deregulation written by Mr.Anton Korinek and published by International Monetary Fund. This book was released on 2013-12-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation center stage. We develop a model in which the financial sector benefits from risk-taking by earning greater expected returns. However, risktaking also increases the incidence of large losses that lead to credit crunches and impose negative externalities on the real economy. We describe a Pareto frontier along which different levels of risktaking map into different levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We also show that financial innovation, asymmetric compensation schemes, concentration in the banking system, and bailout expectations enable or encourage greater risk-taking and allocate greater surplus to the financial sector at the expense of the rest of the economy.
Author : Mr.Se-Jik Kim
Publisher : International Monetary Fund
ISBN 13 : 1451874472
Total Pages : 34 pages
Book Rating : 4.4/5 (518 download)
Download or read book Macro Effects of Corporate Restructuring in Japan written by Mr.Se-Jik Kim and published by International Monetary Fund. This book was released on 2003-10-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a framework for quantitatively evaluating the macroeconomic effects of corporate restructuring and applies it to Japan. Using firm-level financial statement data, it estimates total factor productivity (TFP) of individual Japanese firms. Given the estimated distribution of productivity across firms, the paper simulates the effect of optimal restructuring, that is, reallocation of resources from less-productive firms to more-productive ones, on the dynamic path of aggregate output. The results show that the benefits of restructuring could substantially exceed the costs.
Author : Hyungdo Ahn
Publisher : KIEP
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (318 download)
Download or read book Dynamics of Open Economy Business Cycle Models written by Hyungdo Ahn and published by KIEP. This book was released on 2003 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Vivekanand Jayakumar
Publisher : KIEP
ISBN 13 :
Total Pages : 122 pages
Book Rating : 4.F/5 ( download)
Download or read book Exchange Rate System in India written by Vivekanand Jayakumar and published by KIEP. This book was released on 2005 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bengt Holmstrom
Publisher : MIT Press
ISBN 13 : 0262518538
Total Pages : 263 pages
Book Rating : 4.2/5 (625 download)
Download or read book Inside and Outside Liquidity written by Bengt Holmstrom and published by MIT Press. This book was released on 2013-01-11 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.
Author : Yun-jong Wang
Publisher : KIEP
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (318 download)
Download or read book Moving Forward on the Establishment of an Effective Surveillance System and an Improved Financial Architecture for East Asia written by Yun-jong Wang and published by KIEP. This book was released on 2003 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Han-gyŏng Sŏng
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.F/5 ( download)
Download or read book Experimental Economic Approaches on Trade Negotiations written by Han-gyŏng Sŏng and published by 대외경제정책연구원. This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yongkul Won
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 98 pages
Book Rating : 4.:/5 (318 download)
Download or read book FDI Inflows, Exports and Economic Growth in First and Second Generation ANIEs written by Yongkul Won and published by 대외경제정책연구원. This book was released on 2008 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using time-series and panel data from 1981 to 2005, this paper examines the Granger causality relations between GDP, exports, and FDI among the three first generation Asian newly industrializing economies (ANIEs): Korea, Taiwan, Singapore, and the four second generation Asian newly industrializing economies (ANIEs): Malaysia, the Philippines, and Thailand, in addition to China. We first show the difference between the first and second generation ANIEs in terms of real GDP per capita, trade structure, and inward FDI, and find some individual characters of each economy. After reviewing the current literature and testing the properties of individual time-series data, we estimate the VAR of the three variables to find various Granger causal relations for each of the seven economies. We found each country has different causality relations and does not yield general rules. We then construct the panel data of the three variables for the first generation ANIEs, the second generation ANIEs, and finally, all seven economies as a group. We then use the fixed effects and random effects approaches to estimate the panel data VAR equations for Granger causality tests. The panel data causality results reveal that there are bidirectional causality relations among all three variables for the three first generation ANIEs, but only a weak bidirectional causality between real exports and GDP for the four second generation ANIEs. However, when all seven ANIEs are grouped for panel data analysis, we found FDI has unidirectional effects on GDP directly and also indirectly through exports, exports also causes GDP, and there also exists bidirectional causality between exports and GDP for the group. Our results indicate that the panel data causality analysis has superior results over the time series causality analysis. Economic and policy implications of our analyses are then explored in the conclusions.
Author : Han Gwang Choo
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 276 pages
Book Rating : 4.:/5 (318 download)
Download or read book Currency Union in East Asia written by Han Gwang Choo and published by 대외경제정책연구원. This book was released on 2002 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hŭng-jong Kim
Publisher : KIEP
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)
Download or read book Monetary Union and Real Convergence Compared written by Hŭng-jong Kim and published by KIEP. This book was released on 2004 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen Brock Blomberg
Publisher : KIEP
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Macroeconomic Consequences of Terrorism written by Stephen Brock Blomberg and published by KIEP. This book was released on 2004 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Haesik Park
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (318 download)
Download or read book Evolving Patterns of Corporate Financing in Korea written by Haesik Park and published by 대외경제정책연구원. This book was released on 2003 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Chang-Soo Lee
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (318 download)
Download or read book Korea's FDI Outflows written by Chang-Soo Lee and published by 대외경제정책연구원. This book was released on 2002 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sam-mo Kang
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (318 download)
Download or read book Hanging Together written by Sam-mo Kang and published by 대외경제정책연구원. This book was released on 2002 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hong-sik Yi
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)
Download or read book Expansion Strategies of South Korean Multinationals written by Hong-sik Yi and published by 대외경제정책연구원. This book was released on 2004 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: 한국 기업에 대한 해외직접투자의 motivation을 연구한 정부간행물(영문판)
Author : Chae-sik Chŏng
Publisher : 대외경제정책연구원
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (318 download)
Download or read book New Evidence on High Interest Rate Policy During the Korean Crisis written by Chae-sik Chŏng and published by 대외경제정책연구원. This book was released on 2002 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
