Optimal Economic Capital Under the Consideration of Systemic Risk

2013 ◽  
Author(s):  
Hong Mao ◽  
James M. Carson ◽  
Krzysztof Ostaszewski ◽  
Nan Zhu
Keyword(s):  
Systemic Risk ◽  
Economic Capital

Macroprudential Policy Instruments of Central Banks

2012 ◽  
pp. 32-47
Author(s):  
S. Andryushin ◽  
V. Kuznetsova
Keyword(s):  
Systemic Risk ◽  
Financial Stability ◽  
Financial System ◽  
Policy Instruments ◽  
Central Banks ◽  
Macroprudential Policy ◽  
Policy Studies ◽  
The Future ◽  
Financial Cycles

The paper analyzes central banks macroprudencial policy and its instruments. The issues of their classification, option, design and adjustment are connected with financial stability of overall financial system and its specific institutions. The macroprudencial instruments effectiveness is evaluated from the two points: how they mitigate temporal and intersectoral systemic risk development (market, credit, and operational). The future macroprudentional policy studies directions are noted to identify the instruments, which can be used to limit the financial systemdevelopment procyclicality, mitigate the credit and financial cycles volatility.

Emerging Transnational Practices and Capabilities of Syrian Refugees in Turkey

2020 ◽  
Vol 17 (1) ◽  
pp. 125-138
Author(s):  
Zeynep Sahin Mencütek
Keyword(s):  
Legal Status ◽  
Country Of Origin ◽  
Economic Security ◽  
Economic Capital ◽  
Diaspora Studies ◽  
Cross Border ◽  
Global North ◽  
Displaced People ◽  
The Stability ◽  
Transnational Activities

Transnational activities of refugees in the Global North have been long studied, while those of the Global South, which host the majority of displaced people, have not yet received adequate scholarly attention. Drawing from refugee studies, transnationalism and diaspora studies, the article focuses on the emerging transnational practices and capabilities of displaced Syrians in Turkey. Relying on qualitative data drawn from interviews in Şanlıurfa – a border province in south-eastern Turkey that hosts half a million Syrians - the paper demonstrates the variations in the types and intensity of Syrians’ transnational activities and capabilities. It describes the low level of individual engagement of Syrians in terms of communicating with relatives and paying short visits to the hometowns as well as the intentional disassociation of young refugees from homeland politics. At the level of Syrian grassroots organisations, there have been mixed engagement initiatives emerging out of sustained cross-border processes. Syrians with higher economic capital and secured legal status have formed some economic, political, and cultural institutional channels, focusing more on empowerment and solidarity in the receiving country than on plans for advancement in the country of origin. Institutional attempts are not mature enough and can be classified as transnational capabilities, rather than actual activities that allow for applying pressure on the host and home governments. This situation can be attributed to the lack of political and economic security in the receiving country as well as no prospects for the stability in the country of origin. The study also concerns questions about the conceptual debates on the issue of refugee diaspora. Whilst there are clear signs of diaspora formation of the Syrian refugee communities, perhaps it is still premature to term Syrians in Turkey as refugee diaspora.

Collective Resource Mobilisation for Economic Survival within the Kurdish and Turkish Communities in London

2016 ◽  
Vol 6 (2) ◽  
pp. 219-239
Author(s):  
Olgu Karan
Keyword(s):  
Small Business ◽  
Textile Industry ◽  
Economic Capital ◽  
Small Business Owners ◽  
Coffee Shop ◽  
Business Ownership ◽  
Economic Survival ◽  
Collective Resource ◽  
Resource Mobilisation ◽  
Depth Interviews

This paper proposes a new conceptual framework in understanding the dynamics within the Kurdish and Turkish (KT) owned firms in London by utilising Charles Tilly’s work concerning collective resource mobilisation. Drawing on 60 in-depth interviews with restaurant, off-licence, kebab-shop, coffee-shop, supermarket, wholesaler owners and various community organisations, the paper sheds light upon the questions of why and how the KT communities in London moved into, and are over represented and why Turkish Cypriots are absent in small business ownership. The re-search illustrates that members of the KT communities aligned in their interests to become small business owners after the demise of textile industry in the midst of 1990s in London. The interest alignment in small business ownership required activation of various forms of capital and transposition of social, cultural and economic capital into one another.

Risk Factors of Collateralized Loan Obligations and Corporate Bonds

2020 ◽  
Vol 32 (6) ◽  
pp. 347-355
Author(s):  
Mark Wahrenburg ◽  
Andreas Barth ◽  
Mohammad Izadi ◽  
Anas Rahhal
Keyword(s):  
Risk Factors ◽  
Risk Factor ◽  
Asset Pricing ◽  
Systemic Risk ◽  
Corporate Bonds ◽  
Risk Exposure ◽  
Expected Returns ◽  
Yield Spreads ◽  
Pricing Factors ◽  
Return Difference

AbstractStructured products like collateralized loan obligations (CLOs) tend to offer significantly higher yield spreads than corporate bonds (CBs) with the same rating. At the same time, empirical evidence does not indicate that this higher yield is reduced by higher default losses of CLOs. The evidence thus suggests that CLOs offer higher expected returns compared to CB with similar credit risk. This study aims to analyze whether this return difference is captured by asset pricing factors. We show that market risk is the predominant risk factor for both CBs and CLOs. CLO investors, however, additionally demand a premium for their risk exposure towards systemic risk. This premium is inversely related to the rating class of the CLO.

Introducing the Systemic Risk Council

CFA Magazine ◽  
2012 ◽  
Vol 23 (5) ◽  
pp. 8-9
Author(s):  
John Rogers
Keyword(s):  
Systemic Risk

Are Asset Managers a Source of Systemic Risk?

CFA Digest ◽  
2014 ◽  
Vol 44 (8) ◽  
Author(s):  
Sridhar Balakrishna
Keyword(s):  
Systemic Risk ◽  
Asset Managers

Asymmetries in Short Selling of Exchange-Traded Funds and the Potential for Systemic Risk

CFA Digest ◽  
2012 ◽  
Vol 42 (3) ◽  
pp. 146-148
Author(s):  
Claire Emory
Keyword(s):  
Systemic Risk ◽  
Short Selling ◽  
Exchange Traded Funds

Global Systemic Risk: What We’ve Learned and the Way Forward

CFA Digest ◽  
2009 ◽  
Vol 39 (4) ◽  
pp. 35-35
Keyword(s):  
Systemic Risk ◽  
The Way

Measuring Global Systemic Risk: What Are Markets Saying about Risk?

CFA Digest ◽  
2011 ◽  
Vol 41 (1) ◽  
pp. 70-72
Author(s):  
Raymond Galkowski
Keyword(s):  
Systemic Risk

Research of Economic Capital and Cultural Consumption

2018 ◽  
Vol 11 (1) ◽  
pp. 81-95
Author(s):  
Kim,Eun-Hye ◽  
Kim, In Sook
Keyword(s):  
Economic Capital ◽  
Cultural Consumption
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