Regional Profit Rates of National Banks and the Development of the U.S. Financial Market, 1870-1914

2007 ◽  
Author(s):  
Richard J. Sullivan
Keyword(s):  
Financial Market ◽  
The U.S ◽  
Profit Rates

ENTRY COSTS, FINANCIAL FRICTIONS, AND CROSS-COUNTRY DIFFERENCES IN INCOME AND TFP

2014 ◽  
Vol 20 (4) ◽  
pp. 884-908 ◽  
Author(s):  
El-hadj Bah ◽  
Lei Fang
Keyword(s):  
Financial Market ◽  
Financial Frictions ◽  
Substantial Portion ◽  
Factor Productivity ◽  
Entry Costs ◽  
Level Statistics ◽  
Country Differences ◽  
Cross Country ◽  
Primary Focus ◽  
The U.S

This paper develops a model to assess the quantitative effects of entry costs and financial frictions on cross-country income and total factor productivity (TFP) differences, with a primary focus on the interaction between entry costs and financial frictions. The model is calibrated to match the establishment-level statistics for the U.S. economy, assuming a perfect financial market. The simulations based on the calibrated model show that entry costs and financial frictions together account for 55% and 46% of the cross-country variation in output and TFP in the data. Moreover, a substantial portion of the variation is accounted for by the interaction between entry costs and financial frictions. The main mechanism is that financial frictions amplify the effect of entry costs.

scholarly journals Performance of American and Russian joint stock companies on financial market. A microstructure perspective

Equilibrium ◽  
2016 ◽  
Vol 11 (4) ◽  
pp. 819 ◽  
Author(s):  
Magdalena Osińska ◽  
Andrzej Dobrzyński ◽  
Yochanan Shachmurove
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Market Microstructure ◽  
Stock Exchange ◽  
Market Equilibrium ◽  
Economic Sanctions ◽  
Transmission Mechanism ◽  
Before And After ◽  
Ukrainian Crisis ◽  
The U.S

This paper compares the periods before and after the Ukrainian crisis of 2014 from the perspective of market microstructure. The hypothesis is that the crisis influenced the fragile Russian financial market equilibrium. As financial markets adapt to the new equilibrium, the paper studies the effects of the crisis and the imposition of economic sanctions on Russia in terms of volatility, duration, prices and volume for selected joint stock companies listed on the U.S. and the Russian stock markets. Results reveal that the Moscow Stock exchange lacks an appropriate transmission mechanism from informed investors to the rest of the market.

Alexander Hamilton, Central Banker: Crisis Management during the U.S. Financial Panic of 1792

2009 ◽  
Vol 83 (1) ◽  
pp. 61-86 ◽  
Author(s):  
Richard Sylla ◽  
Robert E Wright ◽  
David J Cowen
Keyword(s):  
Central Bank ◽  
Crisis Management ◽  
Financial Market ◽  
Political Systems ◽  
Alexander Hamilton ◽  
Central Banker ◽  
Financial Panic ◽  
Management Techniques ◽  
The U.S

Most scholars know little about the panic of 1792, America's first financial market crash, during which securities prices dropped nearly 25 percent in two weeks. Treasury Secretary Alexander Hamilton adroitly intervened to stem the crisis, minimizing its effect on the nascent nation's fragile economic and political systems. U.S. policymakers soon forgot the crisis-management techniques Hamilton invented but failed to codify. Many of them were later rediscovered and became theoretical and practical standards of modern central-bank crisis management. Hamilton, for example, formulated and implemented “Bagehot's rules” for central-bank crisis management eight decades before Walter Bagehot wrote about them inLombard Street.

scholarly journals Relações entre índices preço-lucro e retornos dos títulos públicos

2020 ◽  
Vol 18 (3) ◽  
pp. 27
Author(s):  
Daniel Penido de Lima Amorim ◽  
Marcos Antônio de Camargos
Keyword(s):  
Stock Market ◽  
Interest Rates ◽  
Error Correction ◽  
Financial Market ◽  
Treasury Bonds ◽  
Error Correction Models ◽  
Distributed Lags ◽  
The U.S

<p>The ratios P/E1 and P/E10 or the cyclically adjusted price-to-earnings ratio are widely disseminated in the literature based on the U.S. stock market. This paper develops a method to construct P/E ratios for the Brazilian stock market. The purpose of this paper is to analyze the long-term relationships between both P/E1 and P/E10 and interest rates corresponding to the returns of treasury bonds, in order to test the Fed Model. In general, the period considered was from December 2004 to June 2018. Autoregressive distributed lags models were estimated, which can be represented as conditional error correction models. Results show significant long-term relationships between both P/E1 and P/E10 and the relevant interest rates, suggesting that the Fed Model is in line with the behavior of the Brazilian financial market.</p>

scholarly journals The Influence of Covid-19 on Subprime in the U.S.

2021 ◽  
Vol 235 ◽  
pp. 01063
Author(s):  
Haoyang Li
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
The United States ◽  
Subprime Lending ◽  
Subprime Mortgage ◽  
The Us ◽  
The World ◽  
Us Government ◽  
The 2008 Financial Crisis ◽  
The U.S

Subprime lending in the United States was a major concern after the 2008 financial crisis. While Covid-19 is sweeping the world, how will the US government and financial institutions deal with the potential crisis of subprime mortgage will be discussed in this study. Financial market institutions and the US government should both change their strategies to deal with the crisis. In addition to controlling the spread of the epidemic, the US government should temporarily lower the minimum wage and provide a series of quantitative financial subsidies. Financial institutions should also update loan data and use better monitoring and regulation to reduce subprime risk to cope with this potential crisis.

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