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Examining The Current Role Of Out-Of-State Buyers In The Tri-Cities Within The Confines Of Residential Real Estate, Paul Arrowood 2021 East Tennessee State University

Examining The Current Role Of Out-Of-State Buyers In The Tri-Cities Within The Confines Of Residential Real Estate, Paul Arrowood

Undergraduate Honors Theses

We are seeing an influx of out-of-state buyers into Tennessee, and the Tri-Cities area specifically. As a major emerging housing market in the US, the Tri-Cities is being inundated by people from all states and walks of life seeking a better life in Appalachia. Although the reasons vary by person, many agree that political alignment, taxation levels, and the quietness of this area lends itself to population growth. While most members of the housing industry have noticed this uptick in out-of-state buyers, few have taken the time to analyze their own records or review the empirical evidence that is present ...


Oil Price Fluctuations Impact On The Lebanese Economic Well Being, Hanadi Taher 2021 Associate Professor, Department of Economics, Faculty of Business Administration, Beirut Arab University, Beirut, Lebanon

Oil Price Fluctuations Impact On The Lebanese Economic Well Being, Hanadi Taher

BAU Journal - Health and Wellbeing

This paper investigates the impact of oil price fluctuation on the Lebanese economic well being during the period from 1988 to 2018 using multivariable ordinary least square method with annual time series. taking the Lebanese GDP per capita as proxy for the economic wellbeing as dependent variable and the crud oil average annual prices as proxy for oil price fluctuations with Labor and gross fixed capital formation as two control variables. The test results show a significant and positive impact for the oil price fluctuations on the Lebanese economic well being and the significant results for control variables. In testing ...


The Political Economy Of The Cost Of Foreign Exchange Intervention, Devika Dutt 2021 University of Massachusetts Amherst

The Political Economy Of The Cost Of Foreign Exchange Intervention, Devika Dutt

Doctoral Dissertations

Central Banks around the world increasingly intervene in the foreign exchange market for a variety of reasons, such as maintaining exchange rate stability and maintaining a buffer against the impact of capital flight. In fact, research shows that central banks can lean against the macroeconomic policy trilemma through maintaining reserves and intervening in the foreign exchange market, and thereby secure policy space. However, securing this policy space can come at substantial cost. This dissertation explores the political economy of these costs of foreign exchange intervention. Chapter I discusses the concept of the direct cost of intervention, calculates these costs for ...


The Macroeconomic Impacts Of Entitlements, Ateeb Akhter Shah Syed, Kaneez Fatima, Riffat Naseer 2021 State Bank of Pakistan

The Macroeconomic Impacts Of Entitlements, Ateeb Akhter Shah Syed, Kaneez Fatima, Riffat Naseer

The Hilltop Review

The worries expressed by Alan Greenspan that the long run economic growth of the United States will fade away due to increasing burden of entitlements motivated us to empirically investigate the impact of entitlements of key macroeconomic variables. To examine this contemporary issue, we estimate a vector error-correction model to analyze the impact of entitlements on the price level, real output, and the long-term interest rate. The results show that a shock to entitlements leads to decrease in output and lends support to the assertion made by Alan Greenspan. Several robustness checks verify that the results remain unchanged qualitatively.


Bibliometric Review On Gold Currency And The Islamic Perspective, Muhammad Isa Mustafa, Aam Slamet Rusydiana, Muhammad Syamsul Bahri, Abdillah Arif Nasution 2021 Tazkia Islamic University College

Bibliometric Review On Gold Currency And The Islamic Perspective, Muhammad Isa Mustafa, Aam Slamet Rusydiana, Muhammad Syamsul Bahri, Abdillah Arif Nasution

Library Philosophy and Practice (e-journal)

The use of gold is the beginning of the development of the monetary system in the world. The development of gold currency which has long been practiced, has undergone several evolutions from time to time. As a consequence, this evolution has implications for the development of research using gold currency. Therefore, this study aims to provide quantitative information on the development of gold currency literature. There are 917 papers in journals, books, book chapters, conference papers, and review papers indexed and indexed by the Scopus database from 1899-2021. We employed VOSViewer and Excel software to synthesize and analyze the data ...


Three Essays On Exchange Rate Models And Their Applications, Azza A. Mansour 2021 The Graduate Center, City University of New York

Three Essays On Exchange Rate Models And Their Applications, Azza A. Mansour

Dissertations, Theses, and Capstone Projects

Chapter 1: This chapter attempts to identify the determinant of exchange rate pass-through into producer and destination prices using highly disaggregated firm-level data of importers and exporters of the Egyptian economy from 2009 to 2013. The main findings assert the hypothesis of complete exchange rate pass-through into destination prices at the lowest level of significance for the average exporting firm that is also importing. Furthermore, the firm with the highest import intensity has a lower percentage of pass-through into destination prices, indicating that the marginal cost channel plays a more significant role in determining the speed of the exchange rate ...


Islamic Bank Amid The 2008 Global Financial Crisis: A Bibliometric Analysis, Maulidar -. Agustina Ms., M. Shabri -. Abd. Majid Prof. Dr., Hafasnuddin -. Hafasnuddin Dr. 2021 Universitas Syiah Kuala (USK), Indonesia

Islamic Bank Amid The 2008 Global Financial Crisis: A Bibliometric Analysis, Maulidar -. Agustina Ms., M. Shabri -. Abd. Majid Prof. Dr., Hafasnuddin -. Hafasnuddin Dr.

Library Philosophy and Practice (e-journal)

This study aims to provide a bibliometric and science mapping analysis on the research area of Islamic banks and the 2008 global financial crisis published in the Scopus indexed database over the 2008-2021 period. The study used the VOSviewer software and MS Excel spreadsheet for data analysis. The study identified an increasing trend in publication on the topic. The study found that Alqahtani was the most productive author, while Bourkhis and Nabi were the highly cited authors. The authors from Malaysia were the productive publication, while the Journal of Islamic and Middle Eastern Finance and Management was found to be ...


Reference-Dependent Preferences, Time Inconsistency, And Pay-As-You-Go Pensions, Torben M. Andersen, Joydeep Bhattacharya, Qing Liu 2021 Aarhus University

Reference-Dependent Preferences, Time Inconsistency, And Pay-As-You-Go Pensions, Torben M. Andersen, Joydeep Bhattacharya, Qing Liu

Economics Publications

The classic Aaron–Samuelson result argues that pay-as-you-go (PAYG) pension schemes cannot coexist with higher-return, private, retirement-saving schemes. The ensuing literature shows if agents voluntarily undersave for retirement due to myopia or time-inconsistency, then a paternalistic, rationale for PAYG pensions arises only if voluntary retirement saving is fully crowded out because of a binding borrowing constraint. This paper generalizes the discussion to the reference-dependent utility setup of Kőszegi and Rabin (2009) where undersaving happens naturally. No borrowing constraint is imposed. We show it is possible to offer a non-paternalistic, welfare rationale for return-dominated, PAYG pensions to coexist with private, retirement ...


Connectedness Of Asia Pacific Forex Markets: China's Growing Influence, Hwee Kwan CHOW 2021 Singapore Management University

Connectedness Of Asia Pacific Forex Markets: China's Growing Influence, Hwee Kwan Chow

Research Collection School Of Economics

This paper investigates the degree of connectedness of Asia Pacific forex markets post global financial crisis and relates it to developments in the renminbi markets. The connectedness measure developed by Diebold and Yilmaz (2014) reveal the strength of linkages across the US dollar currency pairs of twelve currencies, namely offshore renminbi, onshore renminbi, euro, yen, Australian dollar, Indian rupee, Korean won, Malaysian ringgit, New Zealand dollar, Singapore dollar, Thai baht and Taiwan dollar. With the gradual liberalization of China’s exchange rate system, shocks from the renminbi markets contribute more to fluctuations in almost all individual Asia Pacific currency markets ...


Lessons Learned: James Wigand, Sandra Ward 2021 Yale University

Lessons Learned: James Wigand, Sandra Ward

The Journal of Financial Crises

A finance specialist and longtime Federal Deposit Insurance Corporation (FDIC) executive, James Wigand served as Deputy Director, Franchise and Asset Marketing, at the FDIC from 1997 to 2010, a period encompassing the global financial crisis of 2007-09. Wigand oversaw the resolution of all insured-depository institutions during the crisis, arranging acquisitions of troubled banks or liquidating them. He also acted as liaison between the chairman and board of directors of the FDIC. In 2010, in the aftermath of the crisis, Wigand was named director of the newly created Office of Complex Financial Institutions at the FDIC, an office formed under the ...


Lessons Learned: Arthur Murton, Sandra Ward 2021 Yale University

Lessons Learned: Arthur Murton, Sandra Ward

The Journal of Financial Crises

Arthur Murton joined the Federal Deposit Insurance Corp. in 1986 as a financial economist and rose through the ranks to become Director of the Division of Insurance and Research, a post he held from 1995 to 2013 and which he steered through the financial crisis of 2007-09. Murton participated in the important interagency discussions held on Columbus Day weekend in 2008 that led to the establishment of breakthrough programs that proved critical in stabilizing financial markets. This “Lessons Learned” summary is based on an interview with Mr. Murton about his crisis experience.


Lessons Learned: Michael Krimminger, Charles Euchner, Maryann Haggerty 2021 Yale University

Lessons Learned: Michael Krimminger, Charles Euchner, Maryann Haggerty

The Journal of Financial Crises

Michael Krimminger was Special Advisor for Policy and General Counsel at the Federal Deposit Insurance Corporation during the global financial crisis. In that role, he provided legal and policy advice on the writing and implementation of the Dodd-Frank Act, including its systemically important financial institution provisions, living wills, capital markets and capital, and structured finance requirements. He is now a partner at Cleary Gottlieb Steen & Hamilton LLP. This “Lessons Learned” is based on an interview with Mr. Krimminger.


Lessons Learned: Diane Ellis, Sandra Ward 2021 Yale University

Lessons Learned: Diane Ellis, Sandra Ward

The Journal of Financial Crises

Diane Ellis served as Deputy Director, Insurance and Research, at the Federal Deposit Insurance Corp. during the financial crisis of 2007-09. The FDIC played a critical role in stabilizing financial conditions and establishing confidence in the financial markets by guaranteeing newly issued debt on a temporary basis for banks and thrifts as well as financial holding companies and eligible bank affiliates. The agency also fully guaranteed certain non-interest-bearing transaction deposit accounts. Ellis played an important role in implementing the Temporary Liquidity Guarantee Program that proved so critical in stemming the crisis. This “Lessons Learned” is based on a phone interview ...


Comment Letters May Have Helped Shape Federal Reserve’S Municipal Liquidity Facility (Mlf) And Main Street Lending Program (Mslp), Steven Kelly 2021 Yale Program on Financial Stability

Comment Letters May Have Helped Shape Federal Reserve’S Municipal Liquidity Facility (Mlf) And Main Street Lending Program (Mslp), Steven Kelly

The Journal of Financial Crises

YPFS Archive Notes highlight noteworthy content or additions to the YPFS Resource Library.

In support of the YPFS efforts to archive primary and secondary materials that shed light on financial crises, this YPFS Archive Note highlights the addition of public comment letters solicited by the Federal Reserve to evaluate two of its proposed emergency lending facilities, the Municipal Liquidity Facility (MLF) and the Main Street Lending Program (MSLP) designed to help the US economy endure the financial stresses caused by the coronavirus pandemic. The released correspondence reflects a wide array of congressional and stakeholder concerns. Ultimately, the Fed incorporated some ...


Hungary: Magyar Reorganizációs És Követeléskezelő Zrt (Mark Zrt.), Mallory Dreyer 2021 Yale University

Hungary: Magyar Reorganizációs És Követeléskezelő Zrt (Mark Zrt.), Mallory Dreyer

The Journal of Financial Crises

Hungary saw a surge in commercial real estate (CRE) lending prior to the Global Financial Crisis. By 2014, the banking sector was saddled with a high ratio of nonperforming CRE loans and repossessed property, though Hungarian banks remained solvent with high capital adequacy ratios. The central bank of Hungary, the MNB, announced the creation of an asset management company, Magyar Reorganizációs és Követeléskezelő Zrt. (MARK), to purchase nonperforming CRE assets from Hungarian banks on a voluntary basis, to clear their balance sheets and allow for increased lending. MARK was fully-owned by the MNB, which provided MARK’s share capital and ...


Spain: Sociedad De Gestión De Activos Procedentes De La Reestructuración Bancaria (Sareb), David Tam, Sean Fulmer 2021 Yale Program on Financial Stability

Spain: Sociedad De Gestión De Activos Procedentes De La Reestructuración Bancaria (Sareb), David Tam, Sean Fulmer

The Journal of Financial Crises

In the wake of the Global Financial Crisis, the Spanish real estate market struggled to recover, which posed significant issues for savings banks that had an outsized exposure to the real estate sector. The Spanish government created Sociedad de Gestión de Activos procedentes de la Reestructuración Bancaria (SAREB) in 2012 to buy impaired real estate assets from troubled banks and sell them over a 15-year period using funds from an up to €100 billion ($123 billion) loan from the European Financial Stability Facility. Its mandate was “to help clean up the Spanish financial sector and, in particular, the banks that ...


Bank Assets Management Company (Bamc), Alexander Nye 2021 Yale University School of Management

Bank Assets Management Company (Bamc), Alexander Nye

The Journal of Financial Crises

Slovenia weathered the initial shock of the Global Financial Crisis (GFC) of 2008 well enough to return to growth in 2010. However, non-performing loans continued mounting, banks experienced significant losses, and credit growth turned negative in a credit crunch. Slovenia entered a recession in 2011, experiencing the second largest GDP decline in the euro area. It was not certain whether Slovenia had the fiscal space to resolve these problems without requesting a Troika bailout from the European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF). In late 2012 the government tried to prevent such a program by ...


United Kingdom Asset Resolution Limited (Ukar), Aidan Lawson 2021 Yale University

United Kingdom Asset Resolution Limited (Ukar), Aidan Lawson

The Journal of Financial Crises

As the Global Financial Crisis began to unfold, the United Kingdom (UK) saw two of its largest mortgage lenders in Bradford & Bingley (B&B) and Northern Rock begin to weaken dramatically under the pressure that housing and financial markets were facing. Northern Rock and B&B both faced severe funding problems due to a worsening global credit crunch and both would be nationalized in 2008. Despite this effort, the crisis continued to worsen globally, and the UK government created UK Asset Resolution Limited (UKAR) on October 1, 2010. This organization’s goal was to wind down and maximize the return ...


Asset Management Corporation Of Nigeria (Amcon): Asset Management, Pascal Ungersboeck, Corey N. Runkel 2021 Yale University

Asset Management Corporation Of Nigeria (Amcon): Asset Management, Pascal Ungersboeck, Corey N. Runkel

The Journal of Financial Crises

Nigeria experienced the Global Financial Crisis as a dramatic decline in the price of crude oil and a burst stock market bubble. These losses were compounded by a high level of margin lending, resulting in large numbers of nonperforming loans (NPLs) for Nigerian banks. The government established the Asset Management Corporation of Nigeria (AMCON) in July 2010 to purchase NPLs and inject capital in insolvent banks. In three purchases between December 2010 and December 2011, AMCON acquired loans with face value ₦4.02 trillion ($26.8 billion) for ₦1.76 trillion. As a result, NPLs in Nigerian banks fell from ...


National Asset Management Agency (Nama), Alexander Nye 2021 Yale University School of Management

National Asset Management Agency (Nama), Alexander Nye

The Journal of Financial Crises

After the Irish property boom peaked in 2007, Ireland’s banks faced declining share prices and increasing liquidity pressures. When in the aftermath of the September 2008 collapse of Lehman Brothers, Ireland’s banks lost access to liquidity from abroad, it triggered a banking crisis in the country. In spite of various responses by the Irish government, the financial viability of Ireland’s banks (as well as the government’s fiscal position) continued to deteriorate in early 2009. The Irish government attributed the problem to impaired real estate assets sitting on bank balance sheets, which made it difficult for markets ...


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