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Philippine Deposit Insurance Corporation Annual Report 2015, Philippines: Deposit Insurance Corporation (Pdic)

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No abstract provided.

Russian Federation: Financial Sector Assessment Program– Detailed Assessment Of Observance On The Basel Core Principles For Effective Banking Supervision (Bcp), International Monetary Fund (Imf)

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No abstract provided.

What Makes A Good ”˜Bad Bank'? The Irish, Spanish And German Experience, Stephanie Medina Cas, Irena Peresa

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This paper examines the experience of three asset management companies (AMCs) or ʽbad banksʼ established in the euro area following the 2008 global financial crisis. Specifically, it studies NAMA, Sareb and FMS Wertmanagement (FMS). DISCUSSION PAPER 036.

Bamc Annual Report 2015, Bank Assets Management Company (Bamc)/Družba Za Upravljanje Terjatev Bank, D.D. (Dutb)

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No abstract provided.

Reserve Bank Of India Annual Report 2015-16, Reserve Bank Of India

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No abstract provided.

Council Recommendation Of 12 July 2016 On The 2016 National Reform Programme Of Slovenia And Delivering A Council Opinion On The 2016 Stability Programme Of Slovenia, European Union: Council Of The European Union

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Council of the European Union. 2016. August 18. Official Journal of the European Union. 2016/C 299/22. C 299/90 – C 299/95.

The People's Republic Of China : 2016 Article Iv Consultation-Press Release; Staff Report; And Statement By The Executive Director For The People's Republic Of China, International Monetary Fund (Imf)

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No abstract provided.

Uniqueness And Stability Of Equilibrium In Economies With Two Goods, John Geanakoplos, Kieran James Walsh

Cowles Foundation Discussion Papers

We offer new sufficient conditions ensuring demand is downward sloping local to equilibrium. It follows that equilibrium is unique and stable in the sense that rising supply implies falling prices. In our setting, there are two goods, which we interpret as consumption in different time periods, and many impatience types. Agents have the same Bernoulli utility function, but the types differ arbitrarily in time preference. Our main result is that if endowments are identical and utility displays nonincreasing absolute risk aversion, then market demand is strictly downward sloping local to equilibrium. We discuss implications for the Diamond-Dybvig literature.

People's Republic Of China 2016 Article Iv Consultation, International Monetary Fund (Imf)

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No abstract provided.

A Corollary Of Accountability: A History Of Fomc Policy Communication, Tim Todd

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No abstract provided.

Banking The Unbanked? Evidence From Three Countries, Pascaline Dupas, Dean Karlan, Jonathan Robinson, Diego Ubfal

Discussion Papers

No abstract provided.

Troubled Asset Relief Program: Most Community Development Capital Initiative Investments Remain Outstanding, United States: Government Accountability Office (Gao)

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No abstract provided.

The Design And Price Of Information, Dirk Bergemann, Alessandro Bonatti, Alex Smolin

Cowles Foundation Discussion Papers

A data buyer faces a decision problem under uncertainty. He can augment his initial private information with supplemental data from a data seller. His willingness to pay for supplemental data is determined by the quality of his initial private information. The data seller optimally offers a menu of statistical experiments. We establish the properties that any revenue-maximizing menu of experiments must satisfy. Every experiment is a non-dispersed stochastic matrix, and every menu contains a fully informative experiment. In the cases of binary states and actions, or binary types, we provide an explicit construction of the optimal menu of experiments.

The Design And Price Of Information, Dirk Bergemann, Alessandro Bonatti, Alex Smolin

Cowles Foundation Discussion Papers

This paper analyzes the trade of information between a data buyer and a data seller. The data buyer faces a decision problem under uncertainty and seeks to augment his initial private information with supplemental data. The data seller is uncertain about the willingness-to-pay of the data buyer due to this private information. The data seller optimally offers a menu of (Blackwell) experiments as statistical tests to the data buyer. The seller exploits differences in the beliefs of the buyer’s types to reduce information rents while limiting the surplus that must be sacrificed to provide incentives.

Common Ownership, Competition, And Top Management Incentives, Miguel Antón, Florian Ederer, Mireia Giné, Martin Schmalz

Cowles Foundation Discussion Papers

Standard corporate finance theories assume the absence of strategic product market interactions or that shareholders don’t diversify across industry rivals; the optimal incentive contract features pay-for-performance relative to industry peers. Empirical evidence, by contrast, indicates managers are rewarded for rivals’ performance as well as for their own. We propose common ownership of natural competitors by the same investors as an explanation. We show theoretically and empirically that executives are paid less for own performance and more for rivals’ performance when the industry is more commonly owned. The growth of common ownership also helps explain the increase in CEO pay over …

Modelling And Forecasting Mortgage Delinquency And Foreclosure In The Uk, Janine Aron, John Muellbauer

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No abstract provided.

Cleaning-Up Bank Balance Sheets: Economic, Legal, And Supervisory Measures For Italy, José Garrido, Emanuel Kopp, Anke Weber

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No abstract provided.

Consumers On A Leash: Advertised Sales And Intertemporal Price Discrimination, Aniko Öry

Cowles Foundation Discussion Papers

The Internet allows sellers to track “window shoppers,” consumers who look but do not buy, and to lure them back later by targeting them with an advertised sale. This new technology thus facilitates intertemporal price discrimination, but simultaneously makes it too easy for a seller to undercut her regular price. Because buyers know they could be lured back, the seller is forced to set a lower regular price. Advertising costs can, therefore, serve as a form of commitment: a seller can actually benefit from higher costs of advertising. Based on this framework, the impact of commitment on prices, profits, and …

Piraeus Bank Annual Report 2015, Piraeus Bank

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No abstract provided.

Fhfa Report To Congress 2015, United States: Federal Housing Finance Agency (Fhfa)

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Contains the Conservatorship of the Enterprises, Supervision and Oversight, Research and Publications, FHFA Operations and Performance, Federal Housing Finance Oversight Board Assessment, and Appendix: Historical Data Tables

Staff Report For The 2016 Article Iv Consultation And Request For A Three Year Extended Arrangement Under The Extended Fund Facility, International Monetary Fund (Imf)

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No abstract provided.

Simple And Honest Confidence Intervals In Nonparametric Regression, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

We consider the problem of constructing honest confidence intervals (CIs) for a scalar parameter of interest, such as the regression discontinuity parameter, in nonparametric regression based on kernel or local polynomial estimators. To ensure that our CIs are honest, we derive and tabulate novel critical values that take into account the possible bias of the estimator upon which the CIs are based. We give sharp efficiency bounds of using different kernels, and derive the optimal bandwidth for constructing honest CIs. We show that using the bandwidth that minimizes the maximum meansquared error results in CIs that are nearly efficient and …

Simple And Honest Confidence Intervals In Nonparametric Regression, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

We consider the problem of constructing honest confidence intervals (CIs) for a scalar parameter of interest, such as the regression discontinuity parameter, in nonparametric regression based on kernel or local polynomial estimators. To ensure that our CIs are honest, we derive and tabulate novel critical values that take into account the possible bias of the estimator upon which the CIs are based. We give sharp efficiency bounds of using different kernels, and derive the optimal bandwidth for constructing honest CIs. We show that using the bandwidth that minimizes the maximum mean-squared error results in CIs that are nearly efficient and …

Simple And Honest Confidence Intervals In Nonparametric Regression, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

We consider the problem of constructing honest confidence intervals (CIs) for a scalar parameter of interest, such as the regression discontinuity parameter, in nonparametric regression based on kernel or local polynomial estimators. To ensure that our CIs are honest, we derive novel critical values that take into account the possible bias of the estimator upon which the CIs are based. We show that this approach leads to CIs that are more efficient than conventional CIs that achieve coverage by undersmoothing or subtracting an estimate of the bias. We give sharp efficiency bounds of using different kernels, and derive the optimal …

United Kingdom: Financial Sector Assessment Program: Bank Resolution And Crisis Management–Technical Note, International Monetary Fund (Imf)

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No abstract provided.

The Federal Reserve As Lender Of Last Resort During The Subprime Crisis -- Successful Stabilization Without Structural Changes, Hansjorg Herr, Sina Rudiger, Jennifer Pedussel

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This article is published in the Journal of Economics and Political Economy. To view this article in its entirety please see the related resources section above.

Advisory Report On The Future Direction Of Sns Bank, Nl Financial Investments

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No abstract provided.

Simple And Honest Confidence Intervals In Nonparametric Regression, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

We consider the problem of constructing honest confidence intervals (CIs) for a scalar parameter of interest, such as the regression discontinuity parameter, in nonparametric regression based on kernel or local polynomial estimators. To ensure that our CIs are honest, we derive and tabulate novel critical values that take into account the possible bias of the estimator upon which the CIs are based. We show that this approach leads to CIs that are more efficient than conventional CIs that achieve coverage by undersmoothing or subtracting an estimate of the bias. We give sharp efficiency bounds of using different kernels, and derive …

How Liberal Korean And Taiwanese Textbooks Portray Their Countries’ “Economic Miracles”, Frances Chan

Student Work

A 2015-2016 William Prize for best essay in East Asian Studies was awarded to Frances Chan (Timothy Dwight College '16) for her essay submitted to the Department of History, “How Liberal Korean and Taiwanese Textbooks Portray their Countries’ “Economic Miracles”.” (Peter C. Perdue, Professor of History, advisor.)

Frances Chan’s essay “How Liberal Korean and Taiwanese Textbooks Portray their Countries’ “Economic Miracles,” is a fascinating exploration of the creation of historical memory as seen in textbooks on the history of postwar economic development in Korea and Taiwan. Drawing on her remarkable linguistic skills in both Korean and …

Annual Report And Accounts 2015 To 2016, Uk Asset Resolution

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No abstract provided.