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Recursos bibliográficos en papel y digitales -
- libros, artículos de revistas,
ponencias de eventos, etc. -
» Resultado:
62 registros
| Registro 1 de 62 |
| Autor: |
Bekele, Worku Genanew - Schneider, Friedrich Georg |
| Título: |
Preferences for forms of land conservation investment in the Ethiopian Highlands: a household plot-level analysis of the roles of poverty, tenure security and market incentives |
| Fuente: |
Environment and Development Economics. v.21, n.1. Beijer Institute of Ecological Economics; Royal Swedish Academy of Sciences |
| Páginas: |
pp. 78-108 |
| Año: |
Feb. 2016 |
| Resumen: |
This study used the multinomial logistic model to examine the factors leading to differences in farm-households’ preferences for various forms of land conservation measures. Using a survey of 4,795 household-plots in rural Ethiopia, the study demonstrates the inappropriateness of pooling different forms of land conservation investments in preference studies. The results suggest that poverty drives farm-households towards conservation measures which are more short term and which entail the expenditure of less skill. While tenure security has a mixed effect on such preferences, market access seems not to matter for preference decisions. Further, farm-households consider the characteristics of the plot in their preference, which also vary across villages. This study shows that a farm-household’s preference is a complex decision. Major changes in conservation investments on the part of farm-households will require attention to many factors, since no single factor exerts enough control to be used solitarily as a major policy leverage instrument. |
| Solicitar por: |
HEMEROTECA E + datos de Fuente |
| Registro 2 de 62 |
| Autor: |
Hanusch, Marek |
| Título: |
Mooted signals: economic disturbances and political budget cycles |
| Fuente: |
Journal of Applied Economics. v.15, n.2. Universidad del CEMA |
| Páginas: |
pp. 189-212 |
| Año: |
Nov. 2012 |
| Resumen: |
Governments can finance fiscal expansions with debt to appear competent and boost their electoral prospects, resulting in a political budget cycle. This article shows that economic disturbances blur competence signals, dampening political budget cycles. Economic disturbances can be construed at the aggregate level as economic volatility which is a consequence of decisions taken by diverse economic actors. The more actors that are not elected at the national level have an impact on economic performance, the more difficult it will be for voters to disentangle government-specific competence shocks. Fiscal decentralisation increases policy leverage of governing bodies that are not elected at the national level; economic openness affects the number of foreign economic actors that cannot be held locally accountable. These two factors therefore limit voters’ ability to disentangle individual shocks to government competence, dampening strategic borrowing. The predictions receive empirical support from a time series-cross section analysis between 1980 and 2008. |
| Solicitar por: |
HEMEROTECA J + datos de Fuente |
| Registro 3 de 62 |
| Autor: |
Malone, Samuel W. |
| Título: |
Balance sheet effects, external volatility, and emerging market spreads |
| Fuente: |
Journal of Applied Economics. v.12, n.22. Universidad del CEMA |
| Páginas: |
pp. 273-299 |
| Año: |
Nov. 2009 |
| Resumen: |
This paper studies the determinants of emerging market spreads, and thus of the cost of borrowing for emerging market sovereigns, using recent data from JP Morgan’s EMBI+ index for a panel of 19 countries. Controlling for traditional spread determinants, we focus on three additional factors whose importance is suggested by recent work: external shocks, the balance sheet effect of real devaluations, and the degree of current account leverage. We find clear and strong evidence that the variables in the foregoing categories have an economically and statistically significant relationship with spreads. In particular, we find a major role for the terms-of-trade volatility and the level of current account leverage in explaining spread variation. The result on current account leverage establishes an important link between a factor shown to make countries more vulnerable to sudden stops of capital flows, and the premium required by international investors on their foreign debt. |
| Palabras clave: |
DEUDA |
PRESTAMOS |
CRISIS |
DEVALUACION |
MERCADOS EMERGENTES |
CUENTAS CORRIENTES |
|
| Solicitar por: |
HEMEROTECA J + datos de Fuente |
| Registro 4 de 62 |
| Autor: |
Carneiro, Luiz Augusto Ferreira - Sherris, Michael |
| Título: |
Corporate interest rate risk management with derivatives in Australia: empirical results |
| Fuente: |
Revista Contabilidade & Finanças. v.19, n.46. Universidade de São Paulo. Facultade de Economia, Administraçâo e Contabilidade. Departamento de Contabilidade e Atuária |
| Páginas: |
pp. 86-107 |
| Año: |
jan.-abr. 2008 |
| Resumen: |
Financial and insurance theories explain that large widely-held corporations manage corporate risks if doing so is cost-ective to reduce frictional costs such as taxes, agency costs and financial distress costs. A large number of previous empirical studies, most in the U.S., have tested the hypotheses underlying corporate risk management with financial derivative instruments. In order to quantify corporate hedge demand, most previous studies have used the ratio of principal notional amount of derivatives to company size, although they recognize that company size is not an appropriate proxy for financial risk. This paper analyzes the interest-rate-risk hedge demand by Australian companies, measured through the ratio of principal notional amount of interest rate derivatives to interest-rate-riskbearing liabilities. Modern panel data methods are used, with two panel data sets from 1998 to 2003 (1102 and 465 observations, respectively). Detailed information about interest-rate-risk exposures was available after manual data collection from financial annual reports, which was only possible due to specific reporting requirements in Australian accounting standards. Regarding the analysis of the extent of hedge, our measurement of interest-rate-risk exposures generates some significant results di erent from those found in previous studies. For example, this study shows that total leverage (total debt ratio) is not significantly important to interest-rate-risk hedge demand and that, instead, this demand is related to the specific risk exposure in the interest bearing part of the firm’s liabilities. This study finds significant relations of interest-rate-risk hedge to company size, floating-interest-rate debt ratio, annual log returns, and company industry type (utilities and non-banking financial institutions). |
| Palabras clave: |
RIESGOS |
MANEJO DEL RIESGO |
DERIVADOS |
|
| Solicitar por: |
HEMEROTECA C + datos de Fuente |
| Registro 5 de 62 |
| Autor: |
Sellon, Jr.,Gordon H. |
| Título: |
Monetary Policy Transparency and Private Sector Forecasts: Evidence from Survey Data |
| Fuente: |
Economic Review. v.93, n.3. US Federal Reserve Bank of Kansas City |
| Páginas: |
pp. 7-34 |
| Año: |
2008 |
| Resumen: |
In recent years, central banks around the world have greatly increased the monetary policy information they have provided the public. The Federal Reserve has taken a number of actions to promote transparency including, most recently, the announcement of enhancements to the FOMC’s (Federal Open Market Committee) economic forecasts that are released to the public. The movement toward increased transparency arises largely from the view that increased transparency has important benefits, including more effective monetary policy. This view is based on theoretical and empirical research that has emphasized the importance of public expectations about monetary policy as a key factor in determining interest rates and other asset prices. In particular, this research suggests that improved predictability of monetary policy may reduce the volatility of asset prices and make monetary policy more effective by increasing a central bank’s leverage over longer-term interest rates. Sellon uses information from the Blue Chip Long Range Financial Forecasts to examine whether longer-horizon predictability has been associated with increased transparency. The analysis suggests several interesting conclusions. First, consistent with previous studies using futures data, there has been a marked reduction in survey forecast errors at short-term horizons. But, the survey data suggest there has been much less improvement at longer horizons. Second, to the extent private sector longer-horizon forecasts of future monetary policy have improved in recent years, most of the improvement occurred from 2003 to 2006, when the Federal Reserve provided more explicit guidance about the future path of the federal funds rate. During this period, forecast errors over all horizons dropped remarkably. Indeed, this period appears to have driven most of the improvement in the Blue Chip survey forecasts seen over the entire 1986-2007 sample period. Third, the survey evidence reported in this article does not support the finding of some studies that forecasting improved suddenly after 1994. Fourth, the longer-horizon forecast errors have been largest when policy was being actively tightened or eased, especially during the 1990-92 and 2001-03 periods of extended policy easing. Finally, longer-horizon forecast errors appear to have diminished during periods of tightening, but not during periods of easing. |
| Palabras clave: |
POLITICA MONETARIA |
TRANSPARENCIA |
|
| Solicitar por: |
HEMEROTECA E + datos de Fuente |
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