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"Liquidity (Economics)"
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An introduction to stochastic orders
An Introduction to Stochastic Orders discusses this powerful tool that can be used in comparing probabilistic models in different areas such as reliability, survival analysis, risks, finance, and economics.
eBook
Basel III liquidity regulation and its implications
Liquidity involves the degree to which an asset can be bought or sold in the market without affecting its price. The 2007 to 2009 financial crisis was characterized by a decrease in liquidity and necessitated the introduction of Basel III capital and liquidity regulation in 2010. In this book, we apply such regulation on a broad cross-section of countries in order to understand and demonstrate the implications of Basel III.This book summarizes the defining features of the Basel I, II, and III Accords and their perceived shortcomings as well as the role of the Basel Committee on Banking Supervision (BCBS) in promulgating international banking regulation. In addition, we compare the accords in terms of their ability to determine the capital adequacy of banks and assign risk-weights to assets.
eBook
Excess Liquidity and the Effectiveness of Monetary Policy: Evidence from Sub-Saharan Africa
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity exceed levels required for precautionary purposes. It proposes a methodology for measuring this quantity and uses it to estimate a nonlinear structural VAR model for the CEMAC region, Nigeria and Uganda. The study suggests that excess liquidity weakens the monetary policy transmission mechanism and thus the ability of monetary authorities to influence demand conditions in the economy.
eBook
Efficiently inefficient : how smart money invests and market prices are determined
Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't.
Book
The moderating role of bank size: influence of fintech, liquidity on financial performance
Purpose – This study aims to examine the impact of fintech, liquidity, and bank size on financial performance in Indonesia's conventional commercial banks registered with the Financial Services Authority. Design/methodology/approach – This study's population consists of Conventional Commercial Banks registered with OJK from 2012 to 2021. The research sample comprises conventional commercial banks using fintech between 2012 and 2021. Purposive sampling was used as a sampling technique. The data from 20 banks with 200 financial statement data show the hypothesis testing using SmartPLS software (PLS-SEM method). Findings– The findings of this study show that fintech has a positive effect on financial performance, bank size is a moderating variable for the repercussions of fintech on financial performance, liquidity also has a positive impact on financial performance, and bank size is a moderating variable for the effectiveness of liquidity on financial performance. Research limitations/implications- The theoretical implication of this research is that a large bank size follows a large liquidity ratio and that the bank's financial performance will tend to be large because the bank can cover its debts easily, which will have an impact on increasing the bank's profit. The greater the growth of Fintech, the better the bank's financial performance. This demonstrates that fintech benefits banks. Banks can increase their profits by implementing fintech. The implications of signaling theory for the effect of bank size on the influence of fintech and liquidity on financial performance. This is due to the public's perception that the information developed by Conventional Commercial Banks and published on the official website is reliable. As a result, people are interested in saving money in conventional commercial banks to improve the bank's financial performance. Practical implications– Provide information and input to investors as a basis for making investment decisions related to variables that affect financial performance, especially in Conventional Commercial Banks. Originality/value – This study fills the gap from previous research that is still inconclusive on the factors that affect financial performance. The novelty in this study is that bank size is used as a moderating variable to analyze whether bank size strengthens or weakens the relationship between financial technology, liquidity, and financial performance at Conventional Commercial Banks.
Journal Article
Emerging Market Spread Compression
Despite recent turmoil, spreads on emerging market countries' sovereign bonds have fallen dramatically since mid-2002. Some have attributed the fall to improved economic fundamentals while others to ample global liquidity. The paper models spreads and attempts to empirically distinguish between the two factors. The results indicate that fundamentals, as embedded in credit ratings, are very important, but that expectations of future U.S. interest rates and volatility in those expectations are also a key determinant of emerging market spreads
Book