Search results for "Balance"
showing 10 items of 1379 documents
Determinants of COVID-19 Vaccine Rollouts and Their Effects on Health Outcomes
2022
Background Vaccination against the coronavirus disease (SARS-CoV-2) is understood to be the key way out of the COVID-19 pandemic. Limited evidence exists on the determinants of vaccine rollouts and their health effects at the country level. Objective Examine the determinants of COVID-19 vaccine rollouts and their effects on health outcomes. Methods Ordinary least squares regressions with standard errors clustered at the country level for Cross-section and Panel daily data of vaccinations and various health outcomes (new COVID-19 cases, fatalities, intensive care unit (ICU) admissions) for an unbalanced sample of about 200 countries during the period 16 December 2020 to 20 June 2021. Results…
On the Persistent Understatement of Shareholder's Equity Around Europe
2003
We examine the existence of balance sheet conservative practices by listed companies in seven European countries, analysing the differences among them. Our results show that in every country under study there are conservative practices that lead to a persistent understatement of operating assets with respect to market value. This understatement could be mainly attributable to the usage of historic cost accounting as well as to the non-recognition of certain intangible assets. We also find that in code-law based countries balance sheet conservative practices are much more pronounced. Additionally, we analyse whether our results are influenced by a different sample composition, and if spuriou…
Changes in determinants of the interest margin in today’s economy
2019
This study examined the interest margin following the significant drop in its contribution to credit institutions’ total income. Balance sheet variables, income statement and annual report variables, and external variables were studied separately. Variables that had not previously been studied in the literature were considered, and determinants that had already been studied were revisited after the reduction in the interest margin. The diversification of investment in associated companies and investment in fixed and variable income are causes of this decrease in the interest margin. Higher fees and commissions offset this decrease. Greater size and market power have reduced the interest mar…
How does fiscal policy react to wealth composition and asset prices?
2012
Prova tipográfica
Ethical Banking and Conventional Banking. Triodos Bank vs Banco Santander
2019
La crisis financiera de 2008 ha provocado cambios en la estructura bancaria tradicional, generando una desconfianza por parte de los ciudadanos con el sistema financiero tradicional, como consecuencia de ello ha surgido otro tipo de banca, la Banca Ética. El objetivo de este trabajo es estudiar si la Banca Ética puede llegar a ser igual de rentable que la Banca Tradicional, invirtiendo principalmente en valores sociales. Para ello, se realiza un análisis comparativo entre la Banca Ética (Triodos Bank) y la Banca Tradicional (Banco Santander). Para alcanzar el objetivo propuesto se realiza un análisis económico centrado en la actividad financiera de ambas tipologías de bancos durante el perí…
Cross-country variation in patience, persistent current account imbalances and the external wealth of nations
2022
This paper is the first to utilize large-scale international surveys on economic preferences to examine the long-run relationships between patience, current accounts and external wealth. We find robust empirical evidence that countries with more patient individuals tend to run persistent current account surpluses, which in turn result in the accumulation of foreign assets. This theoretically plausible but empirically unexplored relationship holds true for euro area current account imbalances, global current account imbalances and net foreign asset positions worldwide. While the existing current account literature concentrates on proximate macroeconomic determinants, this paper’s extension o…
Trade imbalances within the euro area and with respect to the rest of the world
2015
Abstract Many studies have explored the determinants of current account balances in Europe. However, only in a few studies has trade balance been decomposed into intra balance, trade balance vis-a-vis the euro area, and extra balance, trade balance vis-a-vis the rest of the world. This decomposition is necessary for us to understand why some core euro area countries are acting as financial intermediaries for the periphery countries. Furthermore, the determinants of intra and extra balances might be different because nominal exchange rate cannot adjust between the EMU countries while their financial markets are highly integrated. Thus, we apply this decomposition and supplement the previous …
The Macroeconomy After Tariffs
2021
AbstractWhat does the macroeconomy look like in the aftermath of tariff changes? This study estimates impulse response functions from local projections using a panel of annual data that spans 151 countries from 1963 to 2014. Tariff increases are associated with persistent, economically and statistically significant declines in domestic output and productivity, as well as higher unemployment and inequality, real exchange rate appreciation, and insignificant changes to the trade balance. Output and productivity impacts are magnified when tariffs rise during expansions and when they are imposed by more advanced or smaller (as opposed to developing or larger) economies; effects are asymmetric, …
The Euro's Effect on Trade Balance Dynamics
2015
During the pre-EMU period changes in real effective exchange rate or faster-than-trading-partners growth rates Granger caused changes in trade balance in most of the EMU-12 countries. However, our data driven article provides evidence that after the adoption of euro, these Granger causalities disappeared. We decompose trade balances into intra balances (trade balance vis-a-vis the euro area) and extra balances (trade balance vis-a-vis the rest of the world), and find that the disappearance of dynamic feedback effect typically occurred in the intra balances rather than in the extra balances. Our results imply that debtor countries cannot reduce their trade deficits in the short-run by enhanc…