Search results for "cyclicality"

showing 3 items of 3 documents

The Cyclicality of Bank Credit Losses and Capital Ratios under Expected Loss Model

2023

We model the evolution of stylised bank loan portfolios to assess the impact of IFRS 9 and US GAAP expected loss model (ECL) on the cyclicality of loan loss provisions (LLPs), realised losses and capital ratios of banks, relative to the incurred loss model of IAS 39. We focus on the interaction between the changes in LLPs charges (the flow channel) and stocks (the stock channel) under ECL. Our results show that, when GDP growth doesn’t demonstrate high volatility, ECL model smooths the impact of credit losses on profits and capital resources, reducing the pro-cyclicality of capital and leverage ratios, especially under US GAAP. However, when GDP growth is highly volatile, the large differen…

IFRS 9 IAS 39 US GAAP Expected credit loss model loan loss provisions cyclicality of bank profits leverage ratio risk-weighted assets
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The spot market and implicit contracts with high-skilled wages

2010

high-skilled workerscyclicalityimplicit contractsspot market model
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Wage Cyclicality under Different Regimes of Industrial Relations

2010

Since there is scant evidence on the role of industrial relations in wage cyclicality, this paper analyzes the effect of collective wage contracts and of works councils on real wage growth. Using linked employer-employee data for western Germany, we find that works councils affect wage growth only in combination with collective bargaining. Wage adjustments to positive and negative economic shocks are not always symmetric. Only under sectoral bargaining there is a (nearly symmetric) reaction to rising and falling unemployment. In contrast, wage growth in establishments without collective bargaining adjusts only to falling unemployment and is unaffected by rising unemployment.

Organizational Behavior and Human Resource ManagementLabour economicsReallohnKonjunkturStrategy and Managementmedia_common.quotation_subjectwage cyclicality wage bargaining works council GermanyWageTarifpolitikwage bargainingCollective bargainingManagement of Technology and InnovationEfficiency wageGermanyEconomicsddc:330J31J53Industrial relationsDeutschlandmedia_commonE32Mitbestimmungjel:E32works counciljel:J31jel:J53Arbeitsbeziehungenwage cyclicalityIndustrial relationsUnemploymentWage growthwage cyclicalitywage bargainingworks councilGermanySchätzung
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