Fragmenting Markets

Author : Darrell Duffie
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110673053
Total Pages : 94 pages
Book Rating : 4.50/5 ( download)

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Download or read book Fragmenting Markets written by Darrell Duffie and published by Walter de Gruyter GmbH & Co KG. This book was released on 2022-11-07 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Post-crisis capital regulations and new failure-resolution rules increased the funding costs that are borne by bank shareholders, and thus the cost to buy-side firms for access to space on the balance sheets of large banks. A policy implication is the encouragement of market infrastructure and trading methods that reduce the amount of space on bank balance sheets that is needed to conduct a given amount of trade. Using models and evidence, this book addresses the implications for financial-market liquidity of these regulations for systemically important banks and argues that current rules do not allow for potential levels of market efficiency and financial stability. In this insightful analysis of the impact of regulation on financial market efficiency post-2008, the author argues that bank capital levels could actually be pushed higher while still improving the liquidity of markets for safe assets such as low-risk fixed-income instruments by relaxing the leverage-ratio rule and increasing risk-based capital requirements.

Author : Darrell Duffie
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110673126
Total Pages : 152 pages
Book Rating : 4.28/5 ( download)

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Download or read book Fragmenting Markets written by Darrell Duffie and published by Walter de Gruyter GmbH & Co KG. This book was released on 2022-11-07 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Post-crisis capital regulations and new failure-resolution rules increased the funding costs that are borne by bank shareholders, and thus the cost to buy-side firms for access to space on the balance sheets of large banks. A policy implication is the encouragement of market infrastructure and trading methods that reduce the amount of space on bank balance sheets that is needed to conduct a given amount of trade. Using models and evidence, this book addresses the implications for financial-market liquidity of these regulations for systemically important banks and argues that current rules do not allow for potential levels of market efficiency and financial stability. In this insightful analysis of the impact of regulation on financial market efficiency post-2008, the author argues that bank capital levels could actually be pushed higher while still improving the liquidity of markets for safe assets such as low-risk fixed-income instruments by relaxing the leverage-ratio rule and increasing risk-based capital requirements.

Author : Sven W. Arndt
Publisher : OUP Oxford
ISBN 13 : 0191589063
Total Pages : 270 pages
Book Rating : 4.65/5 ( download)

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Download or read book Fragmentation written by Sven W. Arndt and published by OUP Oxford. This book was released on 2001-02-08 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Fragmentation" is a term used in this volume to describe cross-border component specialization and production-sharing. Examination of recent trade data suggests that offshore sourcing of parts and components, as well as offshore assembly, are assuming an increasing role in the world economy. The theoretical implications of this type of specialization are examined in several chapters with the aid of both Ricardian and Heckscher-Ohlin trade models. Production is first decomposed ("fragmented") into its constituent parts and activities, and then it is at this level that factor-intensities and technologies are calibrated. The implications of intra-product specialization and component trade are investigated under conditions of free, restricted, and preferential trade. The role of multinationals is explored and the importance of cross-border service-links among component activities is examined. Overall, extension of the principle of comparative advantage beyond products to the realm of parts and components is welfare-enhancing. Industries take advantage of offshore sourcing in order to reduce costs and increase competitiveness. Component specialization offers new and additional opportunities for the exploitation of scale economies. Across a broad range of conditions, it raises output and employment. Its effects on wages are spelled out. Trade between advanced, high-wage and developing low-wage countries is an obvious candidate for the two-way application of component specialization. The empirical part of the volume presents an evaluation of new data which allow the separation of trade in components and in final products. It also provides assessments of the role of component specialization in the trade of several countries and regions. In addition to their relevance for trade theorists and country specialists, the studies collected in this volume have interesting implications for the conduct of trade policy. They contradict claims that trade with low-wage countries must be welfare-reducing and they suggest new approaches to industrialization and economic development.

Author : J. Board
Publisher : Palgrave Macmillan
ISBN 13 : 9781349430987
Total Pages : 303 pages
Book Rating : 4.86/5 ( download)

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Download or read book Transparency and Fragmentation written by J. Board and published by Palgrave Macmillan. This book was released on 2002-01-01 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first major treatment of the effects of increased transparency on financial markets: an important and highly controversial issue for both traders and regulators. Focussing on three main themes - market transparency, the consolidation-fragmentation of trading systems, and the scope of regulation (i.e. which markets, and which traders within those markets, should be subject to regulation), the book highlights the importance of these issues to all markets throughout the world. The book draws on research from eight UK based investment exchanges, Deutsche Borse in Frankfurt and documentary evidence from the US markets and their regulators enabling the identification and documentation of the current situation and consideration of what fresh regulatory approaches are required for this new and fast evolving situation.

Author : Mike Michalowicz
Publisher : Penguin
ISBN 13 : 073521414X
Total Pages : 225 pages
Book Rating : 4.49/5 ( download)

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Download or read book Profit First written by Mike Michalowicz and published by Penguin. This book was released on 2017-02-21 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability. Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz's Profit First system, readers will learn that: · Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances. · A small, profitable business can be worth much more than a large business surviving on its top line. · Businesses that attain early and sustained profitability have a better shot at achieving long-term growth. With dozens of case studies, practical, step-by-step advice, and his signature sense of humor, Michalowicz has the game-changing roadmap for any entrepreneur to make money they always dreamed of.

Author : Steve Sammartino
Publisher : John Wiley & Sons
ISBN 13 : 0730312704
Total Pages : 197 pages
Book Rating : 4.03/5 ( download)

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Download or read book The Great Fragmentation written by Steve Sammartino and published by John Wiley & Sons. This book was released on 2014-06-26 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doing business in the digital age The Great Fragmentation: And Why the Future of All Business is Small is a business survival manifesto for the technology revolution. As the world moves from the industrial era to the digital age, power is shifting and fragmenting. Power is no longer about might and ownership; power in a digital world is about access. Existing businesses need to understand this shift and position themselves to survive and thrive in an environment where entrepreneurs and start-ups enabled by access to technology are genuine threats. Author Steve Sammartino is widely regarded as a thought leader on the subject of technology and business, and helps companies transition from industrial-era thinking to the mindset and processes required to compete in today's digital marketplace. The Great Fragmentation shows how technological changes such as Big Data, gamification, crowdfunding, Bitcoin, 3D printing, social media, mashup culture and artisanal production will forever change business and the way we live our lives. Examine how the digital era has altered where we work, how we work, where we live and what we do Discover how the digital era has impacted social and economic structures, including educational systems, financial systems and government policy Understand that the social media and collecting 'friends' is just the tip of the iceberg in a digital business environment Weaving together insights from business, technology and anthropology, The Great Fragmentation provides both corporations and entrepreneurs with a playbook for the future of work, life and business in the digital era.

Author : Scott McCleskey
Publisher : Butterworth-Heinemann
ISBN 13 : 9780750657457
Total Pages : 184 pages
Book Rating : 4.56/5 ( download)

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Download or read book Achieving Market Integration written by Scott McCleskey and published by Butterworth-Heinemann. This book was released on 2004-01-02 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing an overview of the infrastructure of European Securities markets, this text offers topical analysis of developments and trends in market integration. The author provides industry professionals with a concise exposition of how the post-Euro market works, as well as offering laymen an entry point into the subject. Topics include: wholesale electronic execution; central counterpart clearing; and consolidation of the securities depositories.

Author : Mr. Jorge A Alvarez
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.26/5 ( download)

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Download or read book Geoeconomic Fragmentation and Commodity Markets written by Mr. Jorge A Alvarez and published by International Monetary Fund. This book was released on 2023-10-03 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the economic impact of fragmentation of commodity trade. We assemble a novel dataset of production and bilateral trade flows of the 48 most important energy, mineral and agricultural commodities. We develop a partial equilibrium framework to assess which commodity markets are most vulnerable in the event of trade disruptions and the economic risks that they pose. We find that commodity trade fragmentation – which has accelerated since Russia’s invasion of Ukraine – could cause large price changes and price volatility for many commodities. Mineral markets critical for the clean energy transition and selected agricultural commodity markets appear among the most vulnerable in the hypothetical segmentation of the world into two geopolitical blocs examined in the paper. Trade disruptions result in heterogeneous impacts on economic surplus across countries. However, due to offsetting effects across commodity producing and consuming countries, surplus losses appear modest at the global level.

Author : Jan Drahokoupil
Publisher : ETUI
ISBN 13 : 2874523666
Total Pages : 295 pages
Book Rating : 4.63/5 ( download)

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Download or read book The outsourcing challenge written by Jan Drahokoupil and published by ETUI. This book was released on 2015-07-01 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Production networks in many sectors have become increasingly fragmented. Cutting labour costs by lowering pay, increasing work intensity and/or shifting flexibility costs to workers are just some of the motivations for outsourcing. But it can also be used to circumvent employee representation and collective bargaining systems within companies, and labour market regulations in general. Though such intentions may not drive the bulk of outsourcing decisions, any change in company boundaries is likely to impact employment, working conditions and industrial relations in the value chain. This book focuses on the dynamics of outsourcing in Europe from the perspective of employees. In particular, it considers one insufficiently studied aspect: the impact of outsourcing on working conditions and employment relations in companies. The book also collects lessons learned from the efforts of employees and trade unions to shape outsourcing decisions, processes and their impact on employment and working conditions.

Author : Toronto Stock Exchange. Special Committee on Market Fragmentation
Publisher :
ISBN 13 :
Total Pages : 102 pages
Book Rating : 4.66/5 ( download)

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Download or read book Market Fragmentation written by Toronto Stock Exchange. Special Committee on Market Fragmentation and published by . This book was released on 1997 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: