 | Benefits and Costs of Bank Capital Author/Editor: Jihad Dagher, Giovanni Dell'Ariccia, Luc Laeven, Lev Ratnovski, Hui Tong. Release Date:March, 2016 The appropriate level of bank capital and, more generally, a bank’s capacity to absorb losses, has been at the core of the post-crisis policy debate. This paper contributes to the debate by more...
| Price: $10.00
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 | How Does Post-Crisis Bank Capital Adequacy Affect Firm Investment? Author/Editor: Yangfan Sun, Hui Tong. Release Date:June, 2015 We examine the effect of bank capital levels on firm investment drawing on a sample of11,106 non-financial firms from 2007 to 2013 in 16 advanced economies. We examine twomeasures of bank capital more...
| Price: $18.00
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| Bank Size and Systemic Risk Author/Editor: Luc Laeven, Lev Ratnovski, Hui Tong. Release Date:May, 2014 The proposed SDN documents the evolution of bank size and activities over the past 20 years. It discusses whether this evolution can be explained by economies of scale or “too big to fail” more...
| Price: $10.00
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 | Policies for Macrofinancial Stability: How to Deal with Credit Booms Author/Editor: Bas B Bakker, Giovanni Dell'Ariccia, Luc Laeven, Jérôme Vandenbussche, Deniz Igan, Hui Tong. Release Date:June, 2012 This note explores the costs and benefits of different policy options to reduce the risks associated with credit booms, drawing upon several country experiences and the findings from econometric more...
| Price: $20.00
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| Did the Euro Crisis Affect Non-Financial Firm Stock Prices Through a Financial or Trade Channel? Author/Editor: Stijn Claessens, Hui Tong, Igor Zuccardi. Release Date:September, 2011 This paper analyzes through what channels the euro crisis has affected firm valuations globally. It examines stock price responses over the past year for 3045 non-financial firms in 16 countries to more...
| Price: $18.00
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| The External Impact of China'S Exchange Rate Policy : Evidence From Firm Level Data Author/Editor: Barry J. Eichengreen, Hui Tong. Release Date:July, 2011 We examine the impact of renminbi revaluation on foreign firm valuations, considering two surprise announcements of changes in China’s exchange rate policy in 2005 and 2010 and employing data on more...
| Price: $18.00
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| The Chinese Corporate Savings Puzzle : A Firm-level Cross-country Perspective Author/Editor: Hui Tong, Shang-Jin Wei, Tamim Bayoumi. Release Date:December, 2010 China’s high corporate savings rate is commonly claimed to be a key driver for the country’s large current account surplus. The mainstream explanation for high corporate savings is a combination more...
| Price: $18.00
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| U.S. Monetary Shocks and Global Stock Prices Author/Editor: Luc Laeven, Hui Tong. Release Date:December, 2010 This paper studies how U.S. monetary policy affects global stock prices. We find that global stock prices respond strongly to changes in U.S. interest rate policy, with stock prices increasing more...
| Price: $18.00
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| The Composition Matters : Capital Inflows and Liquidity Crunch During a Global Economic Crisis Author/Editor: Hui Tong, Shang-Jin Wei. Release Date:August, 2009 We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Examining 3823 firms in 24 emerging countries, we find that the more...
| Price: $18.00
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| Real Effects of the Subprime Mortgage Crisis : Is it a Demand or a Finance Shock? Author/Editor: Hui Tong, Shang-Jin Wei. Release Date:July, 2008 We develop a methodology to study how the subprime crisis spills over to the real economy. Does it manifest itself primarily through reducing consumer demand or through tightening liquidity more...
| Price: $18.00
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