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Financial Distortion Dynamics

2017-12-17
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Release : 2017-12-17
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Book Synopsis Financial Distortion Dynamics by : Raoul Kennedy

Download or read book Financial Distortion Dynamics written by Raoul Kennedy. This book was released on 2017-12-17. Available in PDF, EPUB and Kindle. Book excerpt: The world is awash in debt, of which nearly U.S. $10 trillion is negative-yielding. Financial instability and systemic risk loom over the economic landscape on a global scale. How did this happen and is there a path to a more sustainable future? A central thesis of this work is that sustainable credit and economic growth rely upon undistorted interest rates. Traditional approaches to stimulate growth through policy-directed low-cost borrowing have led to debt-fueled, inflationary dynamics that pose risks of asset bubbles, financial and banking crises, unjust wealth transfer, impoverishment through declining real purchasing power and financial repression on savers. Ultimately, the debt burden coupled with income disruption could threaten millions who depend on an unsustainable system. A microeconomic approach to interest rate determination is examined here: Credit-based natural rates of interest (CNRI). These rates are established in loanable funds markets and reflect adequate debt service capacity based on the underlying natural rates of return (NRR) of individual firms. These firm-specific natural rates of interest reflect natural returns, are countless in number and are viewed as key drivers of self-regulating, sustainable debt and economic growth rather than policy interest rates. Other topics featured are a historical overview of interest rate theory; an analysis of financial distortions in debt and equity mispricing; a novel accounting method to address artificially low financing costs for firms that benefit from taxpayer funds due to non-recognition of ownership; a distribution fitting exercise; fundamentals and pricing (with notes on dynamics in the crypto-asset space); and a review of policy interventions in the monetary realm. The analyses employ some three decades of financial data of a global firm in the consumer goods sector with a market capitalization of U.S. $200 billion as of 2017.

Economic Distortion Dynamics

2017-09-13
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Release : 2017-09-13
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Book Rating : 092/5 ( reviews)

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Book Synopsis Economic Distortion Dynamics by : Raoul Kennedy

Download or read book Economic Distortion Dynamics written by Raoul Kennedy. This book was released on 2017-09-13. Available in PDF, EPUB and Kindle. Book excerpt: What if we had a rough reference to make sense of the world and why some bad things happen. Drawing from economic theory and system dynamics, a conceptual model is explored in which economic distortions stem from returns that are disproportionate to cost-bearing. Policies responsible for such distortions can generate feedback loops that raise the risk of dislocation and tragic outcomes, including shortages and food crises, environmental damage, oversupply and waste, unjust wealth and impoverishment, asset bubble-crash cycles, violence, and human rights abuses. Moreover, the dynamics suggest an unsustainable path which threatens hardship for those of us who are dependent upon the current paradigm. Insights into complex economic systems are a vital first step towards sustainability and social justice. The potential dangers of certain interventions reviewed here invoke the precautionary principle-avoiding policy action when the impacts are systemic. It is hoped that the ideas presented can serve as a resource for anyone seeking a bigger picture in planning for the future.

Firm Dynamics During an Improvement in Financial Development

2009
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Release : 2009
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Book Synopsis Firm Dynamics During an Improvement in Financial Development by : James Costantini

Download or read book Firm Dynamics During an Improvement in Financial Development written by James Costantini. This book was released on 2009. Available in PDF, EPUB and Kindle. Book excerpt: A better set of financial institutions enables firm access to external finance with less consequent distortion of firm policies, such as investment, entry and exit policies. At the limit, there is no distortion. In contrast, there are many different ways that a poor set of financial institutions may distort firm policies. I consider how the transition towards better financial development depends on the type of poor financial development initially present. I develop a model in which firm dynamics, including entry, investment and exit, are affected by financial development. I contrast the transition to a financial system with no distortions from two initial states, one with restricted use of external finance by firms (e.g., credit constraints) and the other with lax use of external finance by firms (e.g., during a bubble). I highlight substantial differences in firm dynamics, including patterns of entry and price levels, across these two transitions towards better financial development.

Permanent Distortion

2022-10-11 Business & Economics
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Release : 2022-10-11
Genre : Business & Economics
Kind : eBook
Book Rating : 075/5 ( reviews)

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Book Synopsis Permanent Distortion by : Nomi Prins

Download or read book Permanent Distortion written by Nomi Prins. This book was released on 2022-10-11. Available in PDF, EPUB and Kindle. Book excerpt: A riveting exposé of a permanent financial dystopia, its causes, and real-world consequences It is abundantly clear that our world is divided into two very different economies. The real one, for the average worker, is based on productivity and results. It behaves according to traditional rules of money and economics. The other doesn’t. It is the product of years of loose money, poured by central banks into a system dominated by financial titans. It is powerful enough to send stock markets higher even in the face of a global pandemic and threats of nuclear war. This parting from reality has its roots in an emergency response to the financial crisis of 2008. “Quantitative Easing” injected a vast amount of cash into the economy—especially if you were a major Wall Street bank. What began as a short-term dependency became a habit, then a compulsion, and finally an addiction. Nomi Prins relentlessly exposes a world fractured by policies crafted by the largest financial institutions, led by the Federal Reserve, that have supercharged the financial system while selling out regular citizens and leading to social and political reckonings. She uncovers a newly polarized world of the mega rich versus the never rich, the winners and losers of an unprecedented distortion that can never return to “normal.”

Chaos & Nonlinear Dynamics in the Financial Markets

1995 Business & Economics
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Release : 1995
Genre : Business & Economics
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Book Synopsis Chaos & Nonlinear Dynamics in the Financial Markets by : Robert R. Trippi

Download or read book Chaos & Nonlinear Dynamics in the Financial Markets written by Robert R. Trippi. This book was released on 1995. Available in PDF, EPUB and Kindle. Book excerpt: Computer disk illustrates behavior of several of the chaotic processes discussed in text. Assists the user in viewing the change in a system from unstable to stable states.

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