Suchergebnisse

This study investigates the impact of diversification between traditional margin income and nontraditional income (noninterest-based income) on bank risk-taking and bank lending spread for banks operating in Pakistan. Bank risk is measured with the nonperforming loan ratio and bank [Formula: see text]-score. Data of this study is obtained from financial statements, which are an annual publication of State Bank of Pakistan, for the period 2006–2016 for 52 banks in Pakistan. Panel regression with the generalized method of moments (GMM) estimator is employed. The study reveals that an increase in noninterest income increases bank risk-taking (spending on highly risky assets), as noninterest income is riskier than interest income. It is also revealed that banks with greater dependence on noninterest income may grant a loan with lower lending spread. These results have implications for the betterment of the banking system, regulatory authority, and stakeholders as well. From a regulatory perspective, the study provides guidelines for making rules and regulations to control and monitor the dependence on noninterest income as well as on interest income. Pakistan banks regulatory authority should focus on the increase in disclosure of the composition of noninterest income and this disclosure would increase understanding of changing environment of banking in Pakistan.

Comparative sociologists have long considered occupations to be a key source of inequality. However, data constraints make comparative research on two of the more important contemporary drivers of occupational stratification - globalization and technological change - relatively scarce. This article introduces a new dataset on occupational "routine task intensity" (RTI) and "offshorability" (OFFS) for use with the Luxembourg Income Study (LIS) Database. To produce these data, we recoded 23 country-specific occupational schemes (74 LIS countryyears) to the two-digit ISCO-88 scheme. When combined with the handful of LIS countries already reporting their occupations in ISCO-88, we produce individual level RTI and OFFS scores for 38 LIS countries and 160 LIS country-years. To assess the validity of these recodes, we compare average labor-income ratios predicted by recoded ISCO-88 occupational categories to those predicted by reported ISCO-88 occupational categories within countries that transitioned from country-specific to ISCO-88 codes over time. To assess the utility of these RTI and OFFS scores and advance the literature on income polarization, we analyze their association with work hours and labor incomes in the global North and South. Both covariates correlate with work hours in ways that are consistent with previous research and additional theoretical considerations. Moreover, we show that both RTI and OFFS contribute to income polarization directly in the North, but not in the South. This article generates a public good data infrastructure that will be of use to a wide variety of social scientists, and brings new evidence to bear on the question of income polarization in rich democracies.

This article aims at answering the following questions: (1) What is the influence of age structure on the spread of coronavirus disease 2019 (COVID-19)? (2) What can be the impact of stringency policy (policy responses to the coronavirus pandemic) on the spread of COVID-19? (3) What might be the quantitative effect of development levelincome and number of hospital beds on the number of deaths due to the COVID-19 epidemic? By employing the methodologies of generalized linear model, generalized moments method, and quantile regression models, this article reveals that the shares of median age, age 65, and age 70 and older population have significant positive impacts on the spread of COVID-19 and that the share of age 70 and older people in the population has a relatively greater influence on the spread of the pandemic. The second output of this research is the significant impact of stringency policy on diminishing COVID-19 total cases. The third finding of this paper reveals that the number of hospital beds appears to be vital in reducing the total number of COVID-19 deaths, while GDP per capita does not affect much the level of deaths of the COVID-19 pandemic. Finally, this article suggests some governmental health policies to control and decrease the spread of COVID-19.

Comparative sociologists have long considered occupations to be a key source of inequality. However, data constraints make comparative research on two of the more important contemporary drivers of occupational stratification – globalization and technological change – relatively scarce. This article introduces a new dataset on occupational 'routine task intensity' (RTI) and 'offshorability' (OFFS) for use with the Luxembourg Income Study (LIS). To produce these data, we recoded 23 country-specific occupational schemes (74 LIS country-years) to the two-digit ISCO-88 scheme. When combined with the handful of LIS countries already reporting their occupations in ISCO-88, we produce individual level RTI and OFFS scores for 38 LIS countries and 160 LIS country-years. To assess the validity of these recodes, we compare average labor-income ratios predicted by recoded ISCO-88 occupational categories to those predicted by reported ISCO-88 occupational categories within countries that transitioned from country-specific to ISCO-88 codes over time. To assess the utility of these RTI and OFFS scores and advance the literature on income polarization, we analyze their association with work hours and labor incomes in the global North and South. Both covariates correlate with work hours in ways that are consistent with previous research and additional theoretical considerations. Moreover, we show that both RTI and OFFS contribute to income polarization directly in the North, but not in the South. This article generates a public good data infrastructure that will be of use to a wide variety of social scientists, and brings new evidence to bear on the question of income polarization in rich democracies.

An empirical study is presented of the regional patterns of the Chilean economy & its changes between 1950 & 1964. Most of the data are drawn from published & unpublished work of Chilean government agencies. A survey of manufacturing, agriculture, & mining activity broken down by province that shows how importantly economic activity was pulled to Santiago & Valparaiso, the nation's Ur center is included. A discussion of factor income shares & the location of income recipients demonstrates that interregional income flows to the Ur center generated in the outlying provinces worked against any regional economic balance that might be expected as a result of interregional demand multipliers, & data are presented which show that the quality & quantity of labor migration following the flow of purchasing power further weakened the economies of the outlying provinces. Turning to the public sector, the central government dispersed its expenditures by region counter to the centralizing tendency of the private sector, with the result that the regional balance of welfare indices relevant to the poorer majority increased while indices relating to wealth & power became more concentrated geographically. Finally, following a discussion of competing models of regional analysis & their relevance to Chile, the conclusion is that centralizing forces imbedded within Chile's economic & social structure are so powerful that only changes in that structure affect them. AA.

Verena Anna Berger investigates the question to what extent credit default swap spreads are impacted by an increase of government bond yields within the European area. In the first step, these spreads are computed with the help of the Hull-White model to demonstrate the theoretical calculation. The main findings which are calculated by using the Fontana-Scheicher model show that a negative impact on credit default swap spreads is observed based on the analysed data. However, there is high variation between the analysed countries so that a country-specific evaluation instead of a general review is recommended by the author. Contents " Theoretical underpinnings " Modelling credit default swap prices " Simulation of government bond spread increase Target Groups " Lecturers and students of finance, asset management " Experts in asset management, sovereign bond markets and credit default swaps The Author Verena Anna Berger graduated from the University of Applied Science Vienna with a Master of Arts in Quantitative Asset and Risk Management. As a risk manager, she is currently employed by an investment company.--

Background: On January 21, 2020, the World Health Organization reported the first case of severe acute respiratory syndrome coronavirus 2, which rapidly evolved to the COVID-19 pandemic. Since then, the virus has also rapidly spread among Latin American, Caribbean, and African countries. Objective: The first aim of this study is to identify new emerging COVID-19 clusters over time and space (from January 21 to mid-May 2020) in Latin American, Caribbean, and African regions, using a prospective space–time scan measurement approach. The second aim is to assess the impact of real-time population mobility patterns between January 21 and May 18, 2020, under the implemented government interventions, measurements, and policy restrictions on COVID-19 spread among those regions and worldwide. Methods: We created a global COVID-19 database, of 218 countries and territories, merging the World Health Organization daily case reports with other measures such as population density and country income levels for January 21 to May 18, 2020. A score of government policy interventions was created for low, intermediate, high, and very high interventions. The population's mobility patterns at the country level were obtained from Google community mobility reports. The prospective space–time scan statistic method was applied in five time periods between January and May 2020, and a regression mixed model analysis was used. Results: We found that COVID-19 emerging clusters within these five periods of time increased from 7 emerging clusters to 28 by mid-May 2020. We also detected various increasing and decreasing relative risk estimates of COVID-19 spread among Latin American, Caribbean, and African countries within the period of analysis. Globally, population mobility to parks and similar leisure areas during at least a minimum of implemented intermediate-level control policies (when compared to low-level control policies) was related to accelerated COVID-19 spread. Results were almost consistent when regional stratified analysis was applied. In addition, worldwide population mobility due to working during high implemented control policies and very high implemented control policies, when compared to low-level control policies, was related to positive COVID-19 spread. Conclusions: The prospective space–time scan is an approach that low-income and middle-income countries could use to detect emerging clusters in a timely manner and implement specific control policies and interventions to slow down COVID-19 transmission. In addition, real-time population mobility obtained from crowdsourced digital data could be useful for current and future targeted public health and mitigation policies at a global and regional level. ; DF is a Serra Húnter Fellow and was supported by Marsden grant E2987-3648 administrated by the Royal Society of New Zealand, and by grant 2017 SGR 622 (GRBIO) administrated by the Departament d'Economia i Coneixement de la Generalitat de Catalunya (Spain) ; Peer Reviewed ; Postprint (published version)

The Complete Book of Option Spreads and Combinations will be the definitive educational resource and reference guide for using option spreads and other sophisticated option strategies. Option spread trading has grown rapidly in recent years due to the reduction in brokerage commissions and ease of execution through electronic platforms. Author Scott Nations will cover vertical spreads, calendar spreads, ratio spreads, diagonal spreads, butterflys, iron butterflys, straddles, strangles, condors, and iron condors. Nations will describe the inner workings of each strategy, describing how the strategies are impacted by movements in the underlying market, implied volatility, and time decay. Most importantly, he identifies market conditions where each strategy performs well and market conditions where each strategy should be avoided. Readers will learn: n How to generate monthly income by selling covered stranglesn Using call spreads to recover from a losing stock positionn Using put diagonals to protect an existing stock positionn The best strategies for directional market plays Once the proper strategy is suggested, Nations shows how to identify the best options to use based on "moneyness" (in-the-money, out-of-the-money or at-the-money) and time to expiration. He then describes how to monitor, adjust, and close each trade to maximize profits and minimize losses. Comprehensive and authoritative, The Complete Book of Option Spreads and Combinations will provide traders with a valuable how-to manual and a lasting reference.

This paper constructs a simple general equilibrium model to analyse the interactions between the financial and the real sector in an environment where liquidity holdings is an input of the credit/investment process. The supply of liquidity is constrained in that income pledgeability limits inside liquidity, and not all sovereign debt is safe/liquid. We pin down the determinants of liquidity/collateral premia and bond spreads, and with reference to the eurozone: (i) the implications of the ECB's policies on liquidity provision and credit, and (ii) the debt management policy that would increase welfare with no need for transfer payments.