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Euro Area Policies: Financial Sector Assessment Program-Technical Note-Systemic Risk Analysis

2018 IMF Staff Country Reports  
Figure 21 . 21 Euro Area: Scenario Conditional PD Forecasts Scenario Conditional PD Forecasts (In Percent) Scenario Conditional Forecast -Multiples (Ratio: PD Adverse (max) / PD Baseline (av.))  ...  Bilateral spillovers between the euro area and U.S. bank systems is used as an illustration.  ...  This functional form for the skewed t-distribution is based on that motivated by Fernandez and Steel (1998) , further explored and refined in Giot and Laurent (2003) and Lambert and Laurent (2002)  ... 
doi:10.5089/9781484369586.002 fatcat:6ukf66amoncr7aa5srx2buqh4m

Financial Activities Taxes, Bank Levies, and Systemic Risk [chapter]

Giuseppina Cannas, Jessica Cariboni, Massimo Marchesi, Gaëtan Nicodème, Marco Petracco Giudici, Stefano Zedda
2015 Taxation and Regulation of the Financial Sector  
In parallel, we compute FAT liabilities for individual banks under three designs of the tax and look at correlations between those liabilities and individual contributions to systemic risk.  ...  Table ( 4 ( ): Estimated distributions of systemic excess losses in Scenario 1-Million Euro(Capital ≥ 8% RWA, Contagion) 90 95 96 97 98 99 99.5 99.9 99.95 99.99 99.995 99.999 BE - - -  ...  ANNEX A: Description of the sample of banks for the SYMBOL simulations Table 11a . 17 Data on interbank credits was not available for BG and CY so equality of interbank debits and credits has been assumed  ... 
doi:10.7551/mitpress/9780262027977.003.0010 fatcat:whsl6wtb2jdo7f6xvf75ldrbee

Euro Area Policies: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector

2018 IMF Staff Country Reports  
Financial vulnerabilities in the euro area remain significant, 6 though unevenly distributed across countries and segments of their financial systems:  In certain euro area countries, households, nonfinancial  ...  in the euro area payment system. 20.  ...  balance sheets, intra-euro area rebalancing.  ... 
doi:10.5089/9781484369401.002 fatcat:5gephvav5bgfjds5anucm7mkom

An MVAR Framework to Capture Extreme Events in Macro-Prudential Stress Tests

Paolo Guarda, Abdelaziz Rouabah, John Theal
2012 Social Science Research Network  
The research is carried out in three work streams: 1) Macro-financial models linking financial stability and the performance of the economy; 2) Early warning systems and systemic risk indicators; 3) Assessing  ...  The network is composed of economists from the European System of Central Banks (ESCB), i.e. the 27 national central banks of the European Union (EU) and the European Central Bank.  ...  Wong and T. P. Fong for their valuable help and suggestions and for their explanation of the calculation of the standard errors for the estimated MVAR parameters.  ... 
doi:10.2139/ssrn.2128483 fatcat:lq2iajbaqjf3pfg5j3rmrpgrem

Overconfident behavior in informational cascades: An eye-tracking study

Alessandro Innocenti, Alessandra Rufa, Jacopo Semmoloni
2010 Journal of Neuroscience Psychology and Economics  
In particular, we find a significant statistical correlation between first fixations and subjects' actual choices.  ...  They received a participation fee of five euros and were also paid according to the euros earned. The average earning was 21.4 euros.  ...  The fixing cross was shown for 2 seconds and A (FC left -PD right) 9 (4 ϩ 5) 2 A (FC left -PD right) 9 (5 ϩ 4) 3 A (FC left -PD right) 9 (6 ϩ 3) 4 B (PD left -FC right) 9 (4 ϩ 5) 5 B (PD left -FC right  ... 
doi:10.1037/a0018476 fatcat:ssmrkx3ndfa5lcdzxu3l3sgnwq

Particle Number Measurements Directly from the Tailpipe for Type Approval of Heavy-Duty Engines

Barouch Giechaskiel, Tero Lähde, Matthias Schwelberger, Timo Kleinbach, Helge Roske, Enrico Teti, Tim van den Bos, Patrick Neils, Christophe Delacroix, Tobias Jakobsson, Hua Lu Karlsson
2019 Applied Sciences  
However, for particle number systems, which measure in real time, this is not necessary and a fixed dilution could be used.  ...  of the system.  ...  These changes have to do with the change of the size distribution and the losses inside the systems.  ... 
doi:10.3390/app9204418 fatcat:je4uafcsyva2hlm7yvqmwjky44

Renal Transplantation in Romania: Where Do We Stand?

Gabriel Stefan, Liliana Garneata, Dorina Tacu, Cristina Bucsa, Ioanel Sinescu, Gabriel Mircescu
2015 MAEDICA – a Journal of Clinical Medicine  
In an intention-to-treat analysis using Kaplan-Meier and Cox proportional hazard (CPH) models, survival was compared between 8050 incident HD, 1000 PD and 490 KTx patients treated between 2008 and 2011  ...  As compared to HD and PD patients, the KTx recipients were younger, more often of male gender, and had glomerulonephritis as primary renal disease (PRD) more frequently.  ...  According to the RRR, HD has the highest esti-mated cost for one patient per year -17,000 Euro, followed by PD with 12,500 Euro and KTx with 11,750 Euro (7).  ... 
pmid:28465729 pmcid:PMC5394443 fatcat:fpbqxvmv2rhktoapflnazytcgu

An Overview of Lean Exhaust deNOx Aftertreatment Technologies and NOx Emission Regulations in the European Union

Tommaso Selleri, Anastasios D. Melas, Ameya Joshi, Dario Manara, Adolfo Perujo, Ricardo Suarez-Bertoa
2021 Catalysts  
In parallel, it is explained how the gradual introduction of small-scale devices aimed at the NOx control, such as lean NOx traps (LNTs) systems, and, most of all, the selective catalytic reduction (SCR  ...  systems (ATSs).  ...  on alumina or ceria [98] , Ag-based systems able to store NOx under rich conditions [99] , or Pd zeolites [100] .  ... 
doi:10.3390/catal11030404 fatcat:afcrai4m2bbxbjv4qiybekcxju

Italy: Technical Note on Stress Testing The Banking Sector

International Monetary Fund
2013 IMF Staff Country Reports  
This amount exceeds Italian banks' total maturing wholesale debt during the next three years, and is equivalent to one-quarter of the total euro system take-up.  ...  The Bank of Italy (BI) and the FSAP team ran parallel solvency stress tests using different methodologies but the same data and macroeconomic scenarios.  ...  Cassa Depositi e Prestiti (CDP) plays a unique role in the Italian financial system.  ... 
doi:10.5089/9781475514445.002 fatcat:7gzwjvkrpbdchmgeqggfyyscsu

Deriving consensus ratings of the big three rating agencies

Bettina Grün, Paul Hofmarcher, Kurt Hornik, Christoph Leitner, Christoph Leitner
2013 The Journal of Credit Risk  
The distributions show also that the granularity of the three rating systems is equal in the relevant segment of this rating data.  ...  systems.  ... 
doi:10.21314/jcr.2013.156 fatcat:wrnczjsoofchvc3ia3dd53bnmq

The novel photon detectors based on MPGD technologies for the upgrade of COMPASS RICH-1 [article]

J.Agarwala, M.Alexeev, C.D.R.Azevedo, R.Birsa, F.Bradamante, A.Bressan, C.Chatterjee, M.Chiosso, A.Cicuttin, P.Ciliberti, M.L.Crespo, S.Dalla Torre, S.S.Dasgupta, O.Denisov (+18 others)
2018 arXiv   pre-print
The signals are extracted from the anode pads by capacitive coupling and read-out by analog front-end electronics based on the APV25 chip.  ...  The assembly of the MPGD components and the installation of the new detectors are illustrated together with the main aspects of the commissioning.  ...  Before the 2017 run a refurbishing of the grounding distribution system for the Hybrid PDs was performed: now the typical electronic noise for the new detector channels is ∼ 800 equivalent electrons r.m.s  ... 
arXiv:1804.05765v1 fatcat:5mctdqzc2jgx5glyb4ppt547zi

Abstracts of Working Papers in Economics

2001 Abstracts of Working Papers in Economics  
Individuals are altruistic and give their offspring education and bequests. We study the incidence of three education systems on the human capital of the offspring.  ...  We show that an unfunded social security system may be good for growth. Olters, Jan-Peter Rodriguez Mendizabal, Hugo  ...  PD November 2000. TI A Money Demand System for Euro Area M3. AU Brand, Klaus; Cassola, Nuno. AA European Central Bank.  ... 
doi:10.1017/s0951007900005441 fatcat:t6dkdz4vfzcdhekrmsa2yjmjfm

Ireland: Financial Sector Assessment Program: Technical Note-Stress Testing the Banking System

International Monetary Fund
2016 IMF Staff Country Reports  
The stress tests examined the resilience of the Irish banking system to solvency, liquidity, and contagion risks.  ...  These risks arise mostly from a protracted period of weak growth in advanced economies, particularly in the euro area, which would affect the Irish economy through lower investment and direct investment  ...  In the severe stress scenario, bank loan loss provisions would rise in parallel with higher PD and LGD, with negative effects on profitability.  ... 
doi:10.5089/9781475542226.002 fatcat:vpaxa537nbdrffynk62q47auli

Short-Selling Bans and Bank Stability

Alessandro Beber, Daniela Fabbri, Marco Pagano
2015 Social Science Research Network  
In both the 2008-09 subprime crisis and the 2011-12 euro debt crisis, security regulators imposed bans on short sales, designed mainly with financial institutions in mind.  ...  Nor did the ban in 2011 do anything to mitigate the "diabolic loop" between bank and sovereign insolvency risk during the euro-area sovereign debt crisis. JEL Classification: G01, G12, G14, G18  ...  (GRI) and the 4th ME@Ravello Workshop for helpful comments, and Viral Acharya, Robert Capellini and Michael Robles (NYU V-Lab) for providing data about SRISK.  ... 
doi:10.2139/ssrn.2710371 fatcat:nwau6rzifre35gbtskmqbdwrta

Development of membrane reactor technology for power production with pre-combustion CO2 capture

Jan Wilco Dijkstra, Johannis A.Z. Pieterse, Hui Li, Jurriaan Boon, Yvonne C. van Delft, Gunabalan Raju, Gerard Peppink, Ruud W. van den Brink, Daniel Jansen
2011 Energy Procedia  
A bench scale multi-tube membrane reactor with a capacity up to 8 parallel tubes has been successfully operated for separation, membrane water-gas shift and membrane reforming experiments.  ...  Developments in the field of membrane manufacturing, bench scale testing, module modeling and technoeconomic evaluations are discussed.  ...  used in both tests A good gas distribution between the parallel tubes in the setup is essential for obtaining an even performance.  ... 
doi:10.1016/j.egypro.2011.01.110 fatcat:xoarwj7w4fdmpprdlk47plgtha
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