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alex yesikov

The 10 Banks Which Pose the Greatest Systemic Risk - Seeking Alpha - 1 views

seekingalpha.com/...ose-the-greatest-systemic-risk

Systemic Risk USA Banks Top 10 Future

shared by alex yesikov on 30 May 11 - No Cached
  • cently described the process that NYU uses to generate their results: The first step that Engle and colleagues propose is to calculate what they call the Marginal Expected Shortfall (MES) associated with a given financial institution. This is an estimate, based on recent dynamic variances and correlations of observed stock prices, of how much the stock valuation of a given institution would be expected to fall today if the overall market were to decline by more than 2%. This is essentially a time-varying tail-event beta, details of whose estimation can be found here.
naheekim

Canada's mortgage debt surpasses $1T for first time - CTV News - 3 views

www.ctv.ca/...mortgage-debt-101108

mortgage debt

shared by naheekim on 26 May 11 - No Cached
  • Canadians are carrying more mortgage debt than ever before, with the total crossing the $1 trillion threshold for the first time
  • Canada's total outstanding mortgage debt was $1.0008 trillion as of August 2010.
  • "Over the past 15 years, the volume of outstanding residential mortgages has expanded by 194 per cent, or a growth rate of 7.5 per cent per year,"
  • ...5 more annotations...
  • From 2004 to 2008 Canada's mortgage debt was growing at a rate of 10 per cent per year, but eased off as a result of the recession and hit 7.6 per cent in the most recent 12 month period
  • The report paints a positive picture of Canada's mortgage market, saying Canadian homeowners are comfortable with their mortgage debt, have "significant equity" and could even handle an increase in their interest rate.
  • In terms of interest rates, the report found that the average rate is 4.22 per cent, down from 4.55 per cent a year earlier. Among those who have financed or renewed a mortgage in the past year, the rate is 3.75 per cent.
  • Accordin g to the survey, 84 per cent of Canadians could afford an increase of $300 per month or more.
  • About 6 per cent of homeowners would have trouble with an increase of less than 1 per cent of their interest rate payment, and a further 5 per cent would have trouble with an increase of between 1 and 1.49 per cent
John wang

Economic inequality - 0 views

www.windsorstar.com/...story.html

economic inequality gini coefficient

shared by John wang on 02 Jun 11 - No Cached
dylan huber

Income inequality | The Economist - 0 views

www.economist.com/...income_inequality

Inequality Income solutions USA

shared by dylan huber on 02 Jun 11 - No Cached
  • Despite a quarter century during which incomes have drifted ever farther apart, the distribution of wealth has remained remarkably stable. The richest Americans now earn as big a share of overall income as they did a century ago, but their share of overall wealth is much lower. Indeed, it has barely budged in the few past decades.
  • distribution of wealth has remained remarkably stable. The richest Americans now earn as big a share of overall income as they did a century ago, but their share of overall wealth is much lower. Indeed, it has barely budged in the few past decades.
  • Productivity and globalisation have caused real income to rise much faster for those at the top of the income distribution than it has for the poor and middle class. High earners experienced more than a 30% increase in their real income over the last thirty years. Meanwhile, the bottom 50% of wage earners saw their real income increased by only 5-10%.
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  • Whether these shifts were good or bad depends on your political persuasion. Those on the left lament the gaps, often forgetting that the greater income disparities have created bigger incentives to get an education, which has led to a better trained, more productive workforce. The share of American workers with a college degree, 20% in 1980, is over 30% today.
  • the focus should be on giving everyone a an equal chance to be successful. This might mean making the tax code less regressive by expanding the earned income tax credit, eliminating tax subsidies to the rich, and improving access to quality education. 
Maria Li

Rate hikes okay for most but a 'financial shock' for many - The Globe and Mail - 0 views

www.theglobeandmail.com/...article2041683

Consumer Debt Mortgages

shared by Maria Li on 03 Jun 11 - No Cached
  • Most Canadians should be able to handle higher interest rates expected later this year, but many will still see a "financial shock," Toronto-Dominion Bank economists say
  • "The main question is how households will respond to the eventual rebalancing of monetary policy, TD economists Craig Alexander and Diana Petramala write in a new report that looks at indebtedness among Canadian households.
  • Canadians will experience a financial shock when interest rates eventually rise, but the vast majority of households should be able to cope so long as interest rates rise only gradually
  • ...4 more annotations...
  • Bank of Canada held its benchmark overnight rate steady at just 1 per cent, citing global uncertainty and the impact of the strong Canadian dollar, but said rates must eventually rise
  • Annual personal credit growth slowed to a year-over-year pace of 6.4 per cent in April, compared to an average 10.9 per cent in a period spanning 2004 to 2008
  • The moderation in credit growth has been evident in all measures of debt
  • The debt-service ratio, the interest households must pay on their debt each month as a share of personal disposable income, climbed to a two-year high of 7.6 per cent in [the first quarter of] 2011, despite still record low interest rates.
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