Aviram Levy - Academia.edu (original) (raw)

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Papers by Aviram Levy

Research paper thumbnail of The Design of Government Guarantees for Bank Bonds

OECD Journal: Financial Market Trends, 2010

In 2010 authorities have taken the first steps to end some of the public support measures put in ... more In 2010 authorities have taken the first steps to end some of the public support measures put in place in response to the financial crisis, starting with government guarantees for bond issues. Financial institutions have made extensive use of this tool, which has been ...

Research paper thumbnail of Financial structure and the transmission of monetary shocks: preliminary evidence for the Czech Republic, Hungary and Poland

The paper analyses the financial structure of the private sector in the Czech Republic, Hungary a... more The paper analyses the financial structure of the private sector in the Czech Republic, Hungary and Poland and assesses its implications for the monetary transmission mechanism. The financial accounts of these countries provide a picture of a private sector which is predictably financially less mature than the EU average: the corporate sector relies significantly on non-market financial liabilities (such as

Research paper thumbnail of Global liquidity in the 1990s: geographical allocation and long-run determinants

Business Information Systems, 2000

Research paper thumbnail of Public guarantees on bank bonds: Effectiveness and distortions

Financial Crisis Containment and Government Guarantees, 2013

Research paper thumbnail of Public Guarantees on Bank Bonds

OECD Journal: Financial Market Trends, 2012

Research paper thumbnail of The Pricing of Government-Guaranteed Bank Bonds

SSRN Electronic Journal, 2000

Research paper thumbnail of An Assessment of Financial Sector Rescue Programmes

SSRN Electronic Journal, 2000

Research paper thumbnail of The Recent Behaviour of Financial Market Volatility

SSRN Electronic Journal, 2000

Research paper thumbnail of The Recent Behaviour of Financial Markets Volatility

SSRN Electronic Journal, 2000

Research paper thumbnail of Cross-border deposits, aggregation, and money demand in the transition to EMU

Journal of Policy Modeling, 1994

ABSTRACT This paper discusses the relevance of cross-border deposits (CBDs) for the stability of ... more ABSTRACT This paper discusses the relevance of cross-border deposits (CBDs) for the stability of the relation between monetary aggregates and nominal GDP in the five largest EEC countries. The importance of the issue derives from two facts. Firstly, CBDs have recently increased sharply in many EEC countries, casting doubts on the adequacy of existing monetary aggregates that exclude them. Secondly, current monetary policy coordination within the EEC emphasizes the role of quantitative monetary indicators. The analysis is developed in terms of the “information content” of alternative money definitions (including or excluding selected subsets of CBDs), derived from a multicountry simultaneous system of money demand equations. We show that in the most recent period, traditional broad money aggregates are dominated by alternative money definitions that include CBDs, such as those based on the residency of the holder or on the currency of denomination. We also use the model to test hypotheses concerning multicountry aggregation of money demands.

Research paper thumbnail of Monetary policy shocks in the new EU members: a VAR approach

Research paper thumbnail of Cross-Border Deposits and Monetary Aggregates in the Transition to EMU

IMF Working Papers, 1991

... Order Information: Web: http://www.imf.org/external/pubs/pubs/ord\_info.htm. For technical que... more ... Order Information: Web: http://www.imf.org/external/pubs/pubs/ord_info.htm. For technical questions regarding this item, or to correct its listing, contact: (Jim Beardow) or (Christopher F. Baum). ... Other versions of this item: Paper: Angeloni, I. & Cottarelli, C. & Levy, A., 1992. ...

Research paper thumbnail of The Design of Government Guarantees for Bank Bonds

OECD Journal: Financial Market Trends, 2010

In 2010 authorities have taken the first steps to end some of the public support measures put in ... more In 2010 authorities have taken the first steps to end some of the public support measures put in place in response to the financial crisis, starting with government guarantees for bond issues. Financial institutions have made extensive use of this tool, which has been ...

Research paper thumbnail of Financial structure and the transmission of monetary shocks: preliminary evidence for the Czech Republic, Hungary and Poland

The paper analyses the financial structure of the private sector in the Czech Republic, Hungary a... more The paper analyses the financial structure of the private sector in the Czech Republic, Hungary and Poland and assesses its implications for the monetary transmission mechanism. The financial accounts of these countries provide a picture of a private sector which is predictably financially less mature than the EU average: the corporate sector relies significantly on non-market financial liabilities (such as

Research paper thumbnail of Global liquidity in the 1990s: geographical allocation and long-run determinants

Business Information Systems, 2000

Research paper thumbnail of Public guarantees on bank bonds: Effectiveness and distortions

Financial Crisis Containment and Government Guarantees, 2013

Research paper thumbnail of Public Guarantees on Bank Bonds

OECD Journal: Financial Market Trends, 2012

Research paper thumbnail of The Pricing of Government-Guaranteed Bank Bonds

SSRN Electronic Journal, 2000

Research paper thumbnail of An Assessment of Financial Sector Rescue Programmes

SSRN Electronic Journal, 2000

Research paper thumbnail of The Recent Behaviour of Financial Market Volatility

SSRN Electronic Journal, 2000

Research paper thumbnail of The Recent Behaviour of Financial Markets Volatility

SSRN Electronic Journal, 2000

Research paper thumbnail of Cross-border deposits, aggregation, and money demand in the transition to EMU

Journal of Policy Modeling, 1994

ABSTRACT This paper discusses the relevance of cross-border deposits (CBDs) for the stability of ... more ABSTRACT This paper discusses the relevance of cross-border deposits (CBDs) for the stability of the relation between monetary aggregates and nominal GDP in the five largest EEC countries. The importance of the issue derives from two facts. Firstly, CBDs have recently increased sharply in many EEC countries, casting doubts on the adequacy of existing monetary aggregates that exclude them. Secondly, current monetary policy coordination within the EEC emphasizes the role of quantitative monetary indicators. The analysis is developed in terms of the “information content” of alternative money definitions (including or excluding selected subsets of CBDs), derived from a multicountry simultaneous system of money demand equations. We show that in the most recent period, traditional broad money aggregates are dominated by alternative money definitions that include CBDs, such as those based on the residency of the holder or on the currency of denomination. We also use the model to test hypotheses concerning multicountry aggregation of money demands.

Research paper thumbnail of Monetary policy shocks in the new EU members: a VAR approach

Research paper thumbnail of Cross-Border Deposits and Monetary Aggregates in the Transition to EMU

IMF Working Papers, 1991

... Order Information: Web: http://www.imf.org/external/pubs/pubs/ord\_info.htm. For technical que... more ... Order Information: Web: http://www.imf.org/external/pubs/pubs/ord_info.htm. For technical questions regarding this item, or to correct its listing, contact: (Jim Beardow) or (Christopher F. Baum). ... Other versions of this item: Paper: Angeloni, I. & Cottarelli, C. & Levy, A., 1992. ...

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