Collateral Constraints, Financial Constraints, and Risk Management: Evidence From Anti-Recharacterization Laws

2021 ◽  
Author(s):  
Douglas J. Fairhurst ◽  
Yoonsoo Nam
2015 ◽  
Vol 7 (1) ◽  
pp. 1-43 ◽  
Author(s):  
Aloísio Araújo ◽  
Susan Schommer ◽  
Michael Woodford

We consider the effects of central bank purchases of a risky asset as an additional dimension of policy alongside “conventional” interest rate policy in a general-equilibrium model of asset pricing with endogenous collateral constraints. The effects of asset purchases depend on the way that they affect collateral constraints. We show that under some circumstances, central bank purchases relax financial constraints, increase aggregate demand, and may even achieve a Pareto improvement; but in other cases, they tighten financial constraints, reduce aggregate demand, and lower welfare. The latter case is almost certainly the one that arises if central bank purchases are sufficiently large. (JEL D51, E43, E44, E52, E58)


Author(s):  
Anita Gębska Kuczerowska ◽  
Artur Błoński ◽  
Joanna Kuczerowska ◽  
Robert Gajda

This article presents the research from the first phase of our study on blood-borne risk management, wherein we solicited epidemiologists’ and healthcare practitioners’ expert opinions on a blood-borne infection risk assessment in Poland. Forty-two experts were recommended by epidemiology consultants and recruited from all districts in Poland. We used the SWOT (Strengths, Weaknesses, Opportunities, Threats) method in the evaluation. Experts’ opinions showed that there is room for improvement in the prevention of blood-borne infections. Commonly reported weaknesses in the risk assessment included gaps in knowledge and inappropriate procedures, which are largely caused by financial constraints and practitioners’ lack of awareness of developments in their trade. Strengths included legal regulations for medical services and procedures, surveillance, and increasing awareness on the part of medical staff. When paired with the existing statistical data, these results provide a comprehensive view of the problem of blood-borne infections in Poland. The analysis supported the development of a strategy proposal to prevent blood-borne infections and enhance existing risk assessment procedures.


Author(s):  
David Mortimer ◽  
Sharon T. Mortimer
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