The issuance of Family Cards for unregistered marriages submitted by the Director General Population and Civil Registry Ministry Home Affairs has caused a polemic in Indonesian positive law, because statement is not accordance with regulations Law Number 1 1974. In this regulation it been stated that are considered valid State if carried out religion registered an authorized official, reason, m...

This paper uses issuance-level data to study how equity capital inflows that enter emerging market economies affect issuance and corporate investment. It shows foreign are strongly correlated with country-level issuance. The relation especially reflects the behavior of large firms. To identify supply-side shocks, into each country instrumented exogenous changes in other countries’ attractivenes...

February 2000 www.dcrco.com n recent years, collateralized debt obligations (CDOs) have emerged as one of the largest and fastest growing sectors of the asset-backed securities (ABS) market. Due to increasing use of bond and loan collateral within one transaction, the term collateralized debt obligation is becoming more popular, and the terms collateralized bond obligation (CBO) and collaterali...

The objective of this note is to show that the positively valued excess supplies which Aiyagari (1992) connects with Pareto inefficiency for overlapping generations economies represent an economic opportunity that can potentially be exploited by government or by a private financial intermediary through the issuance of unsecured debt. We demonstrate that, when unsecured debt is issued, Walras’ L...

The issuance of treasury bonds is the basis and starting point operation bonds. However, there are many deficiencies in current legal regulation on Therefore, this paper calls for formulation a basic law "National Treasury Bond Law" to solve problem bond issuance. various it.

We analyze asset-backed commercial paper conduits which played a central role in the early phase of the financial crisis of 2007-09. We document that commercial banks set up conduits to securitize assets while insuring the newly securitized assets using credit guarantees. The credit guarantees were structured to reduce bank capital requirements, while providing recourse to bank balance sheets f...

Stock-market trading is increasingly dominated by sophisticated professionals, as opposed to individual investors. Will this trend ultimately lead to greater market efficiency? I consider two complicating factors. The first is crowding—the fact that, for a wide range of “unanchored” strategies, an arbitrageur cannot know how many of his peers are simultaneously entering the same trade. The seco...