The Experts below are selected from a list of 18579 Experts worldwide ranked by ideXlab platform
Laurie Pounder Demarco - One of the best experts on this subject based on the ideXlab platform.
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How did a Domestic Housing slump turn into a global financial crisis
Journal of International Money and Finance, 2012Co-Authors: Steven B. Kamin, Laurie Pounder DemarcoAbstract:Abstract The global financial crisis clearly started with problems in the U.S. sub-prime sector and spread across the world from there. But was the direct exposure of foreigners to the U.S. financial system a key driver of the crisis, or did other factors account for its rapid contagion across the world? To answer this question, we assessed whether countries that held large amounts of U.S. mortgage-backed securities (MBS) and were highly dependent on dollar funding experienced a greater degree of financial distress during the crisis. We found little evidence of such direct spillovers from the United States to abroad. Although CDS spreads generally rose higher and bank stocks generally fell lower in countries with more exposure to U.S. MBS and greater dollar funding needs, these correlations were not robust, and they fail to explain the lion’s share of the deterioration in asset prices that took place during the crisis. Accordingly, less tangible channels of contagion may have played a more important role in the global spread of the crisis: a generalized run on global financial institutions, given the opacity of their balance sheets; excessive dependence on short-term funding; vicious cycles of mark-to-market losses driving fire sales of MBS; the realization that financial firms around the world were pursuing similar (flawed) business models; and global swings in risk aversion. The U.S. sub-prime crisis, rather than being a fundamental driver of the global crisis, may have been merely a trigger for a global bank run and for disillusionment with a risky business model that already had spread around the world.
Steven B. Kamin - One of the best experts on this subject based on the ideXlab platform.
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How did a Domestic Housing slump turn into a global financial crisis
Journal of International Money and Finance, 2012Co-Authors: Steven B. Kamin, Laurie Pounder DemarcoAbstract:Abstract The global financial crisis clearly started with problems in the U.S. sub-prime sector and spread across the world from there. But was the direct exposure of foreigners to the U.S. financial system a key driver of the crisis, or did other factors account for its rapid contagion across the world? To answer this question, we assessed whether countries that held large amounts of U.S. mortgage-backed securities (MBS) and were highly dependent on dollar funding experienced a greater degree of financial distress during the crisis. We found little evidence of such direct spillovers from the United States to abroad. Although CDS spreads generally rose higher and bank stocks generally fell lower in countries with more exposure to U.S. MBS and greater dollar funding needs, these correlations were not robust, and they fail to explain the lion’s share of the deterioration in asset prices that took place during the crisis. Accordingly, less tangible channels of contagion may have played a more important role in the global spread of the crisis: a generalized run on global financial institutions, given the opacity of their balance sheets; excessive dependence on short-term funding; vicious cycles of mark-to-market losses driving fire sales of MBS; the realization that financial firms around the world were pursuing similar (flawed) business models; and global swings in risk aversion. The U.S. sub-prime crisis, rather than being a fundamental driver of the global crisis, may have been merely a trigger for a global bank run and for disillusionment with a risky business model that already had spread around the world.
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How did a Domestic Housing Slump Turn into a Global Financial Crisis
SSRN Electronic Journal, 2010Co-Authors: Steven B. Kamin, Laurie PounderAbstract:The global financial crisis clearly started with problems in the U.S. subprime sector and spread across the world from there. But was the direct exposure of foreigners to the U.S. financial system a key driver of the crisis, or did other factors account for its rapid contagion across the world? To answer this question, we assessed whether countries that held large amounts of U.S. mortgage-backed securities (MBS) and were highly dependent on dollar funding experienced a greater degree of financial distress during the crisis. We found little evidence of such direct contagion from the United States to abroad. Although CDS spreads generally rose higher and bank stocks generally fell lower in countries with more exposure to U.S. MBS and greater dollar funding needs, these correlations were not robust, and they fail to explain the lion's share of the deterioration in asset prices that took place during the crisis. Accordingly, channels of indirect contagion may have played a more important role in the global spread of the crisis: a generalized run on global financial institutions, given the opacity of their balance sheets; excessive dependence on short-term funding; vicious cycles of mark-to-market losses driving fire sales of MBS; the realization that financial firms around the world were pursuing similar (flawed) business models; and global swings in risk aversion. The U.S. subprime crisis, rather than being a fundamental driver of the global crisis, may have been merely a trigger for a global bank run and for disillusionment with a risky business model that already had spread around the world.
Phillip Frank Gower Banfill - One of the best experts on this subject based on the ideXlab platform.
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Whole life costing of Domestic energy demand reduction technologies: householder perspectives
Construction Management and Economics, 2010Co-Authors: Giuseppe Pellegrini-masini, Graeme Bowles, Andrew Peacock, M Ahadzi, Phillip Frank Gower BanfillAbstract:A recent, major UK research project investigated technical and social aspects of reducing the CO2 emissions of UK Domestic Housing by 50% by the year 2030. As 80% of the UK Housing stock that will be present in 2030 has already been built, this study aimed to research the whole life costs of three sets of energy demand reduction technologies for existing Housing, over a 25-year period, suitable to deliver significant CO2 emissions reduction up to 50%. Demand side technological interventions in the form of fabric upgrades and ventilation systems are identified. Whole life cycle analysis of interventions carried out on two Housing variants prominent in the Domestic stock under different energy price scenarios is carried out using discounted cash flow and compared with the do-nothing option. The results show that, despite reducing annual energy bills, there is no clear financial case even over a 25-year horizon for householders to invest in the proposed interventions that contribute to CO2 emission reduction targets. When discussed with respect to household income and consumption preferences, the results reveal the need for new policy approaches to overcome the financial and non-financial hurdles for a mass uptake of energy efficient technologies.
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Whole life costing of Domestic energy demand reduction technologies: householder perspectives
Construction Management and Economics, 2010Co-Authors: Giuseppe Pellegrini-masini, Graeme Bowles, Andrew Peacock, M Ahadzi, Phillip Frank Gower BanfillAbstract:A recent, major UK research project investigated technical and social aspects of reducing the CO2 emissions of UK Domestic Housing by 50% by the year 2030. As 80% of the UK Housing stock that will be present in 2030 has already been built, this study aimed to research the whole life costs of three sets of energy demand reduction technologies for existing Housing, over a 25‐year period, suitable to deliver significant CO2 emissions reduction up to 50%. Demand side technological interventions in the form of fabric upgrades and ventilation systems are identified. Whole life cycle analysis of interventions carried out on two Housing variants prominent in the Domestic stock under different energy price scenarios is carried out using discounted cash flow and compared with the do‐nothing option. The results show that, despite reducing annual energy bills, there is no clear financial case even over a 25‐year horizon for householders to invest in the proposed interventions that contribute to CO2 emission reduction...
Henry Robert Milner - One of the best experts on this subject based on the ideXlab platform.
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Sustainability of engineered wood products
Sustainability of Construction Materials, 2016Co-Authors: Henry Robert Milner, A.c. WoodardAbstract:Engineered wood products (EWPs) are made from a variety of wood substances that are either bonded by an adhesive or mechanically fastened by nail plates. The technology functions by redistributing and reinforcing natural defects and by forming the products into structurally efficient shapes unachievable by sawing, thereby ‘doing more with less’ wood fibre. While additional energy resources are required to process EWPs, they remain largely renewable, except for the adhesives and metal fasteners, and thus sustainable compared with competing materials that involve considerable mining. This chapter describes the manufacture of those products and describes their use in Domestic Housing and larger public building construction. It focuses on the critical issues of durability, structural safety and fire resistance, which become more critical in larger structures where EWPs are the principal load-bearing components.
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Sustainability of engineered wood products in construction
Sustainability of Construction Materials, 2009Co-Authors: Henry Robert MilnerAbstract:Abstract: Engineered wood products are made from a variety of wood substances which are held together by an adhesive; the aim being to use the wood fibre more efficiently by redistributing and reinforcing natural defects and by forming the products into structurally efficient shapes unachievable by sawing, thereby doing more with less wood fibre. While additional energy resources are required to process engineered wood products they remain largely renewable and thus sustainable compared with competing materials that involve considerable mining. This chapter describes the manufacture of these wood products, reviews life cycle analysis (LCA) studies of their application to Domestic Housing and describes their use in larger public buildings.
Ralph Horne - One of the best experts on this subject based on the ideXlab platform.
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Living Lightly: How does Climate Change Feature in Residential Home Improvements and What are the Implications for Policy?
Urban Policy and Research, 2011Co-Authors: Cecily Maller, Ralph HorneAbstract:Ageing Domestic Housing stock is frequently remodelled and remade to suit homeowners' aspirations and to comply with changing expectations about the home, its appearance and function. In the context of preparing for climate change, it can be argued that significant improvements to existing stock and changes to how it is inhabited are required to improve the environmental performance of residential dwellings. Yet home improvement, environmental performance and household practice rarely occur together in social enquiry. Drawing on Hobson's framing of the ‘rationalisation discourse of sustainable consumption’ we explore the assumed links between homeowners' concerns for the environment, home improvement consumption and household practice. Amongst other findings, we demonstrate that although there is some association amongst these elements, the links are weak. To achieve real change towards climate change mitigation we suggest future policy and programs need to look beyond such simple causal links between att...