Descargar Presentación del Seminario - Banco Security
Descargar Presentación del Seminario - Banco Security
Descargar Presentación del Seminario - Banco Security
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15.10<br />
14.85<br />
14.60<br />
14.35<br />
Mar‐09<br />
No es el apalancamiento…<br />
Broker‐Dealer balance sheets (FF data)<br />
11.50<br />
log(Equity) ‐ left axis<br />
log(Assets) ‐right axis<br />
11.25<br />
11.00<br />
10.75<br />
10.50<br />
10.25<br />
10.00<br />
Mar‐98<br />
Jul‐98<br />
Nov‐98<br />
Mar‐99<br />
Jul‐99<br />
Nov‐99<br />
Mar‐00<br />
Jul‐00<br />
Nov‐00<br />
Mar‐01<br />
Jul‐01<br />
Nov‐01<br />
Mar‐02<br />
Jul‐02<br />
Nov‐02<br />
Mar‐03<br />
Jul‐03<br />
Nov‐03<br />
Mar‐04<br />
Jul‐04<br />
Nov‐04<br />
Mar‐05<br />
Jul‐05<br />
Nov‐05<br />
Mar‐06<br />
Jul‐06<br />
Nov‐06<br />
Mar‐07<br />
Jul‐07<br />
Nov‐07<br />
Mar‐08<br />
Jul‐08<br />
Nov‐08<br />
Ricardo J. Caballero<br />
Page 20<br />
14.10<br />
13.85<br />
13.60
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