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Markets, Reserves and Lenders of Last Resort as Sources of Bank Liquidity
Herrala, Risto - Suomen Pankki - 2000
firms that are facing solvency shocks. We apply their framework to banking and extend the framework to admit the analysis of …
Persistent link: https://www.econbiz.de/10005419679
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Financial subsidies and bank lending: substitutes or complements? Micro level evidence from Italy
Carmignani, Amanda; D'Ignazio, Alessio - Banca d'Italia - 2011
public financing to firms via the banking system. The effect of public incentives depends on the availability of financial …
Persistent link: https://www.econbiz.de/10009020148
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Bankers' compensation: Sprint swimming in short bonus pools?
Jokivuolle, Esa; Keppo, Jussi - Suomen Pankki - 2014
The global financial crisis of 2007–2008 has given rise to new regulatory initiatives to put restrictions on the size and the term of bankers' pay. We revisit both theoretically and empirically the question of whether these regulations are justified. We model bonuses as a series of sequential...
Persistent link: https://www.econbiz.de/10010734434
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Should competition policy in banking be amended during crises? Lessons from the EU
Hasan, Iftekhar; Marinc, Matej - Suomen Pankki - 2013
This article investigates the nexus of competition and stability in European banking. It analyzes the European legal … framework for competition policy in banking and several cases that pertain to anti-cartel policy, merger policy, and state …-aid control. It discusses whether and how competition policy should be amended in order to preserve the stability of the banking …
Persistent link: https://www.econbiz.de/10010818987
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The causal effect of credit guarantees for SMEs: evidence from Italy
D'Ignazio, Alessio; Menon, Carlo - Banca d'Italia - 2013
We evaluate the effectiveness of a partial credit guarantee program implemented in a large Italian region using unique microdata from a broad set of firms. Our results show that the policy was effective to the extent that it resulted in an improved financial condition for the beneficiary firms....
Persistent link: https://www.econbiz.de/10011099641
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Credit access for female firms: evidence from a survey on European SMEs
Stefani, Maria Lucia; Vacca, Valerio - Banca d'Italia - 2013
This paper uses ECB survey data to assess whether gender matters in the small firms� financial structure and access to credit. Firms owned or managed by women (female firms) use smaller amounts and less heterogeneous sources of external finance than their male counterparts. According to...
Persistent link: https://www.econbiz.de/10011100359
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Women on Italian bank boards: are they �gold dust�?
Prete, Silvia Del; Stefani, Maria Lucia - Banca d'Italia - 2013
is greater a) in banks belonging to the major banking groups, with larger and younger boards; and b) in banks that are …
Persistent link: https://www.econbiz.de/10011100416
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The Microeconomics of Innovation: Oligopoly Theoretic Analyses with Applications to Banking and Patenting
Kauko, Karlo - Suomen Pankki - 2000
The innovation activities of companies has long been a topic of interest in economics. Game theory models of oligopoly have since the start of the 1980s played a central role in the economics of innovation. In this study three game theory duopoly models are presented and each is used to analyse...
Persistent link: https://www.econbiz.de/10008774218
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Moral hazard in the credit market when the collateral value is stochastic
Niinimäki, Juha-Pekka - Suomen Pankki - 2010
This theoretical paper explores the effects of costly and non-costly collateral on moral hazard, when collateral value may fluctuate. Given that all collateral is costly, stochastic collateral will entail the same positive incentive effects as nonstochastic collateral, provided the variation in...
Persistent link: https://www.econbiz.de/10008800750
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Essays on the limits of borrowing
Herrala, Risto - Suomen Pankki - 2012
The aim of this research is to provide new insights about the limits of borrowing. The second chapter contributes to the theory of limits of borrowing by a study of LOLRs in an original model. The third chapter introduces a new approach to test and measure the limits of borrowing...
Persistent link: https://www.econbiz.de/10010611650