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Snellman, Heli; Virén, Matti - Suomen Pankki - 2006

This paper deals with the issue of how the market structure in banking affects the choice of means of payment. In … incentive to restrict the number of ATMs to a minimum. In general, the number of ATMs depends on competitiveness in the banking …

Persistent link: https://www.econbiz.de/10005207157

Screening in the credit market when the collateral value is stochastic

Niinimäki, Juha-Pekka - Suomen Pankki - 2009

This theoretical paper explores screening with loan collateral when both the collateral value and the probability of project success fluctuate. Some model versions challenge the classic findings of Bester (1985) by showing that high-risk borrowers may in such case be more willing to pledge...

Persistent link: https://www.econbiz.de/10005014554

Debt enforcement and the return on money

Rojas-Breu, M. - Banque de France - 2011

The rate-of-return-dominance puzzle asks why low-return assets, like fiat money, are used in actual economies given that risk-free higher-return assets are available. As long as this question remains unresolved, most conclusions from monetary models which arbitrarily restrict the marketability...

Persistent link: https://www.econbiz.de/10009320820

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

Financial Shocks and Optimal Policy

Dellas, H.; Diba, B.; Loisel, O. - Banque de France - 2010

This paper incorporates banks as well as frictions in the market for bank capital into a standard New Keynesian model and considers the positive and normative implications of various financial shocks. It shows that the frictions matter significantly for the effects of the shocks and the...

Persistent link: https://www.econbiz.de/10008503196

Risk-adjusted measures of value creation in financial institutions

Milne, Alistair; Onorato, Mario - Suomen Pankki - 2009

Measuring value creation by comparing the RAROC of an exposure (the return on risk capital) with a single institution-wide hurdle rate is inconsistent with the standard theory of financial valuation. We use asset pricing theory to determine the appropriate hurdle rate for such a RAROC...

Persistent link: https://www.econbiz.de/10008509435

Do markup dynamics reflect fundamentals or changes in conduct?

Juselius, Mikael; Kim, Moshe; Ringbom, Staffan - Suomen Pankki - 2009

related to multiple and changing equilibria. Results from applying the model to US and five major European banking sectors …

Persistent link: https://www.econbiz.de/10004979444

Optimal Capacity in the Banking Sector and Economic Growth.

Amable, B.; Chatelain, J.-B.; De Bandt, O. - Banque de France - 2001

banking system. For that purpose, we consider an overlapping generation model with endogenous growth. There is horizontal … differentiation and imperfect competition in the banking sector. Macroeconomic shocks affect the return on capital and, together with … the expectations of depositors, condition the stability of the banking sector. We specify to what extent deposit insurance …

Persistent link: https://www.econbiz.de/10005036182

Managers and efficiency in banking

Kauko, Karlo - Suomen Pankki - 2007

This paper presents evidence on the impact of managers on cost efficiency in banking. Stochastic frontier analysis is …

Persistent link: https://www.econbiz.de/10005190734

The Finnish Banking Crisis and Its Handling (an update of developments through 1993)

Nyberg, Peter; Vihriälä, Vesa - Suomen Pankki - 1994

gives a brief description of the evolution of the Finnish banking crisis and its handling. In the first section, the salient … features of the Finnish banking system are described. We then briefly discuss the liberalization process, macroeconomic and … banking crisis. The list of references is by no means exhaustive, and it is designed mainly to help foreign readers to find …

Persistent link: https://www.econbiz.de/10005190761