This paper analyzes a two-country model of currency, banks and endogenous default to study whether impediments to … impediments induce a higher cost for banks to manage cross-border credit compared to domestic credit, welfare may not be maximal …

credit market integration are captured by variations in the cost for banks to grant credit for cross-border purchases. We …

We test the hypothesis of Pareto optimal risk-sharing in a transition economy using a new dataset on a representative … insurance and credit markets, we fail to reject the hypothesis of full insurance of total non-durable consumption and its … components. Survey responses indicate that the main channels of consumption smoothing are self-insurance (for adverse weather …

This paper presents a model of the portfolio and financing adjustments of U.S. banks over the business cycle. At the … the financing of the portfolio. The model predicts that portfolio adjustments are made to conform to the risk aversion of … shareholders and financing adjustments are made to offset changes in portfolio risk. Regression evidence for 1955-2000 fails to …

estimates of any log-log model coefficients, as lond as banks panel data is used and fixed effects are included in the estimated …

estimates of any log-log model coefficients, as lond as banks panel data is used and fixed effects are included in the estimated …