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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

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

Delivery Networks and Pricing Behaviour in Banking: An Empirical Investigation Using Finnish Data

Vesala, Jukka - Suomen Pankki - 1998

with predictions concerning the technological transformation of services' delivery in banking. Differentiation is found to …

Persistent link: https://www.econbiz.de/10005648908

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

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

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

Bonus caps, deferrals and bankers' risk-taking

Jokivuolle, Esa; Keppo, Jussi; Yuan, Xuchuan - Suomen Pankki - 2015

the model to US banking data and show that lengthening the standard one-year bonus payment interval has no material impact …

Persistent link: https://www.econbiz.de/10011207862