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Incentive Pay and Bank Risk-Taking:Evidence from Austrian, German, and Swiss Banks

Efing, Matthias; Hau, Harald; Kampkötter, Patrick; … - C.E.P.R. Discussion Papers - 2014

document an economically significant correlation of incentive pay with both the level and volatility of bank trading income …

Persistent link: https://www.econbiz.de/10011083493

The Effects of Focus and Diversification on Bank Risk and Return: Evidence from Individual Bank Loan Portfolios

Acharya, Viral V; Hasan, Iftekhar; Saunders, Anthony - C.E.P.R. Discussion Papers - 2002

We study empirically the effect of focus (specialization) versus diversification on the return and the risk of banks using data from 105 Italian banks over the period 1993–99. Specifically, we analyse the trade-offs between (loan portfolio) focus and diversification using a unique data set...

Persistent link: https://www.econbiz.de/10005136462

Does Interbank Borrowing Reduce Bank Risk?

Dinger, Valeriya; von Hagen, Jürgen - C.E.P.R. Discussion Papers - 2008

In this paper we investigate whether banks that borrow from other banks have lower risk levels. We concentrate on a large sample of Central and Eastern European banks which allows us to explore the impact of interbank lending when exposures are long-term and interbank borrowers are small banks....

Persistent link: https://www.econbiz.de/10005504249

Canada: No Place Like Home for Antidumping

Ludema, Rodney D; Mayda, Anna Maria - C.E.P.R. Discussion Papers - 2011

We analyze temporary trade barriers (TTB) in Canada in 1989-2009. We find that, despite the retreat in TTB stocks in …

Persistent link: https://www.econbiz.de/10009643511

The Exchange Rate - A Shock-Absorber or Source of Shocks? A Study of Four Open Economies

Artis, Michael J; Ehrmann, Michael - C.E.P.R. Discussion Papers - 2000

The paper provides SVAR estimates for four open economies: the UK, Canada, Sweden and Denmark, making explicit a … another: monetary union appears easy to recommend for Sweden and Denmark, much less so for Canada and the UK. …

Persistent link: https://www.econbiz.de/10005789208

Political Risk And Irreversible Investment: Theory And An Application To Quebec

Altug, Sumru G.; Demers, Fanny S; Demers, Michel - C.E.P.R. Discussion Papers - 2000

Political risk is widely present in developing but also in developed countries, and stems from a variety of sources. The objective of this paper is twofold. First, we develop a theoretical model to investigate the impact of political risk on irreversible investment. Second, we apply our model to...

Persistent link: https://www.econbiz.de/10005114366

Institutions, Volatility and Investment

Besley, Timothy J.; Mueller, Hannes Felix - C.E.P.R. Discussion Papers - 2015

Countries with strong executive constraints have lower growth volatility but similar average growth to those with weak … in inflows when strong executive constraints are adopted in terms of the reduction in the volatility in productivity …

Persistent link: https://www.econbiz.de/10011145416

The Fundamental Surplus in Matching Models

Ljungqvist, Lars; Sargent, Thomas J - C.E.P.R. Discussion Papers - 2015

To generate big responses of unemployment to productivity changes, researchers have reconfigured matching models in various ways: by elevating the utility of leisure, by making wages sticky, by assuming alternating-offer wage bargaining, by introducing costly acquisition of credit, or by...

Persistent link: https://www.econbiz.de/10011201357

Carry Trades and Global Foreign Exchange Volatility

Menkhoff, Lukas; Sarno, Lucio; Schmeling, Maik; … - C.E.P.R. Discussion Papers - 2011

We investigate the relation between global foreign exchange (FX) volatility risk and the cross-section of excess … FX volatility and thus deliver low returns in times of unexpected high volatility, when low interest rate currencies … provide a hedge by yielding positive returns. Our proxy for global FX volatility risk captures more than 90% of the cross …

Persistent link: https://www.econbiz.de/10008867494

Leverage as a Predictor for Real Activity and Volatility

Kollmann, Robert; Zeugner, Stefan - C.E.P.R. Discussion Papers - 2011

positively linked to the conditional volatility of future real activity and of equity returns. The joint information in sectoral …

Persistent link: https://www.econbiz.de/10008915810