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Insolvency After the 2005 Bankruptcy Reform

Albanesi, Stefania; Nosal, Jaromir - C.E.P.R. Discussion Papers - 2015

Using a comprehensive panel data set on U.S. households, we study the effects of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), the most substantive reform of personal bankruptcy in the United States since the Bankruptcy Reform Act of 1978. The 2005 legislation...

Persistent link: https://www.econbiz.de/10011252618

Financial Education and Access to Savings Accounts: Complements or Substitutes? Evidence from Ugandan Youth Clubs

Jamison, Julian C.; Karlan, Dean S.; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2014

Evidence on the effectiveness of financial education and formal savings account access is lacking, particularly for youth. We randomly assign 250 youth clubs to receive either financial education, access to a cheap group account, or both. The financial education treatments increase financial...

Persistent link: https://www.econbiz.de/10011084404

Financial Literacy and Savings Account Returns

Deuflhard, Florian; Georgarakos, Dimitris; Inderst, Roman - C.E.P.R. Discussion Papers - 2014

Savings accounts are owned by most households, but little is known about the performance of households’ investments. We create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data on account-specific interest rates and...

Persistent link: https://www.econbiz.de/10011083539

Drivers of Structural Change in Cross-Border Banking Since the Global Financial Crisis

Bremus, Franziska; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2014

The paper analyzes the effects of changes to regulatory policy and to monetary policy on cross-border bank lending since the global financial crisis. Cross-border bank lending has decreased, and the home bias in the credit portfolio of banks has risen sharply, especially among banks in the euro...

Persistent link: https://www.econbiz.de/10011145418

When bigger isn’t better: Bail outs and bank behaviour

Li, Han Hao; Miller, Marcus; Zhang, Lei - C.E.P.R. Discussion Papers - 2011

The traditional theory of commercial banking explains maturity transformation and liquidity provision assuming no …

Persistent link: https://www.econbiz.de/10009320408

Regulatory Sanctions and Reputational Damage in Financial Markets

Armour, John; Mayer, Colin; Polo, Andrea - C.E.P.R. Discussion Papers - 2010

We study the impact of the announcement of enforcement of financial and securities regulation by the UK’s Financial …

Persistent link: https://www.econbiz.de/10008682887

Securitization and Compensation in Financial Institutions

Inderst, Roman; Pfeil, Sebastian - C.E.P.R. Discussion Papers - 2010

We analyze the interaction between financial institutions' internal compensation policy, the quality of loans, and their securitization decision. We also assess the case for requiring financial institutions to defer bonus pay so as to make incentives more commensurate with the longer-term risk...

Persistent link: https://www.econbiz.de/10008692310

Bank Capital, Liquid Reserves, and Insolvency Risk

Hugonnier, Julien; Morellec, Erwan - C.E.P.R. Discussion Papers - 2015

We develop a dynamic model to assess the effects of liquidity and leverage requirements on banks' insolvency risk. The model features endogenous capital structure, liquid asset holdings, payout, and default decisions. In the model, banks face taxation, flotation costs of securities, and default...

Persistent link: https://www.econbiz.de/10011165669

A dynamic analysis of bank bailouts and constructive ambiguity

Eijffinger, Sylvester C W; Nijskens, Rob - C.E.P.R. Discussion Papers - 2012

Bailout expectations have led banks to behave imprudently, holding too little capital and relying too much on short term funding to finance long term investments. This paper presents a model to rationalize a constructive ambiguity approach to liquidity assistance as a solution to forbearance....

Persistent link: https://www.econbiz.de/10011083609

How Do Regulators Influence Mortgage Risk? Evidence from an Emerging Market

Campbell, John Y; Ramadorai, Tarun; Ranish, Benjamin - C.E.P.R. Discussion Papers - 2012

To understand the effects of regulation on mortgage risk, it is instructive to track the history of regulatory changes …. However, in developed countries with fairly stable systems of financial regulation, it is difficult to track these effects. We …-changing regulation impacted mortgage lending and risk. We find evidence that regulation has important effects on mortgage rates and …

Persistent link: https://www.econbiz.de/10011083989

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