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Bougheas, Spiros - CESifo - 2012

Traditionally banks have used securitization for expanding credit and thus their profitability. It has been well …-rated tranche. This paper builds a simple model of securitization that accounts for the above retention strategies. Banks in the …

Persistent link: https://www.econbiz.de/10010555214

Shocks to Bank Lending, Risk-Taking, Securitization, and their Role for U.S. Business Cycle Fluctuations

Peersman, Gert; Wagner, Wolf - CESifo - 2014

Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary … type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank … using a model of bank risk-taking and securitization. …

Persistent link: https://www.econbiz.de/10010752434

Securitization of Mortgage Debt, Asset Prices and International Risk Sharing

Hoffmann, Mathias; Nitschka, Thomas - CESifo - 2009

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … mortgage-related risks internationally tradeable, securitization contributes considerably to better international consumption … countries that do not allow for mortgage securitization. Our results are based on quarterly data from a panel of 16 …

Persistent link: https://www.econbiz.de/10005406369

Democracy and Countries with Muslim Majorities: A Reply and Update

Potrafke, Niklas - CESifo - 2012

democratic. Hanusch takes issue with my results – and by inference with all past empirical results on the relation between Islam …. He establishes his conclusion by excluding the heartland of Islam from the estimation sample. For his estimates, Hanusch … in the heartland of Islam. …

Persistent link: https://www.econbiz.de/10010598912

The Female Vote and the Rise of AKP in Turkey

Fidrmuc, Jan; Tunali, Cigdem Börke - CESifo - 2015

Differences between the voting behavior of men and women have become one of the most significant issues in social science research in recent years. In this study, we examine whether there is gender gap in voting behavior in Turkey. Using European Social Survey data, we find that education level...

Persistent link: https://www.econbiz.de/10011194239

Does the John Bates Clark Medal Boost Subsequent Productivity and Citation Success?

Chan, Ho Fai; Frey, Bruno S.; Gallus, Jana; Torgler, Benno - CESifo - 2013

Despite the social importance of awards, they have been largely disregarded by academic research in economics. This paper investigates whether a specific, yet important, award in economics, the John Bates Clark Medal, raises recipients’ subsequent research activity and status compared to a...

Persistent link: https://www.econbiz.de/10010877716

Financial Constraints and Moral Hazard: The Case of Franchising

Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine - CESifo - 2013

Financial constraints are an important impediment to the growth of small businesses. We study theoretically and empirically how the financial constraints of agents affect their decisions to exert effort, and, hence the organizational decisions and growth of principals, in the context of...

Persistent link: https://www.econbiz.de/10010877784