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Government Guarantees and Bank Risk Taking Incentives
Fischer, Markus; Hainz, Christa; Rocholl, Jörg; … - CESifo - 2014
This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of guarantees for German Landesbanken which results in lower credit ratings, higher funding costs, and a loss in franchise value. This removal was announced in 2001, but...
Persistent link: https://www.econbiz.de/10010752789
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Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany
Buch, Claudia M.; Prieto, Esteban - CESifo - 2012
reform. But how do increased capital requirements affect business loans? While there is widespread belief that the real costs … of increased bank capital in terms of reduced loans could be substantial, there are good reasons to believe that the … between the capitalization of the banking sector and bank loans using panel cointegration models. We study the evolution of …
Persistent link: https://www.econbiz.de/10010552440
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Productivity Response to a Contract Change
Jayaraman, Rajshri; Ray, Debraj; Véricourt, Francis de - CESifo - 2014
, implemented at the end of a three-year cycle in which contracts are generally revised, was (a) the joint outcome of negotiations …
Persistent link: https://www.econbiz.de/10010877659
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Innovation in the Supply and Procurement of Rig Services
Osmundsen, Petter - CESifo - 2014
contracts and organisation. This trend has been driven by the fact that rising costs over many years have put profitability …
Persistent link: https://www.econbiz.de/10010948889
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Conservation Contracts and Political Regimes
Harstad, Bård; Mideksa, Torben - CESifo - 2015
Motivated by tropical deforestation, we analyze (i) a novel theory of resource extraction, (ii) the optimal conservation contract, (iii) when the donor prefers contracting with central rather than local governments, and (iv) how the donor’s presence may induce institutional change....
Persistent link: https://www.econbiz.de/10011273091
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Is Marriage as Good as a Contract?
Cigno, Alessandro - CESifo - 2013
Neither marriage nor a legally enforceable contract serves any useful purpose if the parties have access to a perfect credit market. In the presence of credit rationing, efficiency and utility equalization are guaranteed only by a legally enforceable contract. Separate-property marriage may...
Persistent link: https://www.econbiz.de/10010732344
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Optimal Incentive Contracts For a Worker Who Envies His Boss
Dur, Robert; Glazer, Amihai - CESifo - 2004
his employer. This paper uses a principal-agent model to study optimal incentive contracts for envious workers under …
Persistent link: https://www.econbiz.de/10005765867
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Theories of Fairness and Reciprocity – Evidence and Economic Applications
Fehr, Ernst; Schmidt, Klaus - CESifo - 2000
Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests...
Persistent link: https://www.econbiz.de/10005094414
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Major Provisions of Labour Contracts and their Theoretical Coherence
Christofides, Louis; Peng, Chen - CESifo - 2006
within and across contracts. The elasticity of indexation is modelled as a latent variable, supporting consideration of both … variables and the sequence of contracts signed by a bargaining pair are needed. …
Persistent link: https://www.econbiz.de/10005094416
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Psychological Foundations of Incentives
Fehr, Ernst; Falk, Armin - CESifo - 2002
During the last two decades economists have made much progress in understanding incentives, contracts and organisations …
Persistent link: https://www.econbiz.de/10005051546