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When Arm's Length Is Too Far. Relationship Banking over the Business Cycle
Beck, Thorsten; Degryse, Hans; Haas, Ralph de; Horen, … - CESifo - 2014
Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms’ credit constraints at two...
Persistent link: https://www.econbiz.de/10010795340
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Spillovers from Systemic Bank Defaults
Mink, Mark; Haan, Jakob de - CESifo - 2014
We examine to what extent banks’ stock market values during the 2007-2012 financial crisis were driven by increases in …
Persistent link: https://www.econbiz.de/10010877758
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The Great Mortgaging: Housing Finance, Crises, and Business Cycles
Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - CESifo - 2014
This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the course of the 20th century, driven by a sharp rise of...
Persistent link: https://www.econbiz.de/10010948836
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Credit Market Competition and Liquidity Crises
Carletti, Elena; Leonello, Agnese - CESifo - 2014
We develop a model where banks invest in reserves and loans, and face aggregate liquidity shocks. Banks with liquidity shortage sell loans on the interbank market. Two equilibria emerge. In the no default equilibrium, all banks hold enough reserves and remain solvent. In the mixed equilibrium,...
Persistent link: https://www.econbiz.de/10010743450
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Banking Crisis Resolution Policy - Lessons from Recent Experience - which elements are needed for robust and efficient crisis resolution?
Mayes, David G. - CESifo - 2009
The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international … practice”. But some of these lessons have proved hard to implement during the current crisis, and new policies have been …
Persistent link: https://www.econbiz.de/10008583712
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I Spy with my Little Eye... a Banking Crisis - Early Warnings and Incentive Schemes in Banks
Hakenes, Hendrik; Schlegel, Friederike - CESifo - 2014
The severity and depth of the recent financial crisis hit many by surprise. Despite warning signs, the financial system … bank manager monitoring the bank’s loan portfolio. The manager must be incentivized to warn the board before a crisis … conditions deteriorate when lenders notice an upcoming crisis. We discuss policies to improve information efficiency and give …
Persistent link: https://www.econbiz.de/10011103403
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Contagion in Financial Networks: A Threat Index
Demange, Gabrielle - CESifo - 2015
Interbank claims are a concern to regulators as they might facilitate the dissemination of defaults and generate spill-over effects. Building on a simple model, this paper introduces a measure of the spill-over effects that a bank generates when it defaults. The measure is based on an explicit...
Persistent link: https://www.econbiz.de/10011257674
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Entrepreneurship, Economic Conditions, and the Great Recession
Fairlie, Robert W. - CESifo - 2013
opportunities in the wage/salary sector leaving the net effect on entrepreneurship ambiguous. The most up-to-date microdata … entrepreneurship at the individual level to shed light on this question. Regression estimates indicate that local labor market … conditions are a major determinant of entrepreneurship. Higher local unemployment rates are found to increase the probability …
Persistent link: https://www.econbiz.de/10010877680
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Homeownership and Entrepreneurship: The Role of Mortgage Debt and Commitment
Bracke, Philippe; Hilber, Christian; Silva, Olmo - CESifo - 2014
We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and … homeowners start a business; and (ii) the negative relation between mortgage debt and entrepreneurship is more pronounced when … income volatility is higher. Our model further predicts that the relation between housing wealth and entrepreneurship is …
Persistent link: https://www.econbiz.de/10010948829
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Behind the GATE Experiment: Evidence on Effects of and Rationales for Subsidized Entrepreneurship Training
Fairlie, Robert W.; Karlan, Dean; Zinman, Jonathan - CESifo - 2014
Theories of market failures and targeting motivate the promotion of entrepreneurship training programs and generate …
Persistent link: https://www.econbiz.de/10010948873