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Hattori, Masazumi; Shin, Hyun Song - Institute for Monetary and Economic Studies, Bank of Japan - 2007

Yen carry trades have traditionally been viewed in narrow terms purely as a foreign exchange transaction. However, evidence from the waxing and waning of balance sheets of foreign banks operating in Japan points to a broader notion of the carry trade. Yen liabilities fund not only pure currency...

Persistent link: https://www.econbiz.de/10004975764

Securitization, Transparency and Liquidity

Pagano, Marco; Volpin, Paolo - Centro Studi di Economia e Finanza (CSEF) - 2008

We present a model in which issuers of asset backed securities choose to release coarse information to enhance the liquidity of their primary market, at the cost of reducing secondary market liquidity or even causing it to freeze. The degree of transparency is inefficiently low if the social...

Persistent link: https://www.econbiz.de/10005087538

Good Securitization, Bad Securitization

Plantin, Guillaume - Institute for Monetary and Economic Studies, Bank of Japan - 2011

I use a simple banking model to study the circumstances under which excessive and inefficient securitization may occur …. I first stress that increasing securitization rates that reduce banks' incentives to screen borrowers and thus lead to … the informational efficiency of the securitization market, then there is room for excessive securitization. The model …

Persistent link: https://www.econbiz.de/10008837594

Credit Ratings Failures and Policy Options

Pagano, Marco; Volpin, Paolo - Centro Studi di Economia e Finanza (CSEF) - 2009

This paper examines the role of credit rating agencies in the subprime crisis that triggered the 2007-08 financial turmoil. We focus on two aspects of ratings that contributed to the boom and bust of the market for structured debt: rating inflation and coarse information disclosure. The paper...

Persistent link: https://www.econbiz.de/10008561014

Risk in Financial Conglomerates: Management and Supervision

Lelyveld, Iman van; Schilder, Arnold - de Nederlandsche Bank - 2002

, globalization, and deregulation creating new challenges for both the group's management as well as for regulators. We discuss the … emerges from the theory on risk management, both from a market and a firm perspective. After describing the Dutch …

Persistent link: https://www.econbiz.de/10005021889

Efficiency and Cost Differences across Countries in a Unified EuropeanBanking Market

Bikker, J.A. - de Nederlandsche Bank - 2003

This paper seeks to discover the level and spread of bank efficiency in the EU, which in the light of the current and expected increase in competition in Europe is of vital importance for welfare- related public policy toward market structure and conduct. In particular, this study focuses on...

Persistent link: https://www.econbiz.de/10005021892

Preferential regulatory treatment and banks' demand for government bonds

Bonner, Clemens - de Nederlandsche Bank - 2014

Government bonds receive preferential treatment in financial regulation. The purpose of this paper is to analyze the impact of this preferential treatment on banks' demand for government bonds. Using unique transaction-level data, our analysis suggests that preferential treatment in liquidity...

Persistent link: https://www.econbiz.de/10010812608

When does the general public lose trust in banks?

Jansen, David-Jan; Mosch, Robert; Cruijsen, Carin van der - de Nederlandsche Bank - 2013

When does the general public lose trust in banks? We provide empirical evidence using responses by Dutch survey participants to eight hypothetical scenarios. We find that members of the general public care strongly about executive compensation. Negative media reports, falling stock prices, and...

Persistent link: https://www.econbiz.de/10010726974

Banks and Innovation: Microeconometric Evidence on Italian Firms

Benfratello, Luigi; Schiantarelli, Fabio; Sembenelli, … - Institute for the Study of Labor (IZA) - 2006

In this paper we investigate the effect of local banking development on firms’ innovative activities, using a rich data set on innovation for a large number of Italian firms over the 1990’s. There is evidence that banking development affects the probability of process innovation,...

Persistent link: https://www.econbiz.de/10005822124

Simulations in the Dutch interbank payment system: A sensitivity analysis

Heijmans, Ronald - de Nederlandsche Bank - 2009

This paper presents an analysis on the sensitivity of the Dutch interbank payment system with respect to the value transferred and the amount of available collateral. The Dutch system can be characterised as a system with a few large and many relatively small participants.Historical data has...

Persistent link: https://www.econbiz.de/10005101806