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Does it pay to have friends? Social ties and executive appointments in banking
Berger, Allen N.; Kick, Thomas; Koetter, Michael; … - Deutsche Bundesbank - 2011
Social capital theory predicts individuals establish social ties based on homophily, i.e., affinities for similar others. We exploit a unique sample to analyze how similarities and social ties affect career outcomes in banking based on age, education, gender, and employment history to examine if...
Persistent link: https://www.econbiz.de/10010954916
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Money market derivatives and the allocation of liquidity risk in the banking sector
Hakenes, Hendrik; Fecht, Falko - Deutsche Bundesbank - 2006
Money markets have two functions, the allocation of liquidity and the processing of information. We develop a model … that due to its size, a large bank receives a more precise signal about the overall liquidity development in the banking … sector. In an upcoming liquidity shortage this large bank can exploit its informational advantage in the spot money market by …
Persistent link: https://www.econbiz.de/10005082808
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Rollover risk in commercial paper markets and firms' debt maturity choice
Thierfelder, Felix - Deutsche Bundesbank - 2008
should market liquidity dry up. In a first step, this paper explains why high quality firms introduce a maturity mismatch …
Persistent link: https://www.econbiz.de/10005058998
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Monetary policy and bank distress: an integrated micro-macro approach
De Graeve, Ferre; Kick, Thomas - Deutsche Bundesbank - 2008
Evidence on the interdependency between monetary policy and the state of the banking system is scarce. We suggest an integrated micro-macro approach with two core virtues. First, we measure the probability of bank distress directly at the bank level. Second, we integrate a microeconomic hazard...
Persistent link: https://www.econbiz.de/10005082796