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Bank Failure, Relationship Lending, and Local Economic Performance
Kandrac, John - Federal Reserve Board (Board of Governors of the … - 2014
Whether bank failures have adverse effects on local economies is an important question for which there is conflicting and relatively scarce evidence. In this study, I use county-level data to examine the effect of bank failures and resolutions on local economies. Using quasi-experimental...
Persistent link: https://www.econbiz.de/10010784180
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Sovereign Debt Crises
Correa, Ricardo; Sapriza, Horacio - Federal Reserve Board (Board of Governors of the … - 2014
Sovereign debt crises have been recurrent events over the past two centuries. In recent years, the timing of sovereign crises has coincided or has directly followed banking crises. The link between sovereigns and banks tightened as the contingent liability that the banking sector represents for...
Persistent link: https://www.econbiz.de/10010784199
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Bank Liquidity and Capital Regulation in General Equilibrium
Covas, Francisco; Driscoll, John C. - Federal Reserve Board (Board of Governors of the … - 2014
We develop a nonlinear dynamic general equilibrium model with a banking sector and use it to study the macroeconomic impact of introducing a minimum liquidity standard for banks on top of existing capital adequacy requirements. The model generates a distribution of bank sizes arising from...
Persistent link: https://www.econbiz.de/10011075119
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Securitization with recourse: an instrument that offers uninsured bank depositors sequential claims
Benveniste, Lawrence M.; Berger, Allen N. - Federal Reserve Board (Board of Governors of the … - 1987
Persistent link: https://www.econbiz.de/10005361181
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How consistent are credit ratings? a geographic and sectoral analysis of default risk
Ammer, John; Packer, Frank - Federal Reserve Board (Board of Governors of the … - 2000
We examine differences in default rates by sector and obligor domicile. We find evidence that credit ratings have been imperfectly calibrated across issuer sectors in the past. Controlling for year of issue and rating, default rates appear to be higher for U.S. financial firms than for U.S....
Persistent link: https://www.econbiz.de/10005368242
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On risk, rational expectations, and efficient asset markets
Stevens, Guy V.G.; Akbarian, Dara - Federal Reserve Board (Board of Governors of the … - 1994
portfolio size and degree of risk aversion of potential investors, the ability to borrow, and the hedging opportunities provided …
Persistent link: https://www.econbiz.de/10005368265
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Pitfalls in tests for changes in correlations
Boyer, Brian H.; Gibson, Michael S.; Loretan, Mico - Federal Reserve Board (Board of Governors of the … - 1997
"correlation breakdown." As a result, risk managers worry that their hedges will be useless when they are most needed, namely …. We make this point analytically, by way of several numerical examples, and via an empirical illustration. ; But, risk …
Persistent link: https://www.econbiz.de/10005368286
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Information systems for risk management
Gibson, Michael S. - Federal Reserve Board (Board of Governors of the … - 1997
Risk management information systems are designed to overcome the problem of aggregating data across diverse trading … units. The design of an information system depends on the risk measurement methodology that a firm chooses. Inherent in the … design of both a risk management information system and a risk measurement methodology is a tradeoff between the accuracy of …
Persistent link: https://www.econbiz.de/10005368299
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Exchange rate variability and the level of international trade
Gagnon, Joseph E. - Federal Reserve Board (Board of Governors of the … - 1989
There have been numerous theoretical and empirical studies of the effect of exchange rate variability on the level of international trade. Most theoretical studies have concluded that under reasonable assumptions exchange rate variability ought to depress the level of trade. Empirical studies...
Persistent link: https://www.econbiz.de/10005368341
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A guide to choosing absolute bank capital requirements
Carey, Mark - Federal Reserve Board (Board of Governors of the … - 2002
as the basis for estimates of the appropriate absolute level of economic capital allocations for portfolio credit risk …
Persistent link: https://www.econbiz.de/10005368373