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Walras and dividends equilibrium with possibly satiated consumers
Allouch, Nizar; Van, Cuong Le - HAL - 2008
, we show the concept of equilibrium with dividends (See Aumann and Dreze (1986), Mas-Collel (1992)) is pertinent only when … from the fact that in decentralized markets, increasing the incomes of consumers through dividends, if it is possible, is …
Persistent link: https://www.econbiz.de/10010750794
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CAPITAL REQUIREMENTS FOR OPERATIONAL RISK: AN INCENTIVE APPROACH
Belhaj, Mohamed - HAL - 2010
This paper proposes a simple continuous time model to analyze capital charges for operational risk. We find that undercapitalized banks have less incentives to reduce their operational risk exposure. We view operational risk charge as a tool to reduce the moral hazard problem. Our results show,...
Persistent link: https://www.econbiz.de/10008794062