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Lending relationships and credit rationing : the impact of securitization

Degryse, Hans; Carbo Valverde, S.; Rodriguez-Fernandez, F. - Tilburg University, Center for Economic Research - 2011

Do lending relationships mitigate credit rationing? Does securitization influence the impact of lending relationships … securitization activities relaxes credit constraints in normal periods; however, it also increases credit rationing during crisis … periods. Finally, we study the impact of different types of securitization – covered bonds and mortgage-backed securities (MBS …

Persistent link: https://www.econbiz.de/10011092653

Securitization and Lending Standards : Evidence from the Wholesale Loan Market

Kara, A.; Marques-Ibanez, D.; Ongena, S. - Tilburg University, Center for Economic Research - 2011

Persistent link: https://www.econbiz.de/10011090501

Bad Bank(s) and Recapitalization of the Banking Sector

Schäfer, Dorothea; Zimmermann, Klaus F. - Institute for the Study of Labor (IZA) - 2009

, the government would bear responsibility for the management and future resale of toxic assets at its own cost and …

Persistent link: https://www.econbiz.de/10008632733

Venture Capital Investment and Labor Market Performance: New Empirical Evidence for OECD Countries

Belke, Ansgar; Schaal, Andreas - Institute for the Study of Labor (IZA) - 2004

Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role … models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial …

Persistent link: https://www.econbiz.de/10005822244

The Macroeconomics of Labor and Credit Market Imperfections

Wasmer, Etienne; Weil, Philippe - Institute for the Study of Labor (IZA) - 2000

Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections, driven by microeconomic frictions and impacted upon by macroeconomic factors such as monetary policy, could also be to blame. This paper shows that labor and credit market...

Persistent link: https://www.econbiz.de/10005822324

The Wider Economic Impacts of High-Skilled Migrants: A Survey of the Literature

Nathan, Max - Institute for the Study of Labor (IZA) - 2013

In recent years, the economics of migration literature has shown a substantial growth in papers exploring host country impacts beyond the labour market. Specifically, researchers have begun to shift their attention from labour market and fiscal changes, towards exploring what we might call...

Persistent link: https://www.econbiz.de/10010796455

Financial Expertise as an Arms Race

Glode, V.; Green, R.C.; Lowery, R. - Tilburg University, Center for Economic Research - 2010

We propose a model in which firms involved in trading securities overinvest in financial expertise. Intermediaries or traders in the model meet and bargain over a financial asset. As in the bargaining model in Dang (2008), counterparties endogenously decide whether to acquire information, and...

Persistent link: https://www.econbiz.de/10011092698

Economic Hedging Portfolios

Werker, Bas J.M.; van den Goorbergh, R.W.J.; de Roon, F.A. - Tilburg University, Center for Economic Research - 2003

In this paper we study portfolios that investors hold to hedge economic risks.Using a model of state-dependent utility, we show that agents economic hedging portfolios can be obtained by an intuitively appealing, risk aversion-weighted approximate replication of the economic risk variables using...

Persistent link: https://www.econbiz.de/10011091561

Detecting Mortgage Delinquencies

Askitas, Nikos; Zimmermann, Klaus F. - Institute for the Study of Labor (IZA) - 2011

Economic hardship is strongly reflected by the housing market. It is the concern of much research, but its analysis is often obstructed by insufficient lagged data. This paper evaluates search intensity for "hardship letter" from Google Insights to detect ensuing mortgage delinquencies. Such...

Persistent link: https://www.econbiz.de/10009225764

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