. This empirical prediction is tested on data about recommendations on IPOs. The main result is that analysts working for the … outsiders recommendations. Finally, outsiders are not influenced by recommendations previously issued by insiders. These results …

management software “A-Trade” was part of the shift from a traditional engineer-led culture of risk cognition to market …

independent than Central Banks are on their monetary task; (v) thesupervisory agency cannot rely on high powered incentives to …

) matched to bank-level panel data for the US, Canada and 27 European countries. Ourdataset covers almost 7,000 banks (including … operating costs and is greater for smaller firmsthan larger firms. Although the long-run effects are similar, US and UK banks …

The objective of this paper is to propose a model to assess risk for banks. Its main innovation is to incorporate … endogenous interaction between banks, recognising that the actual risk to which an individual bank is exposed also depends on its … interaction with other banks and other private sector agents. To this end, we develop a two-period general equilibrium model with …

calibrated against UK data. The model comprises a household sector, three active heterogeneous banks, a central bank … in our model, i.e. banks’ probabilities of default and banks’ profits - to a proxy of welfare. …