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Long-term debt and hidden borrowing
Bar-Isaac, Heski; Cuñat, Alejandro - London School of Economics (LSE) - 2005
We consider borrowers with the opportunity to raise funds from a competitive banking sector that shares information, and from an alternative hidden lender. The presence of the hidden lender restricts the contracts that can be obtained from the banking sector. In equilibrium some borrowers obtain...
Persistent link: https://www.econbiz.de/10011071410
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Access to finance: a functional approach to supply and demand
Fischer, Gregory - London School of Economics (LSE) - 2011
This paper provides a comprehensive description of the financial environment for households and small businesses in a defined geographical region. It develops a new, functional approach to financial access surveys, which involves asking detailed questions about how respondents meet their...
Persistent link: https://www.econbiz.de/10011071530
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Are there any Animal Spirits behind the Scenes of the Euro area Sovereign Debt Crisis?
Mamatzakis, Emmanuel - London School of Economics (LSE) - 2013
This paper reveals the underlying market’s preferences over the on going Euro area sovereign debt crisis. It builds on a loss function with reference to the ‘basis’, the difference between the spread over swap and Credit Default Swap (CDS) for sovereign bonds. This loss function is general...
Persistent link: https://www.econbiz.de/10010686658
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The role of bank capital and the transmission mechanism of monetary policy
Sunirand, Pojanart - London School of Economics (LSE) - 2002
This paper is a theoretical study of the transmission mechanism of monetary policy in the presence of an endogenous role of bank capital. The basic framework is a standard Dynamic New Keynesian model with price stickiness modified so as firms as well as banks face endogenous financial frictions...
Persistent link: https://www.econbiz.de/10010884669
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Cyclical adjustment of capital requirements: a simple framework
Repullo, Rafael - London School of Economics (LSE) - 2013
We present a model of an economy with heterogeneous banks that may be funded with uninsured deposits and equity capital. Capital serves to ameliorate a moral hazard problem in the choice of risk. There is a fixed aggregate supply of bank capital, so the cost of capital is endogenous. A regulator...
Persistent link: https://www.econbiz.de/10011171760
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Banking stability measures
Segoviano, Miguel A.; Goodhart, Charles - London School of Economics (LSE) - 2009
The recent crisis underlined that proper estimation of distress-dependence amongst banks in a global system is essential for financial stability assessment. We present a set of banking stability measures embedding banks’ linear (correlation) and nonlinear distress-dependence, and their changes...
Persistent link: https://www.econbiz.de/10010744840
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Political credit cycles: the case of the Euro zone
Fernández-Villaverde, Jesús; Garicano, Luis; Santos, … - London School of Economics (LSE) - 2013
We study the mechanisms through which the adoption of the Euro delayed, rather than advanced, economic reforms in the Euro zone periphery and led to the deterioration of important institutions in these countries. We show that the abandonment of the reform process and the institutional...
Persistent link: https://www.econbiz.de/10011126656
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Modernisation and son preference
Burgess, Robin; Zhuang, Juzhong - London School of Economics (LSE) - 2000
analysis is used to try and uncover the factors which may be driving the emergence of the gender gaps. Drawing on household … in intra-household allocation. Spending on health is found to be biased against young girls in the poor but not in the … household spending were found to correspond to gender biases in mortality and enrolment outcomes as revealed in census data for …
Persistent link: https://www.econbiz.de/10010928624
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Happiness in transition: the case of Kyrgyzstan
Namazie, Ceema; Sanfey, Peter - London School of Economics (LSE) - 1998
We analyse self-reported measures of satisfaction with life in a transition country, Kyrgyzstan, using 1993 household …
Persistent link: https://www.econbiz.de/10010744878
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The impact of inheritance on the distribution of wealth: evidence from the UK
Karagiannaki, Eleni - London School of Economics (LSE) - 2011
inequality. Using data from the British Household Panel Survey we find that the period 1995-2005 was a period of substantial … household wealth accumulation that occurred during 1995-2005 and somewhere between 26 and 30 per cent of the wealth accumulation …
Persistent link: https://www.econbiz.de/10010745804