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Do asset regulations impede portfolio diversification? evidence from European life insurance funds

Bijapur, Mohan; Croci, Manuela; Zaidi, Rida - London School of Economics (LSE) - 2012

We investigate the effects of regulatory restrictions on the amounts invested in risky asset classes in life insurance funds across EU countries. By estimating a panel data econometric model, we find that these restrictions have an economically and statistically significant negative impact on...

Persistent link: https://www.econbiz.de/10011126157

A social constructivist analysis of the 2007 banking crisis: building trust and transparency through community currencies

Breitstein, Lance; Dini, Paolo - London School of Economics (LSE) - 2011

This article examines the 2007 banking crisis from an interdisciplinary and, in particular, social constructivist perspective to identify its structural and systemic causes. After presenting and explaining a wide meta-theoretical framework that can accommodate different understandings of...

Persistent link: https://www.econbiz.de/10010884691

Recovery rates, default probabilities and the credit cycle

Bruche, Max; Gonzalez-Aguado, Carlos - London School of Economics (LSE) - 2006

Recovery rates are negatively related to default probabilities (Altman et al., 2005). This paper proposes and estimates a model in which this dependence is the result of an unobserved credit cycle: When times are bad, the default probability is high and recovery rates are low; when times are...

Persistent link: https://www.econbiz.de/10010746498

Written evidence given by Professor Alexander Pepper of the London School of Economics and Political Science to the UK Parliamentary Commission on banking standards

Pepper, Alexander - London School of Economics (LSE) - 2013

My contention is that many of the current problems with 'Bankers’ Pay' have their origins in the dismantling of the formal and informal institutions which regulated the labour markets in the financial centres in London and New York prior to 1986-1987.

Persistent link: https://www.econbiz.de/10010746618

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

Regulating financial market infrastructures

Ferrarini, Guido; Saguato, Paolo - London School of Economics (LSE) - 2014

This paper focuses on the impact of financial market infrastructures (FMIs) and of their regulation on the post-crisis transformation of securities and derivatives markets. It examines, in particular, the role that trading and post-trading FMIs, and their new regulatory regime, are playing in...

Persistent link: https://www.econbiz.de/10011125895

The end of bank secrecy? An evaluation of the G20 tax haven crackdown

Johannesen, Niels; Zucman, Gabriel - London School of Economics (LSE) - 2014

During the financial crisis, G20 countries compelled tax havens to sign bilateral treaties providing for exchange of bank information. Policymakers have celebrated this global initiative as the end of bank secrecy. Exploiting a unique panel dataset, our study is the first attempt to assess how...

Persistent link: https://www.econbiz.de/10011126343

Modelling and forecasting UK mortgage arrears and possessions

Aron, Janine; Muellbauer, John - London School of Economics (LSE) - 2010

This paper presents new models for aggregate UK data on mortgage possessions (foreclosures) and mortgage arrears … scenarios for forecasts to 2013 reveals the sensitivity of mortgage possessions and arrears to different economic conditions …, highlighting potential risks faced by the UK and its mortgage lenders. A comprehensive review of data on arrears and possessions …

Persistent link: https://www.econbiz.de/10011126430

Agglomeration economies and the location of foreign direct investment: quasi-experimental evidence from Romania

Hilber, Christian A. L.; Voicu, Ioan - London School of Economics (LSE) - 2006

How important are agglomeration economies for the location of foreign manufacturing plants? We investigate this question by combining innovations from previous studies and by taking advantage of a quasi-experimental setting: the political and economic transition in Romania. The recent, sudden...

Persistent link: https://www.econbiz.de/10010928634

Endowments, market potential, and industrial location: evidence from interwar Poland (1918-1939)

Wolf, Nikolaus - London School of Economics (LSE) - 2004

The paper explores the determinants of industry location across interwar Poland. After more than 120 years of political and economic separation, Poland was reunified at the end of 1918. In consequence, its industry faced massive structural changes: the removal of internal tariff barriers and...

Persistent link: https://www.econbiz.de/10010744846

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