Narrow search
Showing 1 - 10 of 107
Cover Image
Recovery rates, default probabilities and the credit cycle
Bruche, Max; Gonzalez-Aguado, Carlos - London School of Economics (LSE) - 2006
a model in which this dependence is the result of an unobserved credit cycle: When times are bad, the default … ignoring the dynamic nature of credit risk could lead to a severe underestimation of credit risk (e.g. by a factor of up to 1 ….7 in terms of the 95% VaR). Also, the model indicates that the credit cycle is related to but distinct from the business …
Persistent link: https://www.econbiz.de/10010746498
Cover Image
The variable impact of the global economic crisis in South East Europe
Bartlett, Will; Prica, Ivana - London School of Economics (LSE) - 2012
crisis to the region are identified as contractions of credit, foreign direct investment, remittances, and exports, and their …
Persistent link: https://www.econbiz.de/10010884718
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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 (payment delinquencies). The innovations include the treatment of difficult to observe variations in loan quality and shifts in forbearance policy by lenders, by common latent...
Persistent link: https://www.econbiz.de/10011126430
Cover Image
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
Cover Image
Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - London School of Economics (LSE) - 2013
Mortgage loans are a striking example of a persistent nominal rigidity. As a result, under incomplete markets, monetary policy affects decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. Observed debt levels and payment to income ratios suggest the...
Persistent link: https://www.econbiz.de/10011126379