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Credit Constraints, Competition, and Meritocracy

Caselli, Francesco; Gennaioli, Nicola - London School of Economics and Political Science - 2004

credit market imperfections that arise as a consequence ofagency problems in the borrower-lender relationship. Our model … the credit market imperfections — an increase in the wage brings about greatermeritocracy. Specifically, a higher wage …

Persistent link: https://www.econbiz.de/10009305079

Portfolio Credit Risk

Wilson, Thomas C. - McKinsey and Company <New York, NY>; London School of … - 1998

distribution arising from correlated credit eventsfor any arbitrary portfolio of counterparty exposures, downto the individual … and credit migrations.1 Theimportance of tabulating the exact loss distribution ishighlighted by the fact that … that managementfaces a distribution of potential losses rather than asingle potential loss. In order to define credit risk …

Persistent link: https://www.econbiz.de/10005870073

Opinion on bank rate, 1822 - 60

Cramp, A. B. - 1962

Persistent link: https://www.econbiz.de/10001464685

Bank Capital Requirements for Market Risk: The Internal Models Approach

Hendricks, Darryll; Hirtle, Beverly - Federal Reserve Bank <New York, NY>; London School of … - 1997

[...]This paper presents an overview of the new capitalrequirements. In the first section, we describe the structureof the requirements and the considerations that went intotheir design. In addition, we address some of the concernsthat have been raised about the methods of calculating...

Persistent link: https://www.econbiz.de/10005870218

Is There an Inflation Puzzle?

Lown, Cara S.; Rich, Robert W. - Federal Reserve Bank <New York, NY>; London School of … - 1997

[...]This article explores the inflation puzzle andinvestigates whether compensation has acted as either atemporary restraint on inflation or as the underlying sourceof a new inflation regime.2 After reviewing the recent behavior of inflation, we specify and estimate a traditionalprice-inflation...

Persistent link: https://www.econbiz.de/10005870223

Evaluation of Value-at-Risk Models Using Historical Data

Hendricks, Darryll - Federal Reserve Bank <New York, NY>; London School of … - 1996

[...]We begin by explaining the three most commoncategories of value-at-risk models—equally weighted movingaverage approaches, exponentially weighted movingaverage approaches, and historical simulation approaches.Although within these three categories many differentapproaches exist, for the...

Persistent link: https://www.econbiz.de/10005870342

Trade and the Skill Premium Puzzle with Capital Market Imperfections

Bonfatti, Roberto; Ghatak, Maitreesh - University <Oxford> / Department of Economics; London … - 2010

An interesting puzzle is that trade liberalization in the 1980s and 1990s has been associated with a sharp increase in the skill premium in both developed and developing countries.This is in contrast with neoclassical theory, according to which trade should increase therelative return of the...

Persistent link: https://www.econbiz.de/10008860714

Consumption and real exchange rates with incomplete markets and non-traded goods

Benigno, Gianluca; Thoenissen, Christoph - London School of Economics and Political Science - 2008

This paper addresses the consumption–real exchange rate anomaly.International real business cycle models based on complete financialmarkets predict a unitary correlation between the realexchange rate and the ratio of home to foreign consumptionwhen subjected to supply-side shocks. In the data,...

Persistent link: https://www.econbiz.de/10009138476

Rural labor and credit markets

Caselli, Francesco - London School of Economics and Political Science - 1996

in the fraction ofrural workers who are tied. In addition, if consumption-credit markets are operating, a fallin the size …

Persistent link: https://www.econbiz.de/10009305096

Financial Consolidationand Monetary Policy

English, William - United States / Reserve Board; London School of …

The 1990s were characterized by substantial financial sectorconsolidation across a large number of industrializedcountries...

Persistent link: https://www.econbiz.de/10005869393