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Contract Structure, Risk Sharing, and Investment Choice

Fischer, Greg - London School of Economics and Political Science - 2010

Few micronance-funded businesses grow beyond subsistence entrepreneur-ship. This paper considers one possible explanation: that the structure ofexisting micronance contracts may discourage risky but high-expected returninvestments. To explore this possibility, I develop a theory that unies...

Persistent link: https://www.econbiz.de/10008845708

Investment Choice and Inflation Uncertainty

Fischer, Greg - London School of Economics and Political Science - 2009

This paper investigates the relationship between inflation uncertainty and the investmentdecisions of small, microfinance-funded firms in the Dominican Republic. An extensive literature documents the array of opposing factors linking inflation uncertainty and investment;ultimately this...

Persistent link: https://www.econbiz.de/10008860680

Risk Heterogeneity and Credit Supply: Evidence from the Mortgage Market

Besley, Timothy; Meads, Neil; Surico, Paolo - London School of Economics and Political Science - 2010

This paper uses a unique data set on more than 600,000 mortgagecontracts to estimate a credit supply function which allows for risk-heterogeneity. Non-linearity is modeled using quantile regressions. Wepropose an instrumental variable approach in which changes in the taxtreatment of housing...

Persistent link: https://www.econbiz.de/10009248804

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

Central Bank Tools and Liquidity Shortages

Cecchetti, Stephen G.; Disyatat, Piti - London School of Economics and Political Science

, centralbanks have made extensive use of both new and existing toolsfor supplying central bank money to financial institutions …

Persistent link: https://www.econbiz.de/10005869394

Systemic Risk and Deposit Insurance Premiums

Acharya, Viral V.; Santos, João A. C.; Yorulmazer, Tanju - London School of Economics and Political Science

),1 which leads to “fire-sale”–related pecuniaryexternalities; and bank interconnectedness (Allen and Gale2000; Kahn and Santos …

Persistent link: https://www.econbiz.de/10005869397

An Economic Analysis of Liquidity-Saving Mechanisms

Martin, Antoine; McAndrews, James - London School of Economics and Political Science - 2008

modelof the behavior of parties, which for simplicity we refer to asbanks. Each bank has particular motivations and …

Persistent link: https://www.econbiz.de/10005869402

Banks’ Payments-Driven Revenues

Radecki, Lawrence J. - Federal Reserve Bank <New York, NY>; London School of … - 1999

bankingindustry. This goal is served by taking a broad view of thepayments business and analyzing information provided bylarge bank …

Persistent link: https://www.econbiz.de/10005870063

Supervisory Information and the Frequency of Bank Examinations

Hirtle, Beverly J.; López, José A. - Federal Reserve Bank <New York, NY>; London School of … - 1999

length of time between bank examinations affects thequality of information available to supervisors. For thesepurposes, we … condition of a bank. Our analysisassumes that examination information incorporates twotypes of data: information available from … information that can be obtained onlythrough on-site examinations, such as confidential informationabout a bank’s troubled assets …

Persistent link: https://www.econbiz.de/10005870064

Macro Markets and Financial Security

Athanasoulis, Stefano; Shiller, Robert J.; Van Wincoop, Eric - Yale University <New Haven, Conn.> / Department of Economics; … - 1999

[...]We address several questions in this paper. First,how could macro markets be useful to the average person?Second, how large are the potential benefits from diversificationif these markets were to be introduced andused optimally? Third, can existing financial marketsachieve a similar degree...

Persistent link: https://www.econbiz.de/10005870065