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Persistent link: https://www.econbiz.de/10001906603
this trend will continue. Based on our analysis, we conjecture that even if Europe might benefit from a continuation of the …, the trend is likely to benefit Southern Europe less than Northern Europe …
Persistent link: https://www.econbiz.de/10012469104
The paper uses bank- and instrument-level data on asset holdings and liabilities to identify and estimate a general … equilibrium model of trade in financial instruments. Bilateral ties are formed as each bank selects the size and the … lead to less amplification of partial equilibrium shocks, (ii) the influence of a bank's equity is independent of the size …
Persistent link: https://www.econbiz.de/10012479997
We study the relationship between compensation and risk-taking among finance firms using a neglected insight from principal-agent contracting with hidden action and risk-averse agents. If the sensitivity of pay to stock price or slope does not vary with stock price volatility, then total...
Persistent link: https://www.econbiz.de/10012462481
urban growth. Our estimates suggest that the presence of a bank at a given location in the late 1830s is associated with …
Persistent link: https://www.econbiz.de/10012462656
We measure how securitized assets, including mortgage-backed securities and other asset-backed securities, have shifted across financial institutions over this crisis and how the availability of financing has accommodated such shifts. Sectors dependent on repo financing - in particular, the...
Persistent link: https://www.econbiz.de/10012462732
Economists have argued that a high concentration of land holdings in a country can create powerful interest groups that retard the creation of economic institutions, and thus hold back economic development. Could these arguments apply beyond underdeveloped countries with backward political...
Persistent link: https://www.econbiz.de/10012463566
During extreme financial crises, all of a sudden, the financial world that was once rife with profit opportunities for financial institutions (banks, for short) becomes exceedingly complex. Confusion and uncertainty follow, ravaging financial markets and triggering massive flight-to-quality...
Persistent link: https://www.econbiz.de/10012463652
the size of the economy, (2) the association between an increase in economic output and an increase in bank development …
Persistent link: https://www.econbiz.de/10012460656
, raising credit terms to their borrowers. The picture that emerges from these findings looks less like a traditional bank run …
Persistent link: https://www.econbiz.de/10012460892