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The industrial organization and regulation of the securities industry

Lo, Andrew W. (ed.) - 1996

Persistent link: https://www.econbiz.de/10000937532

Commercial bank activities in urban mortgage financing

Behrens, Carl F. - 1952

Persistent link: https://www.econbiz.de/10001906603

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts

Farhi, Emmanuel - 2009

The paper elicits a mechanism by which private leverage choices exhibit strategic complementarities through the reaction of monetary policy. When everyone engages in maturity transformation, authorities have little choice but facilitating refinancing. In turn, refusing to adopt a risky balance...

Persistent link: https://www.econbiz.de/10012463512

The Economics of Bank Supervision

Eisenbach, Thomas M. - 2016

We study bank supervision by combining a theoretical model distinguishing supervision from regulation and a novel … supervision and use the model to interpret the relation between supervisory efforts and bank characteristics observed in the data … proportionally with bank size, suggesting the presence of technological scale economies in supervision. The data also show …

Persistent link: https://www.econbiz.de/10012456474

Bank Trading Risk and Systemic Risk

Jorion, Philippe - 2005

This paper provides an empirical analysis of the risk of trading revenues of U.S. commercial banks. We collect quarterly data on trading revenues, broken down by business line, as well as the Value at Risk-based market risk charge. The overall picture from these preliminary results is that there...

Persistent link: https://www.econbiz.de/10012467650

For Richer, for Poorer : Bankers' Liability and Risk-taking in New England, 1867-1880

Koudijs, Peter - 2018

We study whether banks are riskier if managers have less liability. We focus on New England between 1867 and 1880 and consider the introduction of marital property laws that limited liability for newly wedded bankers. We find that banks with managers who married after a legal change had more...

Persistent link: https://www.econbiz.de/10012480651

Covering Up Trading Losses : Opportunity-Cost Accounting as an Internal Control Mechanism

Kane, Edward J. - 1998

This paper analyzes the methods of loss concealment used by rogue traders in the Barings and Daiwa scandals. The analysis clarifies how and why these firms' top managers and home-country regulators deserve blame for allowing cumulative losses to become so large. The central point is that...

Persistent link: https://www.econbiz.de/10012471988

The Rise of Domestic Outsourcing and the Evolution of the German Wage Structure

Goldschmidt, Deborah - 2015

growth of domestic outsourcing in Germany since the early 1990s. Event-study analyses show that wages in outsourced jobs fall … to contracting firms. For this end we develop a new method for identifying outsourcing of food, cleaning, security and … logistics services in administrative data using the universe of social security records in Germany. We document a dramatic …

Persistent link: https://www.econbiz.de/10012457302

CAViaR : Conditional Value at Risk by Quantile Regression

Engle, Robert F. - 1999

Value at Risk has become the standard measure of market risk employed by financial institutions for both internal and regulatory purposes. Despite its conceptual simplicity, its measurement is a very challenging statistical problem and none of the methodologies developed so far give satisfactory...

Persistent link: https://www.econbiz.de/10012471443

Forecasts in a Slightly Misspecified Finite Order VAR

Müller, Ulrich K. - 2011

We propose a Bayesian procedure for exploiting small, possibly long-lag linear predictability in the innovations of a finite order autoregression. We model the innovations as having a log-spectral density that is a continuous mean-zero Gaussian process of order 1/√T. This local embedding makes...

Persistent link: https://www.econbiz.de/10012461943

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