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Lopez-de-Silane, Florencio - 1996

Generating government revenue is a common objective in privatization. This paper asks: what determines privatization … actions prior to privatization. The data, gathered from primary sources, encompass 361 privatized Mexican companies in 49 four …-digit industry codes. The determinants of auction privatization prices are divided into three groups: (1) company performance and …

Persistent link: https://www.econbiz.de/10012473365

Banking Crises in Historical Perspective

Frydman, Carola; Xu, Chenzi - National Bureau of Economic Research - 2023

This paper surveys the recent empirical literature on historical banking crises, defined as events taking place before 1980. Advances in data collection and identification have provided new insights into the causes and consequences of crises both immediately and over the long run. We highlight...

Persistent link: https://www.econbiz.de/10014248010

Trade Shocks and Credit Reallocation

Federico, Stefano; Hassan, Fadi; Rappoport, Veronica - National Bureau of Economic Research - 2023

into the World Trade Organization. As a result, they reduce the supply of credit to firms, irrespective of the firm …

Persistent link: https://www.econbiz.de/10014250129

Book Value Risk Management of Banks : Limited Hedging, HTM Accounting, and Rising Interest Rates

Granja, João; Jiang, Erica Xuewei; Matvos, Gregor; … - National Bureau of Economic Research - 2024

In the face of rising interest rates in 2022, banks mitigated interest rate exposure of the accounting value of their assets but left the vast majority of their long-duration assets exposed to interest rate risk. Data from call reports and SEC filings shows that only 6% of U.S. banking assets...

Persistent link: https://www.econbiz.de/10014512148

Business as Usual : Bank Net Zero Commitments, Lending, and Engagement

Sastry, Parinitha; Verner, Emil; Marqués Ibáñez, David - National Bureau of Economic Research - 2024

We use administrative credit registry data from Europe to study the impact of voluntary lender net zero commitments. We have two sets of findings. First, we find no evidence of lender divestment. Net zero banks neither reduce credit supply to the sectors they target for decarbonization nor do...

Persistent link: https://www.econbiz.de/10014544681

Is the Decline in the Number of Community Banks Detrimental to Community Economic Development?

Minton, Bernadette A.; Taboada, Alvaro G.; Williamson, Rohan - National Bureau of Economic Research - 2024

Our research examines the impact of dwindling community bank numbers on community investment and economic development. Initially, we confirm the vital role of community banks' small business lending in local development. Contrary to popular belief, we find that a decrease in community banks...

Persistent link: https://www.econbiz.de/10014544798

Corporate Social Responsibility

Hong, Harrison G.; Shore, Edward P. - National Bureau of Economic Research - 2022

Is shareholder interest in corporate social responsibility driven by pecuniary motives (abnormal rates of return) or non-pecuniary ones (willingness to sacrifice returns to address various firm externalities)? To answer this question, we categorize the literature into seven tests: (1) costs of...

Persistent link: https://www.econbiz.de/10013477263

Monetary Policy Operations : Theory, Evidence, and Tools for Quantitative Analysis

Lagos, Ricardo; Navarro, Gastón - National Bureau of Economic Research - 2023

We formulate a quantitative dynamic equilibrium theory of trade in the fed funds market, calibrate it to fit a comprehensive set of marketwide and micro-level cross-sectional observations, and use it to make two contributions to the operational side of monetary policy implementation. First, we...

Persistent link: https://www.econbiz.de/10014322758

The Secular Decline of Bank Balance Sheet Lending

Buchak, Greg; Matvos, Gregor; Piskorski, Tomasz; Seru, Amit - National Bureau of Economic Research - 2024

The traditional model of bank-led financial intermediation, where banks issue demandable deposits to savers and make informationally sensitive loans to borrowers, has seen a dramatic decline since 1970s. Instead, private credit is increasingly intermediated through arms-length transactions, such...

Persistent link: https://www.econbiz.de/10014486266

The Deposit Business at Large vs. Small Banks

Avernas, Adrien d'; Eisfeldt, Andrea L.; Huang, Can; … - National Bureau of Economic Research - 2023

The deposit business differs at large versus small banks. We provide a parsimonious model and extensive empirical evidence supporting the idea that much of the variation in deposit-pricing behavior between large and small banks reflects differences in "preferences and technologies." Large banks...

Persistent link: https://www.econbiz.de/10014436996

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