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Uhlig, H.F.H.V.S. - Tilburg University, Center for Economic Research - 2000

Persistent link: https://www.econbiz.de/10011092640

Managing Credit Booms and Busts : A Pigouvian Taxation Approach

Jeanne, O.; Korinek, A. - Tilburg University, Center for Economic Research - 2010

We study a dynamic model in which the interaction between debt ac- cumulation and asset prices magni es credit booms and busts. We find that borrowers do not internalize these feedback e¤ects and therefore suf- fer from excessively large booms and busts in both credit flows and asset prices. We...

Persistent link: https://www.econbiz.de/10011090857

Monetary Policy Rules, Adverse Selection and Long-Run Financial Risk

Eijffinger, Sylvester; Blommestein, H.J.; Qian, Z. - Tilburg University, Center for Economic Research - 2011

This paper constructs a macro-finance model with two types of borrowers: entrepreneurs who engage in productive activities and gamblers who play in lotteries. It links a central bank's interest rate policy to expected cash ows of both types of borrowers. Via this link we study how the...

Persistent link: https://www.econbiz.de/10011090362

The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China

Degryse, Hans; Cheng, X. - Tilburg University, Center for Economic Research - 2006

of institutions - banks and non-bank financial institutions - have a (significantly different) impact on local economic …

Persistent link: https://www.econbiz.de/10011091707

The Dark Side of Bank Wholesale Funding

Huang, R.; Ratnovksi, L. - Tilburg University, Center for Economic Research - 2009

Commercial banks increasingly use short-term wholesale funds to supplement traditional retail deposits. Existing … literature mainly points to the "bright side" of wholesale funding: sophisticated financiers can monitor banks, disciplining bad …

Persistent link: https://www.econbiz.de/10011092929

Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment - Theory and Some Evidence

Cukierman, A.; Lippi, F. - Tilburg University, Center for Economic Research - 1998

This paper proposes a conceptual framework to investigate the effects of central bank independence, of the degree of centralization of wage bargaining and of the interaction between those institutional variables, on real wages, unemployment and inflation, in a framework in which unions are...

Persistent link: https://www.econbiz.de/10011090389

Labor markets and Monetary Union : A Strategic Analysis

Cukierman, A.; Lippi, F. - Tilburg University, Center for Economic Research - 1999

Persistent link: https://www.econbiz.de/10011091440

MBS Ratings and the Mortgage Credit Boom

Ashcraft, A.; Goldsmith-Pinkham, P.; Vickery, J. - Tilburg University, Center for Economic Research - 2010

We study credit ratings on subprime and Alt-A mortgage-backed securities (MBS) deals issued between 2001 and 2007, the period leading up to the subprime crisis. The fraction of highly-rated securities in each deal is decreasing in mortgage credit risk (measured either ex-ante or ex-post),...

Persistent link: https://www.econbiz.de/10011090320

Corporate Governance, Opaque Bank Activities, and Risk/Return Efficiency : Pre- and Post-Crisis Evidence from Turkey

De Jonghe, Olivier; Disli, M.; Schoors, K. - Tilburg University, Center for Economic Research - 2011

Does better corporate governance unambiguously improve the risk/return efficiency of banks? Or does either a re …-orientation of banks' revenue mix towards more opaque products, an economic downturn, or tighter supervision create off-setting or … Turkish banks. The 2000 financial crisis was a wakeup call for bank efficiency and corporate governance. As a result, better …

Persistent link: https://www.econbiz.de/10011090672

Financial Connections and Systemic Risk

Allen, F.; Babus, A.; Carletti, E. - Tilburg University, Center for Economic Research - 2010

. Upon the arrival of a signal about banks’ future defaults, investors update their expectations of bank solvency. If their …

Persistent link: https://www.econbiz.de/10011091107