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Identifying the Weights in Exchange Market Pressure
Klaassen, Franc - Tinbergen Instituut - 2011
Exchange market pressure (EMP) measures the pressure on a currency to depreciate. It adds to the actual depreciation a weighted combination of policy instruments used to ward off depreciation, such as interest rates and foreign exchange interventions, where the weights are their effectiveness....
Persistent link: https://www.econbiz.de/10011256391
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The Macroeconomics of the Credit Crisis: In Search of Externalities for Macro-Prudential Supervision
Butter, Frank A.G. den - Tinbergen Instituut - 2010
This discussion paper led to publication in (E.F.M. Wubben (Ed.)) 'Institutions and Regulation for Economic Growth? Public Interest versus Private Incentives', 2011, pp. 187-209, Cheltenham: Edward Elgar. <P> In the analysis of the credit crisis of 2007-2010 a clear distinction should be made...</p>
Persistent link: https://www.econbiz.de/10011256773
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Recessions after Systemic Banking Crises: Does it matter how Governments intervene?
Wijnbergen, Sweder van; Homar, Timotej - Tinbergen Instituut - 2013
restructuring provide banks with incentives to restructure bad loans and free up resources for new economic activity. Other … interventions lead banks to roll over bad loans, tying up resources in distressed firms. Our analysis suggests that zombie banks are … recapitalizations, significantly reduces recession duration. The effect of liquidity support on the probability of recovery is positive …
Persistent link: https://www.econbiz.de/10011256408
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Banking and Trading
Boot, Arnoud W.A.; Ratnovski, Lev - Tinbergen Instituut - 2012
We study the effects of a bank’s engagement in trading. Traditional banking is relationship-based: not scalable, long … leads trading in banks to become increasingly risky, so that problems in managing and regulating trading in banks will …
Persistent link: https://www.econbiz.de/10011256147
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The Effects of Liquidity Regulation on Bank Assets and Liabilities
Duijm, Patty; Wierts, Peter - Tinbergen Instituut - 2014
Under Basel III rules, banks become subject to a liquidity coverage ratio (LCR) from 2015 onwards, to promote short …-term resilience. We investigate the effects of such liquidity regulation on bank liquid assets and liabilities. Results indicate co …-integration of liquid assets and liabilities, to maintain a minimum short-term liquidity buffer. Still, microprudential regulation …
Persistent link: https://www.econbiz.de/10011256455
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Credit Rationing Effects of Credit Value-at-Risk
Slijkerman, Jan Frederik; Smant, David J.C.; Vries, … - Tinbergen Instituut - 2004
Banks provide risky loans to firms which have superior information regarding the quality of their projects. Due to … asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem …
Persistent link: https://www.econbiz.de/10011257219
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Modeling Monetary Policy
Reynard, Samuel; Schabert, Andreas - Tinbergen Instituut - 2009
conditions, i.e. the varying liquidity value ofeligible assets and the associated risk. This induces a liquiditypremium, which …
Persistent link: https://www.econbiz.de/10011256586
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Auctioning Incentive Contracts: An Experimental Study
Onderstal, Sander; Meerendonk, Arthur Van de - Tinbergen Instituut - 2009
In this note, we experimentally examine the relative performance of price-only auctions and multi-attribute auctions. We do so in procurement settings where the buyer can give the winning bidder incentives to exert effort on non-price dimensions after the auction. Both auctions theoretically...
Persistent link: https://www.econbiz.de/10011255455
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Keeping out Trojan Horses: Auctions and Bankruptcy in the Laboratory
Onderstal, Sander; Veen, Ailko van der - Tinbergen Instituut - 2011
If a government auctions the right to market a good, continuity is likely to be of significant importance. In a laboratory experiment, we compare the effects of bidders' limited liability in the first-price sealed-bid auction and the English auction in a common value setting. Our data strongly...
Persistent link: https://www.econbiz.de/10011255466
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Auctions with Flexible Entry Fees
Janssen, Maarten; Karamychev, Vladimir A.; Maasland, Emiel - Tinbergen Instituut - 2009
This discussion paper led to an article in <I>Games and Economic Behavior</I> (2011). Vol. 72, pp. 594-601.<P> There is by now a large literature arguing that auctions with a variety of after-market interactions may not yield an efficient allocation of the objects for sale, especially when the bidders...</p></i>
Persistent link: https://www.econbiz.de/10011255544