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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-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, short-term, capital constrained, and with...

Persistent link: https://www.econbiz.de/10011256147

House Prices, Second Mortgages and Household Savings; An Empirical Investigation for the Netherlands, 1987-1994

Rouwendal, Jan; Alessie, Rob - Tinbergen Instituut - 2002

paper we study the effect of this developmenton the demand for second mortgages and on the savings of Dutch households. We … investigatethe effect of house prices on (i) the number and size of second mortgages, (ii) the savingsof owner-occupiers and (iii … for second mortgages.Savings of homeowners decrease when house prices accelerate. We find no evidence that inc …

Persistent link: https://www.econbiz.de/10011256325

Efficiency Gains of a European Banking Union

Schoenmaker, Dirk; Siegmann, Arjen - Tinbergen Instituut - 2013

An anticipated benefit of the prospective European Banking Union is stronger supervision of European banks. Another benefit would be enhanced resolution of banks in distress. While national governments confine themselves to the domestic effects of a banking failure, a European Resolution...

Persistent link: https://www.econbiz.de/10011255493

Asset Market Linkages in Crisis Periods

Hartmann, P.; Straetmans, S.; Vries, C.G. de - Tinbergen Instituut - 2001

We characterize asset return linkages during periods of stress by an extremal dependence measure. Contrary to correlation analysis, this nonparametric measure is not predisposed toward the normal distribution and can allow for nonlinear relationships. Our estimates for the G-5 countries suggest...

Persistent link: https://www.econbiz.de/10011255868

Investor Sentiment and Employment

Montone, Maurizio; Zwinkels, Remco C.J. - Tinbergen Instituut - 2015

We find that investor sentiment should affect a firm's employment policy in a world with moral hazard and noise traders. Consistent with the model's predictions, we show that higher sentiment among US investors leads to: (1) higher employment growth worldwide; (2) lower labor productivity, as the...

Persistent link: https://www.econbiz.de/10011255878

Recessions after Systemic Banking Crises: Does it matter how Governments intervene?

Wijnbergen, Sweder van; Homar, Timotej - Tinbergen Instituut - 2013

Systemic banking crises often continue into recessions with large output losses (Reinhart & Rogoff 2009a). In this paper we ask whether the way Governments intervene in the financial sector has an impact on the economy's subsequent performance. Our theoretical analysis focuses on bank incentives...

Persistent link: https://www.econbiz.de/10011256408