Narrow search
Showing 1 - 10 of 76
Cover Image
Bank Deregulation, Competition and Economic Growth: The US Free Banking Experience
Ager, Philipp; Spargoli, Fabrizio - Tinbergen Instituut - 2013
We exploit the introduction of free banking laws in US states during the 1837-1863 period to examine the impact of removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic stability in this period, we are able to isolate the...
Persistent link: https://www.econbiz.de/10011256043
Cover Image
Ranking Systemically Important Financial Institutions
Dungey, Mardi; Luciani, Matteo; Veredas, David - Tinbergen Instituut - 2012
We propose a simple network–based methodology for ranking systemically important financial institutions. We view the risks of firms –including both the financial sector and the real economy– as a network with nodes representing the volatility shocks. The metric for the connections of the...
Persistent link: https://www.econbiz.de/10011255476
Cover Image
Incentives for Effective Risk Management
Daníelsson, Jón; Jorgensen, Bjørn N.; Vries, Casper G. de - Tinbergen Instituut - 2001
standard approach subsequent to becoming regulated, i.e., the presence of regulation may induce a bank to decrease the quality …
Persistent link: https://www.econbiz.de/10011255855
Cover Image
Regulating the Financial Cycle: An Integrated Approach with a Leverage Ratio
Schoenmaker, Dirk; Wierts, Peter - Tinbergen Instituut - 2015
system. Whereas the traditional view on regulation focuses on capital as a buffer against exogenous risks, our approach … boundary problem in entity-based financial regulation and provides a motivation for substantially lower levels of leverage …
Persistent link: https://www.econbiz.de/10011256230
Cover Image
The Impact of China on Stock Returns and Volatility in the Taiwan Tourism Industry
Chang, Chia-Lin; Hsu, Hui-Kuang; McAleer, Michael - Tinbergen Instituut - 2013
This discussion paper resulted in a publication in <I>The North American Journal of Economics and Finance</I> (2014). Volume 29(C), pages 381-401.<P> This paper investigates the stock returns and volatility size effects for firm performance in the Taiwan tourism industry, especially the impacts arising...</p></i>
Persistent link: https://www.econbiz.de/10011255765
Cover Image
Risk Measures for Autocorrelated Hedge Fund Returns
Cesare, Antonio Di; Stork, Philip A.; Vries, Casper G. de - Tinbergen Instituut - 2011
Standard risk metrics tend to underestimate the true risks of hedge funds becauseof serial correlation in the reported returns. Getmansky et al. (2004) derive mean,variance, Sharpe ratio, and beta formulae adjusted for serial correlation. Followingtheir lead, adjusted downside and global...
Persistent link: https://www.econbiz.de/10011255664
Cover Image
Shadow Banking and Traditional Bank Lending: The Role of Implicit Guarantees
Gornicka, Lucyna - Tinbergen Instituut - 2014
Bank holding companies (BHCs) invest in risky projects through bank entities or sell projects for a fee, thus engaging in shadow banking. BHCs can increase their fee income by guaranteeing sold projects with a recourse to the bank's balance sheet. When the expected guarantee repayments depend on...
Persistent link: https://www.econbiz.de/10011256875
Cover Image
Single-Till versus Dual-Till Regulation of Airports
Czerny, Achim I.; Zhang, Anmin - Tinbergen Instituut - 2015
are privately owned and experience little or no ex-ante regulation of airport charges. On the other hand, airports … activities into the regulation of airport infrastructure charges? This question is addressed in this paper. We discuss basic …
Persistent link: https://www.econbiz.de/10011261935
Cover Image
Democracy and Regulation: The Effects of Electoral Competition on Infrastructure Investments
Schram, Arthur; Ule, Aljaz - Tinbergen Instituut - 2013
This paper investigates infrastructure investment in markets where regulation is subject to varying degrees of … manipulation by elected politicians. Based on a model of price regulation in a market with increasing demand and long-term returns … made independent of future political manipulation. Independency of regulation thus decreases efficiency and consumer …
Persistent link: https://www.econbiz.de/10011257092
Cover Image
Credit Rationing Effects of Credit Value-at-Risk
Slijkerman, Jan Frederik; Smant, David J.C.; Vries, … - Tinbergen Instituut - 2004
asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem … of low quality, i.e. high risk, loans and therefore reduces the risk of the bank loan portfolio. However, CVaR regulation … welfare. CVaR regulation also affects the operation of monetary policy. …
Persistent link: https://www.econbiz.de/10011257219