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The welfare effect of access to credit
Rojas Breu, Mariana - Université Paris-Dauphine (Paris IX) - 2013
I present a model in which credit and outside money can be used as means of payment in order to analyze how access to credit affects welfare when credit markets feature limited participation. Allowing more agents to use credit has an ambiguous effect on welfare because it may make...
Persistent link: https://www.econbiz.de/10010708068
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Debt enforcement and the return on money
Rojas Breu, Mariana - Université Paris-Dauphine (Paris IX) - 2012
The rate-of-return-dominance puzzle asks why low-return assets, like fiat money, are used in actual economies given that risk-free higher-return assets are available. As long as this question remains unresolved, most conclusions from monetary models which arbitrarily restrict the marketability...
Persistent link: https://www.econbiz.de/10011074031
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Downgrades of sovereign credit ratings and impact on banks CDS spread: does disclosure by banks improve stability?
Guillemin, François; Alexandre, Hervé; … - Université Paris-Dauphine (Paris IX) - 2015
This paper investigates the relationship between disclosure and bank CDS spread during the sovereign debt crisis over …
Persistent link: https://www.econbiz.de/10011273974
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Financial intermediation, monitoring, and liquidity
Marini, François - Université Paris-Dauphine (Paris IX) - 2008
question : why do banks fund loans with both equity and demand deposits ? The model determines the optimal bank capital … structure. In comparison with a Diamond-Dybvig bank which funds loans with demand deposits only, a capitalized financial …
Persistent link: https://www.econbiz.de/10010707190
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Le protectionnisme bancaire a-t-il un sens aujourd'hui ?
Metais, Joël - Université Paris-Dauphine (Paris IX) - 2008
During this interview, Joel Metais retraces the milestones in the history of the financial industry, suffering under the constraints, as least as far as retail banks are concerned, of rules and regulations constituting thinly veiled protectionism, which in Europe has at last begun to give way to...
Persistent link: https://www.econbiz.de/10011072201
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Banking relationships and syndicated loans during the 2008 financial crisis
Alexandre, Hervé; Bouaiss, Karima; Refait-Alexandre, … - Université Paris-Dauphine (Paris IX) - 2014
previously developed relationship with a lead bank obtained a lower spread and a longer maturity during the financial crisis but …
Persistent link: https://www.econbiz.de/10010960595
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Le système financier indien à l'épreuve de la crise
Ano Sujithan, Kuhanathan - Université Paris-Dauphine (Paris IX) - 2014
This thesis first presents India’s economy and financial system’s recent history and current issues. Then, with an emphasis on the recent turmoil period, it studies the question of financial integration in various markets: equity markets are dealt with in the 1st chapter, CDS spreads are...
Persistent link: https://www.econbiz.de/10011212049
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Analyse et mesure du risque systémique
Héam, Jean-Cyprien - Université Paris-Dauphine (Paris IX) - 2015
This thesis contributes to the analysis and measure of systemic risk through four chapters. In the first chapter, we discuss the notion of systemic risk and detail the methodological issues of modeling. The second chapter proposes a structural model of solvency contagion. Within an equilibrium...
Persistent link: https://www.econbiz.de/10011265545
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An Alternative Model to Basel Regulation
Aboura, Sofiane; Lépinette-Denis, Emmanuel - Université Paris-Dauphine (Paris IX) - 2014
alternative model to Basel framework is derived where systemic risk is taken into account in each bank's dynamic. This might be a … systemic risk. Moreover, bank regulation is considered in a two-scale level, either at the bank level or at the system … compute the capital ratio threshold per year for each bank and each country and we rank them according to their level of …
Persistent link: https://www.econbiz.de/10010790026
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Bond market "conundrum" : new factors to explain long-term interest rates ?
Topeglo, Kokou; Brière, Marie; Signori, Ombretta - Université Paris-Dauphine (Paris IX) - 2008
Interest rates behaved highly atypically from 2004 to 2006. While the US central bank raised its policy rate at every …
Persistent link: https://www.econbiz.de/10010707901