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Securitization and moral hazard: Does security price matter?
Liu, Luke - Volkswirtschaftliche Fakultät, … - 2011
This article analyses the effect of security price on the behaviour of bank securitization. We present a model of bank … securitization in which security price together with liquid constraints create the incentive for banks to originate and sell assets … incentive to conduct strategic securitization and the moral hazard problem is serious. Our main idea has been supported by the …
Persistent link: https://www.econbiz.de/10009372531
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New approaches to crisis resolution: Weighing the options (A comment)
Reinhart, Carmen - Volkswirtschaftliche Fakultät, … - 2003
Comments on: Barry Eichengreen, Kenneth Kletzer, and Ashoka Mody who describe the debate over collective action clauses, which have been considered by the G-7,G-10, G-20, G-22, G-30, Institute of International Finance (IIF),International Monetary Fund, International Monetary and Financial...
Persistent link: https://www.econbiz.de/10005835825
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Schuldenanstieg und Haftungsausschluss im deutschen Föderalstaat: Zur Rolle des Moral Hazard
Wolff, Guntram B - Volkswirtschaftliche Fakultät, … - 2007
The paper discusses moral hazard problems as a potential reason for the observed strong increase of indebtedness of German states (Länder). Indeed, financial markets do not react much to the strong differences in fiscal fundamentals of German Länder. Using a case study, the paper also shows...
Persistent link: https://www.econbiz.de/10005835982
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Rank expectations, feedback and social hierarchies
Kuhnen, Camelia M.; Tymula, Agnieszka - Volkswirtschaftliche Fakultät, … - 2008
We develop and test experimentally a theoretical model of the role of self-esteem, generated by private feedback regarding relative performance, on the behavior of agents working on an effort provision task for a flat wage. Agents work harder and expect to rank better when they are told they may...
Persistent link: https://www.econbiz.de/10005836122
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Credit risk management in banks: Hard information, soft Information and manipulation
Godbillon-Camus, Brigitte; Godlewski, Christophe - Volkswirtschaftliche Fakultät, … - 2005
The role of information’s processing in bank intermediation is a crucial input. The bank has access to different types of information in order to manage risk through capital allocation for Value at Risk coverage. Hard information, contained in balance sheet data and produced with credit...
Persistent link: https://www.econbiz.de/10005836711
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Occupational Self-Selection in a Labor Market with Moral Hazard
Demiralp, Berna - Volkswirtschaftliche Fakultät, … - 2007
This paper presents a model of occupational choice in a labor market characterized by moral hazard. The model demonstrates that in such a labor market, workers' occupational choices are determined by not only their comparative advantage but also their effort decisions in each occupation. The...
Persistent link: https://www.econbiz.de/10005836841
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Frequent Monitoring in Repeated Games under Brownian Uncertainty
Osório-Costa, António M. - Volkswirtschaftliche Fakultät, … - 2009
This paper studies frequent monitoring in a simple infinitely repeated game with imperfect public information and discounting, where players observe the state of a continuous time Brownian process at moments in time of length Δ. It shows that efficient strongly symmetric perfect public...
Persistent link: https://www.econbiz.de/10005837095
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Joint venture instability: a life cycle approach
Roy Chowdhury, Prabal; Roy Chowdhury, Indrani - Volkswirtschaftliche Fakultät, … - 2001
Joint ventures represent one of the most fascinating developments in international business. In the last few decades, the rate of joint venture formation has accelerated dramatically. Nowadays joint ventures are much more widespread and occur in industries like telecommunications, biotechnology...
Persistent link: https://www.econbiz.de/10005837169
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Positive self-image and incentives in organizations
Santos-Pinto, Luís - Volkswirtschaftliche Fakultät, … - 2003
This paper investigates the implications of individuals’ mistaken beliefs of their abilities on incentives in organizations using the principal-agent model of moral hazard. The paper shows that if effort is observable, then an agent’s mistaken beliefs about own ability are always favorable...
Persistent link: https://www.econbiz.de/10005837521
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Preparing for Basel IV (whilst commending Basel III) : why liquidity risks still present a challenge to regulators in prudential supervision ( Part II)
Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2010
Whilst the predecessor (Part I) to this paper addresses criticisms and challenges which have arisen in response to recent Basel Committee's initiatives aimed at addressing capital and liquidity standards, the present paper highlights further measures which are being introduced by the Basel...
Persistent link: https://www.econbiz.de/10009203633