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Government Guarantees and Bank Risk Taking Incentives
Fischer, Markus - 2014
This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of …
Persistent link: https://www.econbiz.de/10013055384
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Adverse Selection and Moral Hazard with Multidimensional Types
Kwon, Suehyun - 2017
This paper studies a contracting problem where agents' cost of actions is private information. With two actions, this leads to a two-dimensional screening problem with moral hazard. There is a natural one-dimensional ordering of types when there is both adverse selection and moral hazard....
Persistent link: https://www.econbiz.de/10012947518
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Ownership and Control in a Competitive Industry
Karle, Heiko; Klein, Tobias J.; Stahl, Konrad O. - 2021
We study a differentiated product market in which an investor initially owns a controlling stake in one of two competing firms and may acquire a non-controlling or a controlling stake in a competitor, either directly using her own assets, or indirectly via the controlled firm. While industry...
Persistent link: https://www.econbiz.de/10013316050
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Mechanism Design with Moral Hazard
Kwon, Suehyun - 2019
This paper characterizes when the one-stage deviation IC constraints in the usual sense of dynamic mechanism design are sufficient. One can easily construct examples of when they are not sufficient. If the current state or the belief is not a sufficient summary statics of the agent's private...
Persistent link: https://www.econbiz.de/10012901080
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Trade Union Membership and Sickness Absence : Evidence from a Sick Pay Reform
Goerke, Laszlo - 2012
In 1996, statutory sick pay was reduced for private sector workers in Germany. Using the empirical observation that trade union members are dismissed less often than non-members, we construct a model to predict how absence behavior will respond to the sick pay reform. We show that union members...
Persistent link: https://www.econbiz.de/10013101198
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Regulatory Arbitrage and the Efficiency of Banking Regulation
Boyer, Pierre - 2016
We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where to locate their activities and have private information about their efficiency level. Regulators non-cooperatively offer any regulatory contract that satisfies information and...
Persistent link: https://www.econbiz.de/10012991941
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Sovereign Default Risk and Banks in a Monetary Union
Uhlig, Harald - 2013
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank …
Persistent link: https://www.econbiz.de/10013076729
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On the Desirability of Taxing Capital Income to Reduce Moral Hazard in Social Insurance
Jacobs, Bas - 2009
This paper analyzes optimal linear taxes on labor income and savings in a standard two-period life-cycle model with endogenous leisure demands in both periods and non-insurable income risks. Households are subject to skill shocks in both periods of the life-cycle. We allow for completely general...
Persistent link: https://www.econbiz.de/10013155825
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Do Natural Hazards Cause International Migration?
Gröschl, Jasmin - 2016
with the World Bank's Global Bilateral Migration Database. Overall, our results suggest little evidence that natural …
Persistent link: https://www.econbiz.de/10012978452
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Moral Hazard : Base Models and Two Extensions
Macho-Stadler, Ines - 2016
We analyze the optimal contract in static moral hazard situations, where the agent's effort is not verifiable. We first present the main trade-offs of the principal-agent model. We cover the trade-off of incentives (motivation) vs. risk-sharing (efficiency), incentives vs. rents (when the agent...
Persistent link: https://www.econbiz.de/10012993024