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Measuring the Spillovers of Venture Capital
Schnitzer, Monika - 2020
We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of established companies. Spillover effects are larger...
Persistent link: https://www.econbiz.de/10012853739
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Bank Capital Regulation with an Opportunistic Rating Agency
Efing, Matthias - 2013
This paper models the strategic interaction between a rating agency, a bank and a bank regulator who lacks information about bank asset risk. The regulator can either (1) make bank capital requirements contingent on credit ratings; or (2) set rating-independent capital requirements. Truthful...
Persistent link: https://www.econbiz.de/10013080503
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Bank Capital Regulation with an Opportunistic Rating Agency
Efing, Matthias - CESifo - 2013
This paper models the strategic interaction between a rating agency, a bank and a bank regulator who lacks information about bank asset risk. The regulator can either (1) make bank capital requirements contingent on credit ratings; or (2) set rating-independent capital requirements. Truthful...
Persistent link: https://www.econbiz.de/10010667420
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Basel Accord and Financial Intermediation : The Impact of Policy
Berka, Martin - 2013
This paper studies loan activity in a context where banks must follow Basel Accord-type rules and acquire financing from households. Loan activity typically decreases when entrepreneurs' investment returns decline, and we study which type of policy could revigorate an economy in a trough. We...
Persistent link: https://www.econbiz.de/10013091686
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Hybrid Historical Simulation VaR and ES : Performance in Developed and Emerging Markets
Zikovic, Sasa - 2009
We introduce a new hybrid approach to joint estimation of Value at Risk (VaR) and Expected Shortfall (ES) for high quantiles of return distributions. We investigate the relative performance of VaR and ES models using daily returns for sixteen stock market indices (eight from developed and eight...
Persistent link: https://www.econbiz.de/10013155427
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Banking Crisis Resolution Policy - Lessons from Recent Experience - Which Elements are Needed for Robust and Efficient Crisis Resolution?
Mayes, David G. - 2013
The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international efforts to coordinate and converge on such policies, national policy advice and resolution practices differ. The resolution methods adopted in the Nordic banking crises in the...
Persistent link: https://www.econbiz.de/10013095558
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Did Globalization Influence Credit Market Deregulation?
Eppinger, Peter - 2015
We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of the Fraser Institute. The results from both...
Persistent link: https://www.econbiz.de/10013021420
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Central Banking and Financial Stability in the Long Run
Cao, Jin - 2013
Most theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality central banks play complex, long horizon games and face more than one tradeoff. We account for these issues in a simple infinite horizon game with a novel tradeoff: higher rates deter...
Persistent link: https://www.econbiz.de/10013080504
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Indian Entrepreneurial Success in the United States, Canada and the United Kingdom
Fairlie, Robert W.; Krashinsky, Harry A.; … - 2021
data from the three largest developed countries receiving Indian immigrants in the world -- the United States, United … Kingdom and Canada -- we examine the performance of Indian entrepreneurs and explanations for their success. We find that … Canada, Indian entrepreneurs have average earnings slightly below the national average but they are more likely to hire …
Persistent link: https://www.econbiz.de/10013315668
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Brain Drain in the Age of Mass Migration : Does Relative Inequality Explain Migrant Selectivity?
Stolz, Yvonne; Baten, Joerg - 2021
Brain drain is a core economic policy problem for many developing countries today. Does relative inequality in source and destination countries influence the brain-drain phenomenon? We explore human capital selectivity during the period 1820-1909.We apply age heaping techniques to measure human...
Persistent link: https://www.econbiz.de/10013315938