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Eckwert, Bernhard; Zilcha, Itzhak - 2011

In higher education pure credit market funding leads to underinvestment while income-contingent loans funding tends to produce overinvestment. We analyze whether a market structure in which both funding schemes coexist and compete against each other might restore efficiency of the educational...

Persistent link: https://www.econbiz.de/10009303925

Credit market competition and liquidity crises

Elena, Carletti; Leonello, Agnese - 2014

We develop a model where banks invest in reserves and loans, and face aggregate liquidity shocks. Banks with liquidity shortage sell loans on the interbank market. Two equilibria emerge. In the no default equilibrium, all banks hold enough reserves and remain solvent. In the mixed equilibrium,...

Persistent link: https://www.econbiz.de/10010249670

The financial accelerator in the euro area : new evidence using a mixture VAR model

Bennani, Hamza; Neuenkirch, Matthias - 2020

We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over the period 2003Q1–2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy transmission can be described as mixture of two states...

Persistent link: https://www.econbiz.de/10012383710

The unemployment accelerator

Blanco, Andres; Navarro, Gaston - 2016

This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on two key assumptions: search frictions in the labor...

Persistent link: https://www.econbiz.de/10011573865

Sustainability of product market collusion under credit market imperfections

Marjit, Sugata; Mukherjee, Arijit; Yang, Lei - 2016

We study the implications of credit constraints for the sustainability of product market collusion in a bank …

Persistent link: https://www.econbiz.de/10011587934

What does peer-to-peer lending evidence say about the risk-taking channel of monetary policy?

Huang, Yiping; Li, Xiang; Wang, Chu - 2019

This paper uses loan application-level data from a peer-to-peer lending platform to study the risk-taking channel of monetary policy. By employing a direct ex-ante measure of risk-taking and estimating the simultaneous equations of loan approval and loan amount, we are the first to provide...

Persistent link: https://www.econbiz.de/10012057284

Asset level heterogeneity, competition and export incentives : the role of credit rationing

Marjit, Sugata; Ray, Moushakhi - 2020

Firm heterogeneity is mostly discussed in the literature from the viewpoint of productivity differential. In contrast this paper recognizes wealth heterogeneity as an important factor that results in firm heterogeneity. The issue of wealth heterogeneity and export incentive through credit market...

Persistent link: https://www.econbiz.de/10012199980

Brož, Václav; Kočenda, Evžen - 2021

the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …

Persistent link: https://www.econbiz.de/10012697108

EU banks rating assignments : is there heterogeneity between new and old member countries?

Caporale, Guglielmo Maria; Matousek, Roman; Stewart, Chris - 2010

We model EU countries' bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our …

Persistent link: https://www.econbiz.de/10003974520

Bank competition and financial stability : a general equilibrium exposition

De Nicolò, Gianni; Lucchetta, Marcella - 2013 - This draft: January 30, 2013

mechanisms for bank risk-taking studied in a large partial equilibrium literature. We show that competitive equilibriums maximize … banks is higher than that of banks enjoying monopoly rents, and is robust to the introduction of social costs of bank … failures. In this model, there is no trade-off between bank competition and financial stability. -- general equilibrium ; bank …

Persistent link: https://www.econbiz.de/10009707593