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Castiglionesi, Fabio; Navarro, N. - Tilburg University, Center for Economic Research - 2007

We study a financial network characterized by the presence of depositors, banks and their shareholders. Belonging to a financial network is beneficial for both the depositors and banks' shareholders since the return to investment increases with the number of banks connected. However, the network...

Persistent link: https://www.econbiz.de/10011091225

Repo Runs

Martin, A.; Skeie, D.; von Thadden, E.L. - Tilburg University, Center for Economic Research - 2010

This paper develops a model of financial institutions that borrow short- term and invest into long-term marketable assets. Because these financial intermediaries perform maturity transformation, they are subject to runs. We endogenize the profits of the intermediary and derive distinct liquidity...

Persistent link: https://www.econbiz.de/10011091680

The Role of Finance in Economic Development : Benefits, Risks, and Politics

Beck, Thorsten - Tilburg University, Center for Economic Research - 2011

Abstract: Theoretical and empirical research has shown that a sound and effective financial system is critical for economic development and growth. The financial system, however, is also subject to boom and bust cycles and fragility, with negative repercussions for the real economy. Further, the...

Persistent link: https://www.econbiz.de/10011092153

Bank Liquidity, Interbank Markets, and Monetary Policy

Freixas, X.; Martin, A.; Skeie, D. - Tilburg University, Center for Economic Research - 2010

A major lesson of the recent financial crisis is that the interbank lending market is crucial for banks facing large uncertainty regarding their liquidity needs. This paper studies the efficiency of the interbank lending market in allocating funds. We consider two different types of liquidity...

Persistent link: https://www.econbiz.de/10011092909

Dynamic Investment Behavior Taking into Account Ageing of the Capital Good

Kort, Peter; Feichtinger, G.; Hartl, R.F.; Veliov, V. - Tilburg University, Center for Economic Research - 2001

.However, due to ageing, in reality it holds most of the time that newer capital goods are more productive. Implications of this …

Persistent link: https://www.econbiz.de/10011090492

Altruism and fairness in a public pension system

van der Heijden, Eline; nelissen, jan; Verbon, H.A.A. - Tilburg University, Center for Economic Research - 1995

In this paper it is empirically investigated whether feelings of altruism towards members of other generations and senses of justice have an impact on the individual s evaluation of the public pension system. The data have been obtained from a large-scale survey carried out among a...

Persistent link: https://www.econbiz.de/10011090542

Social Security Reform and Population Ageing in a Two-Sector Growth Model

van Groezen, Bas; Meijdam, Lex; Verbon, H.A.A. - Tilburg University, Center for Economic Research - 2002

This paper analyses the effects of reducing unfunded social security and population ageing on economic growth and … raises productivity growth in a closed economy, both in the short and long run. Furthermore, ageing will lead to a lower long …-run rate of economic growth in a small open economy, whereas in the short run, the effects depend on the type of ageing and the …

Persistent link: https://www.econbiz.de/10011090756

The political economy of a changing population

Beetsma, R.M.W.J. - Tilburg University, Center for Economic Research - 1995

, the tax burden on the young (used to repay the public debt held by the old) increases, so that their support for a low tax …

Persistent link: https://www.econbiz.de/10011091032

Family Size, Looming Demographic Changes and the Efficiency of Social Security Reform

van Groezen, Bas; Meijdam, Lex; Leers, T. - Tilburg University, Center for Economic Research - 2000

This paper analyses the eeffects of ageing and child support in a model with endogenous fertility and Pay …

Persistent link: https://www.econbiz.de/10011091071

Aging and Public Pensions in an Overlapping-Generations Model

Meijdam, Lex; Verbon, H.A.A. - Tilburg University, Center for Economic Research - 1995

In this paper decision making on public pensions is modeled within the framework of the well-known two-overlapping-generations general-equilibrium model with rational expectations. The model is used to analyze the effects of aging on the evolution of public pension schemes. Analytical results...

Persistent link: https://www.econbiz.de/10011092246