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BRICS joint financial architecture : the New Development Bank
Silva, Luciana Acioly da - 2019
The present text aims to analyze the New Development Bank (NDB) established by BRICS as part of the group’s financial architecture, focusing on the main motivations for its creation, ways of acting and governance structure. Although focused on providing credit for infrastructure and...
Persistent link: https://www.econbiz.de/10012061815
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Information transmission between banks and the market for corporate control
Bittner, Christian; Fecht, Falko; Pala, Melissa; Saidi, … - 2022
This paper provides evidence of deliberate private-information disclosure within banks’ international business networks. Using supervisory trade-level data, we show that banks with closer ties to a target advisor in a takeover buy more stocks of the target firm prior to the deal announcement,...
Persistent link: https://www.econbiz.de/10013336388
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Updating the option implied probability of default methodology
Vilsmeier, Johannes - 2014
In this paper we ‘update’ the option implied probability of default (option iPoD) approach recently suggested in the literature. First, a numerically more stable objective function for the estimation of the risk neutral density is derived whose integrals can be solved analytically. Second,...
Persistent link: https://www.econbiz.de/10010471968
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Real effects of foreign exchange risk migration : evidence from matched firm-bank microdata
Abbassi, Puriya; Bräuning, Falk - 2020
When firms trade forward contracts with banks to protect foreign currency cash flows against exchange rate movements, foreign exchange risk migrates to the banking sector. We show how this migrated risk may induce systemic repercussions with severe implications for the real economy. For...
Persistent link: https://www.econbiz.de/10012292246
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The time-varying impact of systematic risk factors on corporate bond spreads
Klein, Arne Christian; Pliszka, Kamil - 2018
market conditions, on the other. Our evidence for market indices of euro-denominated bonds suggests that systematic risk …
Persistent link: https://www.econbiz.de/10011855295
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What are the real effects of financial market liquidity? : evidence on bank lending from the euro area
Dombret, Andreas R.; Foos, Daniel; Pliszka, Kamil; … - 2018
We analyze the impact of market liquidity on bank lending in the euro area for different segments over the period 2003 …
Persistent link: https://www.econbiz.de/10011897986
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Delegating pricing power to customers : pay what you want or name your own price?
Krämer, Marius-Florentin; Schmidt, Klaus M.; Spann, Martin - 2017
Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customer driven pricing mechanisms that give customers (some) pricing power. Both have been used in service industries with high fixed costs to price discriminate without setting a reference price. Their participatory and innovative...
Persistent link: https://www.econbiz.de/10011591510
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Bargaining power and outside options in the interbank lending market
Abbassi, Puriya; Bräuning, Falk; Schulze, Niels - 2017
bilateral Nash bargaining model and test the model predictions with detailed transaction-level data from the euro-area interbank … euro interbank market. We examine the implications of these findings for the transmission of euro-area monetary policy. …
Persistent link: https://www.econbiz.de/10011740274
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Currency unions in prospect and retrospect
Silva, João Santos; Tenreyro, Silvana - 2010
Persistent link: https://www.econbiz.de/10003971893
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Spillover effects of credit default risk in the euro area and the effects on the euro : a GVAR approach
Bettendorf, Timo - 2016
those of bailouts. Furthermore, we demonstrate that the Euro depreciates significantly against the Yen and US Dollar … following general risk shocks in the euro area and only to a small extent following bailout shocks. The Pound Sterling is not … affected by any of these shocks. The Euro variability is, from the EMU perspective, mainly driven by shocks stemming from large …
Persistent link: https://www.econbiz.de/10011549749