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Multiple buffer CoCos and their impact on financial stability
Neamtu, Ioana - 2020
global games methodologies. Contingent convertible bonds are meant to act as a bail-in mechanism for banks, where CoCo debt …
Persistent link: https://www.econbiz.de/10012161027
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Investor protection and entry
Perotti, Enrico C.; Volpin, Paolo - 2006
Entry requires external finance, especially for less wealthy entrepreneurs, so poor investor protection limits competition. We model how incumbents lobby harder to block access to finance to entrants when politicians are less accountable to voters. In a broad cross-section of countries and...
Persistent link: https://www.econbiz.de/10011350369
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The political economy of financial systems
Haber, Stephen H.; Perotti, Enrico C. - 2008
This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...
Persistent link: https://www.econbiz.de/10011374399
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The fundamental equation in tourism finance
McAleer, Michael - 2015
The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important...
Persistent link: https://www.econbiz.de/10011391546
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Advances in financial risk management and economic policy uncertainty : an overview
Hammoudeh, Shawkat; McAleer, Michael - 2014
Financial risk management is difficult at the best of times, but especially so in the presence of economic uncertainty and financial crises. The purpose of this special issue on "Advances in Financial Risk Management and Economic Policy Uncertainty" is to highlight some areas of research in...
Persistent link: https://www.econbiz.de/10010366930
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The political economy of financial fragility
Feijen, Erik; Perotti, Enrico C. - 2005
While financial liberalization has in general favorable effects, reforms in countries with poor regulation is often followed by financial crises. We explain this variation as the outcome of lobbying interests capturing the reform process. Even after liberalization, market investors must rely on...
Persistent link: https://www.econbiz.de/10011348359
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Regulating the financial cycle : an integrated approach with a leverage ratio
Schoenmaker, Dirk; Wierts, Peter - 2015
We propose a regulatory approach for restricting debt financing as an amplification mechanism across the financial … system. A small stylised model illustrates the trade-off between static and time varying limits on leverage in dampening the … focuses instead on debt financing, endogenous feedback mechanisms and resource allocation. It explicitly addresses the …
Persistent link: https://www.econbiz.de/10010532609
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Risk and savings : a taxonomy
Gunning, Jan Willem - 2008
Risk may induce precautionary saving but it can also reduce saving. The theoretical literature recognizes both possibilities, but favors a positive effect (both for developed and developing countries); the empirical literature is divided, reporting (small) positive effects for developed...
Persistent link: https://www.econbiz.de/10011376643