Narrow search
Showing 1 - 10 of 1,414
Cover Image
Counterparty Risk, Impacton Collateral Flows and Role for Central Counterparties
Aitken, James - 2009
Counterparty risk in the United States stemming from exposures to OTC derivatives payables (after netting) is now concentrated in five banks?Goldman Sachs, JPMorgan, Bank of America, Morgan Stanley and Citi. This note analyzes how such risks have shifted over the past year. We estimate that the...
Persistent link: https://www.econbiz.de/10014403175
Cover Image
Are passive institutional investors engaged monitors or risk-averse owners? : both!
Yang, Yuanchen - 2021
We differentiate the effects of passive institutional investors, which mainly refer to index funds that adopt a passive portfolio strategy, on firms' innovation activities and innovation strategies. Relying on plausibly exogenous variation in passive institutional ownership generated by Russell...
Persistent link: https://www.econbiz.de/10012612334
Cover Image
Asset Mispricing Due to Cognitive Dissonance
Eckwert, Bernhard - 2005
The behavior of equity prices is analyzed in a general equilibrium model where agents have preferences not only over consumption but also (implicitly) over their beliefs. To alleviate cognitive dissonance, investors endogenously choose to ignore information that conflicts too much with their ex...
Persistent link: https://www.econbiz.de/10014400540
Cover Image
Herd Behavior in Financial Markets : A Review
Sharma, Sunil - 2000
Policymakers often express concern that herding by financial market participants destabilizes markets and increases the fragility of the financial system. This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. It addresses the...
Persistent link: https://www.econbiz.de/10014399902
Cover Image
Rational Speculation, Financial Crises, and Optimal Policy Responses
Surti, Jay - 2004
This paper develops a theory of the onset of financial crises by solving for the optimal trading strategies of …
Persistent link: https://www.econbiz.de/10014401439
Cover Image
Central counterparties : addressing their too important to fail nature
Wendt, Froukelien - 2015
Persistent link: https://www.econbiz.de/10011282760
Cover Image
Applying the central clearing mandate : different options for different markets
Kiff, John; Gullo, Alessandro; Hillier, Cory; … - 2022
mandatory central clearing frameworks in place, covering at least 90 percent of all standardized OTC derivatives in their … clearing, also in light of the international dimension of OTC derivatives contracts. This paper examines the policy options … available to countries that have yet to fully conform to the clearing mandate, centered on the setup of local CCPs or on the use …
Persistent link: https://www.econbiz.de/10013170536
Cover Image
Measuring the impact of a failing participant in payment systems
Heijmans, Ronald; Wendt, Froukelien - 2020
Banks and financial market infrastructures (FMIs) that are not able to fulfill their payment obligations can be a source of financial instability. This paper develops a composite risk indicator to evaluate the criticality of participants in a large value payment system network, combining...
Persistent link: https://www.econbiz.de/10012251903
Cover Image
Resolution frameworks for Islamic banks
Awadzi, Elsie Addo; Chartouni, Carine; Tamez, Mario - 2015
Islamic banking is growing rapidly and its potential impact on global financial stability cannot be underestimated. International standards for resolving banks have evolved after the global financial crisis, culminating in the Financial Stability Board's ('FSB') Key Attributes of Effective...
Persistent link: https://www.econbiz.de/10011705119
Cover Image
Central Counterparties: Addressing their Too Important to Fail Nature
2015 - Wendt, Froukelien ed
Central counterparties (CCPs) can offer significant benefits to a market. However, CCPs are also highly interconnected with financial institutions and markets and therefore too important to fail. The increased volumes cleared through CCPs and their increasing global scope, in particular in the...
Persistent link: https://www.econbiz.de/10014411929