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Large Banks and Small Firm Lending
Bord, Vitaly - 2018
We show that since 2007, there was a large and persistent shift in the composition of lenders to small firms. Large banks impacted by the real estate prices collapse systematically contracted their credit to all small firms throughout the U.S.. However, healthy banks expanded their operations...
Persistent link: https://www.econbiz.de/10012909114
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Does Macro-Pru Leak? Evidence from a UK Policy Experiment
Aiyar, Shekhar S. - 2012
The regulation of bank capital as a means of smoothing the credit cycle is a central element of forthcoming macro …--on both questions, using a unique dataset. In the UK, regulators have imposed time-varying, bank-specific minimum capital …
Persistent link: https://www.econbiz.de/10013110889
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Inflation-Indexed Bonds and the Expectations Hypothesis
Pflueger, Carolin E. - 2011
This paper empirically analyzes the Expectations Hypothesis (EH) in inflation-indexed (or real) bonds and in nominal bonds in the US and in the UK. We strongly reject the EH in inflation-indexed bonds, and also confirm and update the existing evidence rejecting the EH in nominal bonds. This...
Persistent link: https://www.econbiz.de/10013127982
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School Admissions Reform in Chicago and England : Comparing Mechanisms by Their Vulnerability to Manipulation
Pathak, Parag A. - 2011
In Fall 2009, officials from Chicago Public Schools changed their assignment mechanism for coveted spots at selective college preparatory high schools midstream. After asking about 14,000 applicants to submit their preferences for schools under one mechanism, the district asked them re-submit...
Persistent link: https://www.econbiz.de/10013130257
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Inflation Targeting
Svensson, Lars E. O. - 2011
Inflation targeting is a monetary-policy strategy that is characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major role to an inflation forecast and has been called forecast targeting, and a high degree of transparency and accountability....
Persistent link: https://www.econbiz.de/10013131986
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The State of Corporate Governance Research
Bebchuk, Lucian A. - 2011
This paper, which introduces the special issue on corporate governance co-sponsored by the Review of Financial Studies and the National Bureau of Economic Research (NBER), reviews and comments on the state of corporate governance research. The special issue features seven papers on corporate...
Persistent link: https://www.econbiz.de/10013134144
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Long-Run PPP May Not Hold after All
Engel, Charles M. - 2010
Recent tests using long data series find evidence in favor of long-run PPP (by rejecting either the null hypothesis of unit roots in real exchange rates or the null of no cointegration between nominal exchange rates and relative prices.) These tests may have reached the wrong conclusion. Monte...
Persistent link: https://www.econbiz.de/10013135309
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Analyzing Compensation Methods in Manufacturing : Piece Rates, Time Rates, or Gain-Sharing?
Helper, Susan - 2010
Economists have often argued that "pay for performance" is the optimal compensation scheme. However, use of the simplest form of pay for performance, the piece rate, has been in decline in manufacturing in recent decades. We show both theoretically and empirically that these changes are due to...
Persistent link: https://www.econbiz.de/10013135877
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Government, Openness and Finance : Past and Present
Demetriadis, Panicos - 2010
measured as the value of private loans issued at the Bank of England. For the wider panel of countries and more recent data, we …
Persistent link: https://www.econbiz.de/10013137020
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Precautionary Hoarding of Liquidity and Inter-Bank Markets : Evidence from the Sub-Prime Crisis
Acharya, Viral V. - 2010
this structural break, settlement bank liquidity had a precautionary nature in that it rose on calendar days with a large … overnight inter-bank rates to rise, an effect virtually absent in the pre-crisis period. This liquidity effect on inter-bank … stronger banks operating through the inter-bank markets …
Persistent link: https://www.econbiz.de/10013137765