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Dividends and Bank Capital in the Financial Crisis of 2007-2009
Acharya, Viral V. - 2011
equity. The dwindling pool of common equity in the banking system may have been one reason for the continued reluctance by …
Persistent link: https://www.econbiz.de/10013128263
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Trust in Public Institutions Over the Business Cycle
Stevenson, Betsey - 2011
We document that trust in public institutions--and particularly trust in banks, business and government--has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear legacy...
Persistent link: https://www.econbiz.de/10013128268
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Were the Nigerian Banking Reforms of 2005 a Success ... And for the Poor?
Cook, Lisa D. - 2011
The Nigerian banking system was in crisis for much of the 1990's and early 2000's. The reforms of 2005 were ambitious …
Persistent link: https://www.econbiz.de/10013128269
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Informational Rents, Macroeconomic Rents, and Efficient Bailouts
Philippon, Thomas - 2011
We analyze government interventions to alleviate debt overhang among banks. Interventions generate two types of rents. Informational rents arise from opportunistic participation based on private information while macroeconomic rents arise from free riding. Minimizing informational rents is a...
Persistent link: https://www.econbiz.de/10013130980
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Implications of Corporate Capital Structure Theory for Banking Institutions
Orgler, Yair - 2011
in banking. The effects of corporate and personal taxes, government regulation, the technology of producing deposit … services and the costs of bankruptcy and agency problems are all discussed in the context of the U.S. commercial banking system …
Persistent link: https://www.econbiz.de/10013133321
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The Domestic and International Effects of Interstate U.S. Banking
Ghironi, Fabio Pietro - 2010
This paper studies the domestic and international effects of the transition to an interstate banking system implemented …. Interstate banking reduces the degree of local monopoly power of financial intermediaries. We show that the an economy that … the U.S. and international business cycle after the U.S. began its transition to interstate banking …
Persistent link: https://www.econbiz.de/10013135057
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The Valuation Effects of Geographic Diversification : Evidence from U.S. Banks
Goetz, Martin Richard - 2011
This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United States on their market valuations. Using two novel identification strategies based on the dynamic process of interstate bank deregulation, we find that exogenous increases in...
Persistent link: https://www.econbiz.de/10013117404
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Why Did U.S. Banks Invest in Highly-Rated Securitization Tranches?
Erel, Isil - 2011
We estimate holdings of highly-rated tranches of mortgage securitizations of American deposit-taking banks ahead of the credit crisis and evaluate hypotheses that have been advanced to explain these holdings. We find that holdings of highly-rated tranches were economically trivial for the...
Persistent link: https://www.econbiz.de/10013121733
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A Model of Shadow Banking
Gennaioli, Nicola - 2011
We present a model of shadow banking in which financial intermediaries originate and trade loans, assemble these loans … expectations, the shadow banking system is stable and improves welfare. When investors and intermediaries neglect tail risks …
Persistent link: https://www.econbiz.de/10013123980
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Banks, Market Organization, and Macroeconomic Performance : An Agent-Based Computational Analysis
Ashraf, Quamrul H. - 2011
This paper is an exploratory analysis of the role that banks play in supporting the mechanism of exchange. It considers a model economy in which exchange activities are facilitated and coordinated by a self-organizing network of entrepreneurial trading firms. Collectively, these firms play the...
Persistent link: https://www.econbiz.de/10013124233