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Relationship Banking and the Pricing of Financial Services
Calomiris, Charles - 2006
We investigate how banking relationships that combine lending and underwriting services affect the terms of lending, through both loan supply- and loan demand-side effects, and the underwriting costs of debt and equity issues. We capture and control for firm characteristics, including...
Persistent link: https://www.econbiz.de/10012466039
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Financial Systems, Economic Growth, and Globalization
Rousseau, Peter L. - 2001
formal quantitative analysis. We begin with studies of the Dutch Republic, England, the U.S., France, Germany and Japan that … that the growth and increasing globalization of these economies might indeed have been 'finance-led.' …
Persistent link: https://www.econbiz.de/10012470401
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Banking and Insurance
Haubrich, Joseph G. - 1984
. However, a financial institution -- perhaps best viewed as a savings bank -- can provide partial insurance by generating a … the bank faces a tradeoff between provision of insurance and maintenance of private incentives …
Persistent link: https://www.econbiz.de/10012477783
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Risk Management in Financial Institutions
Rampini, Adriano A. - 2019
We study risk management in financial institutions using data on hedging of interest rate and foreign exchange risk. We find strong evidence that institutions with higher net worth hedge more, controlling for risk exposures, both across institutions and within institutions over time. For...
Persistent link: https://www.econbiz.de/10012479649
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Challenges in Banking the Rural Poor : Evidence from Kenya's Western Province
Dupas, Pascaline - 2012
Most people in rural Africa do not have bank accounts. In this paper, we combine experimental and survey evidence from … had two parts. In the first part, we waived the fixed cost of opening a basic savings account at a local bank for a random … evidence suggests that the main reasons people did not begin saving in their bank accounts are that: (1) they do not trust the …
Persistent link: https://www.econbiz.de/10012460808
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Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09
Acharya, Viral V. - 2010
The global imbalance explanation of the financial crisis of 2007-09 suggests that demand for riskless assets from countries with current account surpluses created fragility in countries with current account deficits, most notably, in the United States. We examine this explanation by analyzing...
Persistent link: https://www.econbiz.de/10012462576
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The Design of Financial Systems : Towards a Synthesis of Function and Structure
Merton, Robert C. - 2004
This paper proposes a functional approach to designing and managing the financial systems of countries, regions, firms, households, and other entities. It is a synthesis of the neoclassical, neo-institutional, and behavioral perspectives. Neoclassical theory is an ideal driver to link science...
Persistent link: https://www.econbiz.de/10012468071
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The FinTech Opportunity
Philippon, Thomas - 2016
This paper assesses the potential impact of FinTech on the finance industry, focusing on financial stability and access to services. I document first that financial services remain surprisingly expensive, which explains the emergence of new entrants. I then argue that the current regulatory...
Persistent link: https://www.econbiz.de/10012456201
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Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
Philippon, Thomas - 2012
I provide a quantitative interpretation of financial intermediation in the U.S. over the past 130 years. Measuring separately the cost of intermediation and the production of financial services, I find that: (i) the quantity of intermediation varies a lot over time; (ii) intermediation is...
Persistent link: https://www.econbiz.de/10012460582
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Structural Transformation and the Deterioration of European Labor Market Outcomes
Rogerson, Richard - 2007
This paper examines the evolution of hours worked in France, Germany, Italy and the US from 1956-2003 and assesses the … worked in Europe decline by almost 45% compared to the US over this period. This change is almost an order of magnitude … mid 1970s. Third, the decline in hours worked in Europe is almost entirely accounted for by the fact that Europe develops …
Persistent link: https://www.econbiz.de/10012465767