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A New Metric for Banking Integration in Europe
Gropp, Reint - 2009
taking place for retail banking. Data on cross-border retail bank flows, cross-border bank mergers and the law of one price … reveal no evidence of integration in retail banking. This paper shows that the previous tests of bank integration are weak in … that they are not based on an equilibrium concept and are neither necessary nor sufficient statistics for bank integration …
Persistent link: https://www.econbiz.de/10012463912
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Behavioral Public Economics : Welfare and Policy Analysis with Non-Standard Decision-Makers
Bernheim, B. Douglas - 2005
This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...
Persistent link: https://www.econbiz.de/10012467161
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Assessing the Age Specificity of Infection Fatality Rates for COVID-19 : Meta-Analysis & Public Policy Implications
Levin, Andrew T. - 2020
To assess age-specific infection fatality rates (IFRs) for COVID-19, we have conducted a systematic review of seroprevalence studies as well as countries with comprehensive tracing programs. Age-specific IFRs were computed using the prevalence data in conjunction with reported fatalities four...
Persistent link: https://www.econbiz.de/10012481451
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Incentive Pay and Bank Risk-Taking : Evidence from Austrian, German, and Swiss Banks
Efing, Matthias - 2014
We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify … document an economically significant correlation of incentive pay with both the level and volatility of bank trading income … share in the capital markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking …
Persistent link: https://www.econbiz.de/10012458200
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Is Investor Rationality Time Varying? Evidence from the Mutual Fund Industry
Glode, Vincent - 2009
We provide new empirical evidence suggesting that the marginal investor in mutual funds behaves differently across market conditions. If the marginal investor allocates capital across mutual funds rationally, then the relative performance of funds should be unpredictable. We find however that...
Persistent link: https://www.econbiz.de/10012463611
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Shadow Banking and the Four Pillars of Traditional Financial Intermediation
Farhi, Emmanuel - 2017
Traditional banking is built on four pillars: SME lending, access to public liquidity, deposit insurance, and prudential supervision. This vision has been shattered by repeated bailouts of shadow financial institutions. This paper puts ``special depositors and borrowers'' at the core of the...
Persistent link: https://www.econbiz.de/10012453784
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Uninformative Feedback and Risk Taking : Evidence from Retail Forex Trading
Ben-David, Itzhak - 2016
We document evidence consistent with retail day traders in the Forex market attributing random success to their own skill and, as a consequence, increasing risk taking. Although past performance does not predict future success for these traders, traders increase trade sizes, trade size...
Persistent link: https://www.econbiz.de/10012456529
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Retail Financial Advice : Does One Size Fit All?
Foerster, Stephen - 2014
Using unique data on Canadian households, we assess the impact of financial advisors on their clients' portfolios. We find that advisors induce their clients to take more risk, thereby raising expected returns. On the other hand, we find limited evidence of customization: advisors direct clients...
Persistent link: https://www.econbiz.de/10012457954
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Platform as a Rule Maker : Evidence from Airbnb's Cancellation Policies
Jia, Jian; Jin, Ginger Zhe; Wagman, Liad - National Bureau of Economic Research - 2021
Digital platforms are not only match-making intermediaries but also establish internal rules that govern all users in their ecosystems. To better understand the governing role of platforms, we study two Airbnb pro-guest rules that pertain to guest and host cancellations, using data on Airbnb and...
Persistent link: https://www.econbiz.de/10012585362
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Understanding Bank Runs : The Importance of Depositor-Bank Relationships and Networks
Iyer, Rajkamal - 2008
We use a unique, new, database to examine micro depositor level data for a bank that faced a run. We use minute … of bank-depositor relationships in influencing depositor propensity to run. We employ methods from the epidemiology … underlying factors. We find that deposit insurance is only partially effective in preventing bank runs. Further, our results …
Persistent link: https://www.econbiz.de/10012464366