Showing 1 - 10 of 3,071
Financial safety nets are incomplete social contracts that assign responsibility to various economic sectors for preventing, detecting, and paying for potentially crippling losses at financial institutions. This paper uses the theories of incomplete contracts and sequential bargaining to...
Persistent link: https://www.econbiz.de/10012465955
This paper investigates movements of market indicators of banking fragility, namely, Japan premium, stock prices, and credit derivative spreads of Japanese banks. Although the Japan premium in the euro-dollar market seemed to have virtually disappeared since April 1999, credit and default risks...
Persistent link: https://www.econbiz.de/10012469110
-2014 and investigate the time-series and cross-sectional patterns of banks' liquidity and liquidity risk. Aggregate banking … risk as well as the liquidity risk of the entire banking system. We compare the LMI measure of liquidity to other measures …
Persistent link: https://www.econbiz.de/10012455951
high growth banks also have significantly higher crash risk over the three-year period. This poor performance is explained …
Persistent link: https://www.econbiz.de/10012456585
We study the recent episode of bank failures and provide simple facts to better understand who acquires failed banks and which forces drive the losses that the FDIC realizes from these sales. We document three distinct forces related to the allocation of failed banks to potential acquirers....
Persistent link: https://www.econbiz.de/10012458256
Over the course of the nineteenth century, the struggles of Paris Bourse to manage counterparty risk revealed the … regime that limited risk, trading began to migrate off the exchange to less regulated markets …
Persistent link: https://www.econbiz.de/10012463016
risk. This study develops the concept of "political risk" as the possibility that some future legislature will be forced to … and macroeconomic variables that support it. Thus there is a "political risk" to participants that might be compared to … the "market risk" in a personal accounts retirement scheme. In this paper, we carry out a detailed quantitative analysis …
Persistent link: https://www.econbiz.de/10012466520
Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived by households affects their spending decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...
Persistent link: https://www.econbiz.de/10012496179
"This paper studies empirically the relationship between trade policy and individual income risk faced by workers, and … three steps. First, longitudinal data on workers are used to estimate time-varying individual income risk parameters in … various manufacturing sectors. Second, the estimated income risk parameters and data on trade barriers are used to analyze the …
Persistent link: https://www.econbiz.de/10010522578
This paper provides an empirical investigation into the relationship between ex ante U.S. labor contract durations and uncertainty over the period 1970 to 1995. We construct measures of inflation uncertainty as well as aggregate nominal and real uncertainty. The results not only corroborate...
Persistent link: https://www.econbiz.de/10012471019