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Barriers to household risk management: Evidence from India
Cole, Shawn; Giné, Xavier; Tobacman, Jeremy; Topalova, … - 2009
insurance product designed to compensate low-income Indian farmers in the event of insufficient rainfall during the primary … purchase the insurance, even though they overwhelmingly cite rainfall variability as their most significant source of risk. We … then conduct a series of randomized field experiments to test theories of why product adoption is so low. Insurance …
Persistent link: https://www.econbiz.de/10010283568
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The effects of the saving and banking glut on the US economy
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013
We use a quantitative equilibrium model with houses, collateralized debt, and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one-fourth and one-third of the increase...
Persistent link: https://www.econbiz.de/10010333616
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Tracking and stress-testing U.S. household leverage
Fuster, Andreas; Guttman-Kenney, Benedict; Haughwout, Andrew - 2016
Borrowers' housing equity is an important component of their wealth and a critical determinant of their vulnerability to shocks. In this paper, we create a unique data set that allows us to provide a comprehensive look at the ratio of housing debt to housing values - what we refer to as...
Persistent link: https://www.econbiz.de/10011538017
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How does risk management influence production decisions? Evidence from a field experiment
Cole, Shawn; Giné, Xavier; Vickery, James - 2014
controlled trial involving a sample of Indian farmers to study how an innovative rainfall insurance product affects production … decisions. We find that insurance provision induces farmers - particular ly educated farmers - to shift production toward higher …
Persistent link: https://www.econbiz.de/10011340965
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Borrowers' financial constraints and the transmission of monetary policy: Evidence from financial conglomerations
Ashcraft, Adam B.; Campello, Murillo - 2002
Building on recent evidence concerning the functioning of internal capital markets in financial conglomerates, we conduct a novel test of the balance-sheet channel of monetary policy. Specifically, we investigate how the response of lending to monetary policy differs across small banks that are...
Persistent link: https://www.econbiz.de/10010283413
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Patterns of rainfall insurance participation in rural India
Giné, Xavier; Townsend, Robert; Vickery, James - 2007
This paper describes the contract design and institutional features of an innovative rainfall insurance policy offered … to smallholder farmers in rural India and presents preliminary evidence on the determinants of insurance participation …. Insurance take-up is found to be decreasing in basis risk between insurance payouts and income fluctuations, higher among …
Persistent link: https://www.econbiz.de/10010283430
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Corporate credit provision
Boyarchenko, Nina; Mueller, Philippe - 2019
Productive firms can access credit markets directly by issuing corporate bonds or by borrowing through financial intermediaries. In this paper, we study the cyclical properties of corporate credit provision through these two types of debt instruments in major advanced economies. We argue that...
Persistent link: https://www.econbiz.de/10012144738
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Dealer financial conditions and lender-of-last-resort facilities
Acharya, Viral V.; Fleming, Michael J.; Hrung, Warren B.; … - 2014
We examine the financial conditions of dealers that participated in two of the Federal Reserve's lender-of-last-resort (LOLR) facilities - the Term Securities Lending Facility (TSLF) and the Primary Dealer Credit Facility (PDCF) - that provided liquidity against a range of assets during 2008-09....
Persistent link: https://www.econbiz.de/10011340952
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Bank holding company dividends and repurchases during the financial crisis
Hirtle, Beverly - 2014
Many large U.S. bank holding companies (BHCs) continued to pay dividends during the recent financial crisis, even as financial market conditions deteriorated, large losses accumulated, and emergency capital and liquidity were being provided by the official sector. In contrast, share repurchases...
Persistent link: https://www.econbiz.de/10011340957
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Banks' incentives and the quality of internal risk models
Plosser, Matthew C.; Santos, João A. C. - 2014
This paper investigates the incentives for banks to bias their internally generated risk estimates. We are able to estimate bank biases at the credit level by comparing bank-generated risk estimates within loan syndicates. The biases are positively correlated with measures of regulatory capital,...
Persistent link: https://www.econbiz.de/10011340972