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The Entrepreneurial Adjustment Process in Disequilibrium
Burke, Andrew; Stel, André van - Tinbergen Institute - 2009
The main contribution of entrepreneurship theory to economics is to provide an account of market performance in disequilibrium but little empirical research has examined firm entry and exit in this context. We redress this by modelling the interrelationship between firm entry and exit in...
Persistent link: https://www.econbiz.de/10005144562
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Industry Dynamics and Entrepreneurship: An Equilibrium Model
Fok, Dennis; Stel, Andre van; Burke, Andrew; Thurik, Roy - Tinbergen Institute - 2010
This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics. The benefit of our model is twofold. First, to discriminate between entrants’ role of performing the entrepreneurial function of creating disequilibrium and the conventional...
Persistent link: https://www.econbiz.de/10008513242
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Industry Dynamics and Entrepreneurship: An Equilibrium Model
Fok, Dennis; Stel, Andre van; Burke, Andrew; Thurik, Roy - Tinbergen Instituut - 2010
This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics. The benefit of our model is twofold. First, to discriminate between entrants’ role of performing the entrepreneurial function of creating disequilibrium and the conventional...
Persistent link: https://www.econbiz.de/10011256603
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The Entrepreneurial Adjustment Process in Disequilibrium
Burke, Andrew; Stel, André van - Tinbergen Instituut - 2009
The main contribution of entrepreneurship theory to economics is to provide an account of market performance in disequilibrium but little empirical research has examined firm entry and exit in this context. We redress this by modelling the interrelationship between firm entry and exit in...
Persistent link: https://www.econbiz.de/10011257442
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Will Islamic Banking make the World less risky? An Empirical Analysis of Capital Structure, Risk Shifting and Financial Stability
Farooq, Moazzam; Wijnbergen, Sweder van; Zaheer, Sajjad - Tinbergen Instituut - 2015
-fledged Islamic banks (IBs) are indeed more stable than conventional banking institutions (CBIs), and are better capitalized than … loss provisioning. Similar results obtain for Islamic windows of mixed banks compared with conventional windows. The … analysis suggests that the loss absorption capacity of Islamic banks leads to less risk taking and a more stable banking system. …
Persistent link: https://www.econbiz.de/10011272595
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Will Islamic Banking make the World less risky? An Empirical Analysis of Capital Structure, Risk Shifting and Financial Stability
Farooq, Moazzam; Wijnbergen, Sweder van; Zaheer, Sajjad - Tinbergen Instituut - 2015
-fledged Islamic banks (IBs) are indeed more stable than conventional banking institutions (CBIs), and are better capitalized than … loss provisioning. Similar results obtain for Islamic windows of mixed banks compared with conventional windows. The … analysis suggests that the loss absorption capacity of Islamic banks leads to less risk taking and a more stable banking system. …
Persistent link: https://www.econbiz.de/10011275100
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State Aid and Bank Intervention: The ING Illiquid Assets Back-up Facility (IABF)
Wijnbergen, Sweder van; Treur, Leontine - Tinbergen Instituut - 2011
The ING Illiquid Assets Back-up Facility announced January 2009 was a SWAP-based insurance to reduce ING’s exposure to Alt-A related risk. Did the deal involve state aid? Usingmarketprices to evaluate the SWAP directly is impossible because markets for Alt-A based CDOs had collapsed. We...
Persistent link: https://www.econbiz.de/10011255729
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Cocos, Contagion and Systemic Risk
Chan, Stephanie; Wijnbergen, Sweder van - Tinbergen Instituut - 2014
CoCo’s (contingent convertible capital) are designed to convert from debt to equity when banks need it most. Using a … on other banks in the system in the likely case of correlated asset returns, so bank runs elsewhere in the banking system …
Persistent link: https://www.econbiz.de/10011255852
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The Political Economy of Financial Systems
Haber, Stephen; Perotti, Enrico - Tinbergen Instituut - 2008
This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...
Persistent link: https://www.econbiz.de/10011255875
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The Political Economy of Financial Fragility
Feijen, Erik; Perotti, Enrico - Tinbergen Instituut - 2005
While financial liberalization has in general favorable effects, reforms in countries with poor regulation is often followed by financial crises. We explain this variation as the outcome of lobbying interests capturing the reform process. Even after liberalization, market investors must rely on...
Persistent link: https://www.econbiz.de/10011255930