Narrow search
Showing 1 - 10 of 78
Cover Image
A theory of income smoothing when insiders know more than outsiders
Acharya, Viral V.; Lambrecht, Bart M. - 2012
Persistent link: https://www.econbiz.de/10009502470
Cover Image
Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent Seeking and Risk Shifting
Acharya, Viral V. - 2015
against the benefit of equity in attenuating risk-shifting. However, faced with socially-costly correlated bank failures …, regulators bail out creditors. Anticipation of this generates multiple equilibria, including one with systemic risk in which …
Persistent link: https://www.econbiz.de/10013038182
Cover Image
Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent-Seeking and Risk-Shifting
Acharya, Viral V. - 2015
against the benefit of equity in attenuating risk-shifting. However, faced with socially-costly correlated bank failures …, regulators bail out creditors. Anticipation of this generates multiple equilibria, including one with systemic risk in which …
Persistent link: https://www.econbiz.de/10013038378
Cover Image
Online Appendix of 'The Seeds of a Crisis : A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle'
Naqvi, Hassan - 2011
Persistent link: https://www.econbiz.de/10013132823
Cover Image
A Model of Liquidity Hoarding and Term Premia in Inter-Bank Markets
Acharya, Viral V. - 2011
turn, banks hoard liquidity and decrease term lending as their rollover risk increases over the term of the loan. High …
Persistent link: https://www.econbiz.de/10013124372
Cover Image
Credit Lines as Monitored Liquidity Insurance : Theory and Evidence
Ippolito, Filippo - 2012
-seeking behavior by firms. Firms with high liquidity risk are likely to use cash rather than credit lines for liquidity management … because the cost of monitored liquidity insurance increases with liquidity risk. We exploit a quasi-experiment around the … downgrade of General Motors (GM) and Ford in 2005 and find that firms that experienced an exogenous increase in liquidity risk …
Persistent link: https://www.econbiz.de/10013105297
Cover Image
Counterparty Risk Externality : Centralized Versus Over-The-Counter Markets
Acharya, Viral V. - 2010
derivatives trade – appears to have played a central role in the ongoing financial crisis. We model such OTC markets for risk … that lead to levels of default risk that are higher than Pareto-efficient ones. In particular, OTC markets feature a … counterparty risk externality that we show can lead to ex-ante productive inefficiency. This externality is absent when trading is …
Persistent link: https://www.econbiz.de/10013146606
Cover Image
Crisis Resolution and Bank Liquidity
Acharya, Viral V. - 2010
What is the effect of financial crises and their resolution on banks' choice of liquidity? When banks have relative expertise in employing risky assets, the market for these assets clears only at fire-sale prices following a large number of bank failures. The gains from acquiring assets at...
Persistent link: https://www.econbiz.de/10013148772
Cover Image
Crisis Resolution and Bank Liquidity
Acharya, Viral V. - 2010
What is the effect of financial crises and their resolution on banks' choice of liquid asset holdings? When risky assets have limited pledgeability and banks have relative expertise in employing risky assets, the market for these assets clears only at fire-sale prices following a large number of...
Persistent link: https://www.econbiz.de/10013149978
Cover Image
Credit Lines as Monitored Liquidity Insurance : Theory and Evidence
Acharya, Viral V. - 2013
-seeking behavior by firms. Firms with high liquidity risk are likely to use cash rather than credit lines for liquidity management … because the cost of monitored liquidity insurance increases with liquidity risk. We exploit a quasi-experiment around the … downgrade of General Motors (GM) and Ford in 2005 and find that firms that experienced an exogenous increase in liquidity risk …
Persistent link: https://www.econbiz.de/10013085123