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On the stability of different financial systems
Fecht, Falko - 2003
Im vorliegenden Papier wird eine Ökonomie modelliert, in der Diamond/ Dybvig- Banken neben einem Finanzmarkt … Anlagemöglichkeiten am Finanzmarkt haben. Ist der Anteil dieser Haushalte vergleichsweise gering, so entsteht ein Finanzsystem, das sich … nicht am sekundären Finanzmarkt partizipieren, handeln private Haushalte sowohl am Primär- als auch am Sekundärmarkt …
Persistent link: https://www.econbiz.de/10011432080
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Optimal lender of last resort policy in different financial systems
Fecht, Falko; Tyrell, Marcel - In: Monetary policy, financial crises, and the macroeconomy …, (pp. 27-57). 2017
Persistent link: https://www.econbiz.de/10011898213
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Variations in market liquidity and the intraday interest rate
Abbassi, Puriya; Fecht, Falko; Tischer, Johannes - In: Journal of money, credit and banking : JMCB 49 (2017) 4, pp. 733-765
Persistent link: https://www.econbiz.de/10011946449
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Banks, markets, and financial stability
Eder, Armin; Fecht, Falko; Pausch, Thilo - 2014
We use a Diamond/Dybvig-based model with two banks operating in separate regions connected by a common asset market in which banks and sophisticated depositors invest. We study the effect of a potential run (crisis) and subsequent fire sales on the asset price in both the crisis and no-crisis...
Persistent link: https://www.econbiz.de/10010433396
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On the role of market makers for money market liquidity and tensions
Fecht, Falko; Reitz, Stefan; Weber, Patrick - 2015
We analyze the trading book of a key market maker in the European unsecured money market and study the extent to which liquidity risks accumulated by this market maker affect his pricing of liquidity and the bid/ask spread he quotes on unsecured borrowing and lending. We find that the larger the...
Persistent link: https://www.econbiz.de/10011382521
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Financial intermediaries, markets, and growth
Fecht, Falko (contributor); Huang, Kevin X. D. (contributor) - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002113104
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Financial intermediaries, markets and growth
Fecht, Falko (contributor); Huang, Kevin X. D. (contributor) - 2005
We build a model in which financial intermediaries provide insurance to households against a liquidity shock. Households can also invest directly on a financial market if they pay a cost. In equilibrium, the ability of intermediaries to share risk is constrained by the market. This can be...
Persistent link: https://www.econbiz.de/10002699405
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Financial intermediaries, markets and growth
Fecht, Falko; Huang, Kevin; Martin, Antoine - 2005
Persistent link: https://www.econbiz.de/10002682284
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On the stability of different financial systems
Fecht, Falko - In: Journal of the European Economic Association 2 (2004) 6, pp. 969-1014
Persistent link: https://www.econbiz.de/10002535010
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Optimal lender of last resort policy in different financial systems
Fecht, Falko; Tyrell, Marcel - 2004
Persistent link: https://www.econbiz.de/10002600339