Narrow search
Showing 1 - 10 of 98
Cover Image
The Profits to Insider Trading: A Performance-Evaluation Perspective
Metrick, Andrew; Zeckhauser, Richard; Jeng, Leslie A. - National Bureau of Economic Research (NBER) - 1999
This paper estimates the profits to insiders when they trade their company's stock. We construct a rolling purchase portfolio' that holds all shares purchased by insiders over the previous year and an analogous sale portfolio' that holds all shares sold by insiders over the previous year. We...
Persistent link: https://www.econbiz.de/10005720683
Cover Image
Getting Up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide
Gorton, Gary; Metrick, Andrew - In: Journal of Economic Literature 50 (2012) 1, pp. 128-50
All economists should be conversant with "what happened?" during the financial crisis of 2007-09. We select and summarize sixteen documents, including academic papers and reports from regulatory and international agencies. This reading list covers the key facts and mechanisms in the build-up of...
Persistent link: https://www.econbiz.de/10010815448
Cover Image
The Federal Reserve and Panic Prevention: The Roles of Financial Regulation and Lender of Last Resort
Gorton, Gary; Metrick, Andrew - In: Journal of Economic Perspectives 27 (2013) 4, pp. 45-64
This paper surveys the role of the Federal Reserve within the financial regulatory system, with particular attention to the interaction of the Fed's role as both a supervisor and a lender-of-last-resort. The institutional design of the Federal Reserve System was aimed at preventing banking...
Persistent link: https://www.econbiz.de/10010711301
Cover Image
The Federal Reserve's Financial Crisis Response C : Providing US Dollars to Foreign Central Banks
Wiggins, Rosalind - 2016
The financial crisis that began in late 2007 with the decline in the United States (U.S.) subprime mortgage markets, quickly spread to other markets and eventually disrupted the interbank funding markets in the U.S. as well as overseas. To address the strain in the U.S. dollar (USD) funding...
Persistent link: https://www.econbiz.de/10013000249
Cover Image
The Federal Reserve's Financial Crisis Response A : Lending & Credit Programs for Depository Institutions
Wiggins, Rosalind - 2016
Beginning in the summer 2007 the Federal Reserve (the Fed) was called upon to address a severe disruption in the interbank lending markets sparked by a downturn in the subprime mortgage market. As these developments began to impact the ability of banks to raise adequate funding, the Fed...
Persistent link: https://www.econbiz.de/10013000261
Cover Image
Guarantees and Capital Infusions in Response to Financial Crises A : Haircuts and Resolutions
Rhee, June - 2016
After the mortgage market meltdown in mid-2007 and during the financial crisis in 2008, major financial institutions around the world were on the verge of collapsing one after another. Faced with these troubles, the government had to respond quickly to contain the crisis as efficiently as...
Persistent link: https://www.econbiz.de/10013000280
Cover Image
Price versus Quantity: Market Clearing Mechanisms When Sellers Differ in Quality
Metrick, Andrew; Zeckhauser, Richard - National Bureau of Economic Research (NBER) - 1996
higher quality secures the producer both higher price and higher quantity; if marginal costs are rising, having a higher … quality assures only higher price. If only some consumers can discern quality but others cannot, then high- and low …-quality producers may set a common price, but the high-quality producer will sell more. In this context, quality begets quantity …
Persistent link: https://www.econbiz.de/10005830705
Cover Image
European Banking Union A: The Single Supervisory Mechanism
Wiggins, Rosalind Z.; Wedow, Michael; Metrick, Andrew - School of Management, Yale University - 2014
At the peak of the Global Financial Crisis in fall 2008, each of the 27 member states in the European Union (EU) set many of its own banking rules and had its own bank regulators and supervisors. The crisis made the shortcomings of this decentralized approach obvious, and since its formation in...
Persistent link: https://www.econbiz.de/10011269021
Cover Image
The Lehman Brothers Bankruptcy E: The Effect on Lehman’s U.S. Broker-Dealer
Wiggins, Rosalind Z.; Metrick, Andrew - School of Management, Yale University - 2014
Lehman’s U.S. broker-dealer, Lehman Brothers Inc. (LBI), was excluded from the parent company’s bankruptcy filing on September 15, 2008, because it was thought that the solvent subsidiary might be able to wind down its affairs in a normal fashion. However, the force of the parent’s demise...
Persistent link: https://www.econbiz.de/10011269022
Cover Image
The Lehman Brothers Bankruptcy A: Overview
Wiggins, Rosalind Z.; Piontek, Thomas; Metrick, Andrew - School of Management, Yale University - 2014
On September 15, 2008, Lehman Brothers Holdings, Inc., the fourth-largest U.S. investment bank, sought Chapter 11 protection, initiating the largest bankruptcy proceeding in U.S. history. The demise of the 164-year old firm was a seminal event in the global financial crisis. Under the direction...
Persistent link: https://www.econbiz.de/10011269023