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A Model of Shadow Banking
Gennaioli, Nicola - 2012
We present a model of shadow banking in which banks originate and trade loans, assemble them into diversified portfolios, and finance these portfolios externally with riskless debt. In this model: outside investor wealth drives the demand for riskless debt and indirectly for securitization, bank...
Persistent link: https://www.econbiz.de/10013106906
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The failure of judges and the rise of regulators
Shleifer, Andrei - 2012
Persistent link: https://www.econbiz.de/10009711613
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Litigation and Regulation
Schwartzstein, Joshua; Shleifer, Andrei - 2009
We ask whether regulation can usefully supplement litigation in a model of optimal social control of harmful …. We show that regulation can, in some circumstances, improve resource allocation. Regulatory preemption of litigation may …
Persistent link: https://www.econbiz.de/10014210429
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Efficient regulation
Shleifer, Andrei - 2010
Persistent link: https://www.econbiz.de/10003925260
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Efficient regulation
Shleifer, Andrei - In: Regulation versus litigation : perspectives from …, (pp. 27-43). 2011
Persistent link: https://www.econbiz.de/10009236135
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Efficient Regulation
Shleifer, Andrei - 2010
Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather … uncommon. I argue that the ubiquity of regulation is explained not so much by the failure of markets, or by asymmetric … accounts for the ubiquity of regulation, for its growth over time, as well as for the fact that contracts themselves are …
Persistent link: https://www.econbiz.de/10013148865
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Efficient Regulation
Shleifer, Andrei - 2010
Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather … uncommon. I argue that the ubiquity of regulation is explained not so much by the failure of markets, or by asymmetric … accounts for the ubiquity of regulation, for its growth over time, as well as for the fact that contracts themselves are …
Persistent link: https://www.econbiz.de/10012462999
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Efficient Regulation
Shleifer, Andrei - 2010
Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather … uncommon. I argue that the ubiquity of regulation is explained not so much by the failure of markets, or by asymmetric … accounts for the ubiquity of regulation, for its growth over time, as well as for the fact that contracts themselves are …
Persistent link: https://www.econbiz.de/10014199292
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Unstable banking
Shleifer, Andrei; Vishny, Robert W. - In: Journal of financial economics 97 (2010) 3, pp. 306-318
Persistent link: https://www.econbiz.de/10008660558
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A model of shadow banking
Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert W. - 2011
"We present a model of shadow banking in which financial intermediaries originate and trade loans, assemble these loans into diversified portfolios, and then finance these portfolios externally with riskless debt. In this model: i) outside investor wealth drives the demand for riskless debt and...
Persistent link: https://www.econbiz.de/10009158793