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Contagion and the beginning of the crisis - Pre-Lehman period
Király, Júlia; Nagy, Márton; Szabó, Viktor E. - 2008
analysis of the channel of contagion within financial integration: a confidence crisis, coupled with turbulence in the …
Persistent link: https://www.econbiz.de/10010322410
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Financial intermediation theory and implications for the sources of value in structured finance markets
Mitchell, Janet - 2005
Structured finance instruments represent a form of securitization technology which can be defined by the … securitization, in order to identify the economic forces underlying the creation of SF instruments. A question addressed is under … what circumstances one would expect to observe pooling alone (as with traditional securitization) versus pooling and …
Persistent link: https://www.econbiz.de/10011506593
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Market discipline across bank governance models: Empirical evidence from German depositors
Arnold, Eva A.; Größl, Ingrid; Koziol, Philipp - 2015
German savers are renowned for preferring safe, long-term investments, thus providing patient capital, with bank deposits playing an important role. Using a comprehensive data set for the German banking sector, we examine whether German depositors are really that patient, abstaining from any...
Persistent link: https://www.econbiz.de/10011286343
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Market discipline across bank governance models: Empirical evidence from German depositors
Arnold, Eva A.; Größl, Ingrid; Koziol, Philipp - 2015
German savers are renowned for preferring safe, long-term investments, thus providing patient capital, with bank deposits playing an important role. Using a unique data set provided by the Deutsche Bundesbank for German banks, we examine whether German depositors are really that patient,...
Persistent link: https://www.econbiz.de/10011341023
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Asymmetric information and roll-over risk
König, Philipp; Pothier, David - 2014
How do banks choose their debt maturity structure when credit markets are subject to information frictions? This paper proposes a model of equilibrium maturity choice with asymmetric information and endogenous roll-over risk. We show that in the presence of public signals about firms'...
Persistent link: https://www.econbiz.de/10010332848
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The Causes of the Financial Crisis
Hellwig, Martin - In: CESifo Forum 09 (2008) 4, pp. 12-21
Persistent link: https://www.econbiz.de/10011695908
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The Real Effects of Private Equity Buyouts
Tåg, Joacim - 2010
Private equity buyouts have become a common element in the industrial development process. I survey the literature on the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to marginally fall after a buyout in most countries studied, with...
Persistent link: https://www.econbiz.de/10010320213
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A financial systemic stress index for Greece
Louzis, Dimitrios; Vouldis, Angelos - 2013
The paper develops a financial systemic stress index (FSSI) for Greece. We present a methodology for constructing and evaluating a systemic stress index which: i) adopts the suggestion of Hollo et al. (2012) [Hollo, Kremer, and Lo Duca (2012) “CISS – A Composite Indicator of Systemic Stress...
Persistent link: https://www.econbiz.de/10011605608
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A leverage-based measure of financial instability
Tepper, Alexander; Borowiecki, Karol Jan - 2014
We employ a model of leverage-induced explosive behavior in financial markets to develop a measure of financial market instability. Specifically, we derive a quantitative condition for how large levered investors can become relative to the whole market before the demand curve for securities...
Persistent link: https://www.econbiz.de/10011341018
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A financial systemic stress index for Romania
Draghia, Andreea; Ștefoni, Sorina Emanuela - In: Financial Studies 24 (2020) 3 (89), pp. 41-50
Detecting and measuring financial stress and its systemic risk channels have been one of the main concerns for authorities and financial supervisors especially after the financial crisis from 2008. In this paper, we aim to build a financial stress index (FSI) for Romania using monthly data from...
Persistent link: https://www.econbiz.de/10012484806