Similar Search Results

Koeppl, Thorsten V.; Monnet, Cyril - 2004

Exchanges and other trading platforms are often vertically integrated to carry out trading, clearing and settlement as one operation. We show that such vertical silos can prevent efficiency gains from horizontal consolidation of trading and settlement platforms to be realized. Independent of the...

Persistent link: https://www.econbiz.de/10009639429

Mergers and acquisitions and bank performance in Europe

Altunbas, Yener - Marqués-Ibáñez, David - 2004

acquisitions (M&As), differences of merging partners in their loan and credit risk strategies are conducive to a higher performance …

Persistent link: https://www.econbiz.de/10009639458

Banking consolidation and small business lending

Takáts, Előd - 2004

The paper investigates small business lending as an information problem. It models the effects of information asymmetries within the bank combined with fixed wages. Two kinds of inefficiencies arise in equilibrium: the credit officer either sometimes shirks or he is occasionally fired. In both...

Persistent link: https://www.econbiz.de/10009639467

Interbank market integration, loan rates, and firm leverage

Ongena, Steven; Popov, Alexander - 2010

We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...

Persistent link: https://www.econbiz.de/10009640288

Optimal dynamic risk sharing when enforcement is a decision variable

Koeppl, Thorsten V. - 2003

decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions … prevent ﬁrst-best risk sharing, but never optimal to provide incentives exclusively via this technology. Commitment problems …

Persistent link: https://www.econbiz.de/10009635888

Growth expectations, capital flows and international risk sharing

Castrén, Olli; Miller, Marcus; Stiegert, Roger - 2003

international equity transactions that accentuate the role of international risk sharing as a factor for the macroeconomic response … shock affecting only one country. Efficient global risk-sharing imply that expected productivity gains in one country will … for the productivity gains can further increase the risk exposure of foreign shareholders. The model is calibrated to show …

Persistent link: https://www.econbiz.de/10009635970

Late lessons from early warnings

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

This report is about gathering information on the hazards raised by human economic activities and its use in taking action to protect better the environment and the health of the species and ecosystems that are dependent on it. The study aims to contribute to better and more accessible...

Persistent link: https://www.econbiz.de/10009635974

Späte Lehren aus frühen Warnungen

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

Persistent link: https://www.econbiz.de/10009636105

Signaux précoces et leçons tardives

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

Persistent link: https://www.econbiz.de/10009636106

Risk sharing through financial markets with endogenous enforcement of trades

Köppl, Thorsten V. - 2004

When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are … an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved … allow for optimal risk sharing as long as markets are complete, default is prevented in equilibrium and intermediaries …

Persistent link: https://www.econbiz.de/10009636542