This paper presents a formal analysis of the effects of asset backed securisation on the capital composition of banking institutions. A model of a banking firm is presented that highlights the interrelationship between deposit insurance, capital requirements and securitisation.

This paper provides an introduction to a form of financial innovation which is the relatively recent phenomenon of asset backed securisation (ABS). An overview of the related issues and importance of this trend towards asset backed securisation in the UK by financial institutions is provided....

In this paper we develop the case for the creation of a single financial supervisory and regulatory authority for the Russian Federation. This case is based on three criteria: (a) it enables economies of scope to be exploite (b) it ensures regulatory parity (c) it satisfies prudential logic.

We often assume that researchers and decision-makers are rational beings reliant on hard data to determine the best policy. But individuals are also influenced by their experiences with their physical and social environments. How they perceive and interact with their environment is also...

Professional plumbers play an essential role in the implementation of water efficiency. If North America is to achieve high water efficiency standards and more ambitious plumbing codes, plumbers will need to be actively included in the water efficiency discussion. Repositioning the industry will...

Recent research has separately uncovered that stock ownership strongly correlates with both expectations and realizations of stock market returns, as well as with measures of financial literacy, ability or trust. This paper reconciles all, and reports new findings from a unique survey containing...

Do elementary statistics or equilibrium theory deliver any rules of thumb regarding how we should argue in debates? We suggest a framework for normative analysis of debates. In our framework, each discussant wants the audience to believe that the actual state coincides with the discussant's...