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Gourinchas, Pierre-Olivier - 2014

Will the world run out of 'safe assets' and what would be the consequences on global financial stability? We argue that in a world with competing private stores of value, the global economic system tends to favor the riskiest ones. Privately produced stores of value cannot provide sufficient...

Persistent link: https://www.econbiz.de/10013064183

Complexity-Driven Origins of Core Intertemporal Choice Anomalies : Experimental Evidence and Implications for Behavioral Economics

Koch, Dr. Benjamin - 2023

This study presents compelling experimental evidence indicating that the core intertemporal choice anomalies, encompassing extreme short-run impatience, present bias, hyperbolicity, and transitivity violations, are primarily attributable to complexity rather than time or risk preferences....

Persistent link: https://www.econbiz.de/10014353104

Prepayment Penalties : Efficiency and Predation

Rose, Morgan J. - 2012

consistent with an efficiency view arguing that, by reducing the reclassification risk faced by lenders, prepayment penalties can …, but the efficiency view dominates the predatory view in most circumstances. State anti-predatory lending laws restricting …

Persistent link: https://www.econbiz.de/10013113897

Inefficient Diversification

Bimpikis, Kostas - 2013

This paper argues that in the presence of liquidation costs, portfolio diversification by financial institutions may be socially inefficient. We propose a stylized model in which individual banks have an incentive to hold diversified portfolios. Yet, at the same time, diversification may...

Persistent link: https://www.econbiz.de/10013088837

Inefficient Liquidity Creation

Luck, Stephan - 2019

We present a model in which intermediaries create liquidity by issuing safe debt. There are two types of intermediaries: Traditional banks create liquidity by issuing equity and holding assets to maturity. In contrast, market-based intermediaries create liquidity by selling assets in fire sales...

Persistent link: https://www.econbiz.de/10012900115

The New Mechanisms of Market Inefficiency

Judge, Kathryn - 2019

Persistent link: https://www.econbiz.de/10012861956

Efficiency, Growth and Market Power in the Banking Industry : New Approach to Efficient Structure Hypothesis

Qureshi, Fiza - 2022

efficient structure (ES) hypothesis. In this framework, we test causality from cost efficiency to bank growth and then from bank … the period of 1999–2014. The efficiency scores have been estimated by employing Slack Based Measurements Data Envelopment … account for endogeneity in estimation models. The results show that cost efficiency enables the banks to grow and obtain …

Persistent link: https://www.econbiz.de/10013492427

Savings, Efficiency and the Nature of Bank Runs

Leonello, Agnese; Mendicino, Caterina; Panetti, Ettore; … - 2022

Does the level of deposits matter for bank fragility and efficiency? In a banking model with endogenous bank runs and a …

Persistent link: https://www.econbiz.de/10013308564

Financial Contagion and the Real Economy

Baur, Dirk G. - 2010

The global financial crisis of 2008 was a crisis affecting both the financial sector and the “real economy.” This paper analyzes the transmission of unexpected shocks from the financial sector in the US to other countries and sectors. We test the hypothesis that the financial crisis spread...

Persistent link: https://www.econbiz.de/10013138715

Financial Contagion and the Real Economy

Baur, Dirk G. - 2010

This paper analyzes the incidences of sector-specific contagion during the Global Financial Crisis of 2007-2009. The empirical analysis comprising ten sectors in 25 major developed and emerging stock markets shows that the crisis led to an increased co-movement of returns and thus contagion...

Persistent link: https://www.econbiz.de/10013139246

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