We re-examine rating shopping and catering among CDOs by replicating a portion of Griffin, Nickerson, and Tang (2013) using post-crisis data. Our results are consistent with continued rating shopping and diminished rating catering behavior after the great financial crisis

Credit Rating Agencies (CRAs) have been a market entity relatively neglected by regulators and commenters, despite the increasing importance they have had in the 20th century financial markets development. Different legal system as United States of America and European Union have both recently...

We study the effect of changes to bank-specific capital requirements on mortgage loan supply with a new loan-level data set containing all mortgages issued in the United Kingdom between 2005 Q2 and 2007 Q2. We find that a rise of a 100 basis points in capital requirements leads to a 5.4% decline...

This paper analyses the impact of Brexit on the European banking system and economy. Using an event-study and difference-in-differences analysis around the Referendum date, we find that the most affected banks are not only in the UK, but also in Southern Europe. Larger UK banks experience a...

As the UK and the EU prepare to start negotiations for Brexit, it is important for both sides to comprehend the full extent of the consequences of this process. In this paper, we employ an agent based simulation framework in order to test for the short-term and long-term effects of Brexit on...

This paper evaluates the impact of Brexit-related uncertainty on the economies of the UK, EU, and the US. We propose a measure of Brexit uncertainty that has not been employed before in the literature. We first construct a binary variable by listing and selecting Brexit-related events according...

Among participants in the global financial market, Brexit is commonly painted as an almost Apocalypse-like scenario. The threat of a British exit from the European Union arguably involves a significant disruption to financial integration in Europe, will threaten the pre-eminence of London as a...

Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...