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services, which may be provided by many firms. However, despite the prevalence of structured finance instruments in Europe, the …
Persistent link: https://www.econbiz.de/10011745805
This paper provides evidence for regulatory arbitrage within the class of asset-backed securities (ABS) based on individual asset holding data of German banks. I find that banks operating with tight regulatory constraints exploit the low risk-sensitivity of rating-contingent capital requirements...
Persistent link: https://www.econbiz.de/10011975264
This paper develops a theory of the secondary market trading of financial securitities in which endogenous asset market dynamics generate periods of growing aggregate credit volumes and falling credit standards even in the absence of "financial shocks." Falling credit standards in turn lead to...
Persistent link: https://www.econbiz.de/10011975286
House prices have increased significantly in Canada over the past decade, driving household debt and residential construction activity to historical highs. Although macro-prudential tightening has slowed the pace of household borrowing in the last few years, house prices have continued to trend...
Persistent link: https://www.econbiz.de/10010464985
The Irish banking system has in recent years experienced a large build-up in Non-Performing Loans (NPLs) during the crisis followed by a sharp reduction in the 2013-2017 period. In this article I present a recent history of the ongoing resolution of the mortgage arrears crisis in Ireland. Using...
Persistent link: https://www.econbiz.de/10011848377
-2017. We find that larger entities that already engage in international capital markets are more likely to have derivative … engage in derivative markets. The characteristics of these bank sponsors are important in determining SPEs' engagement in … derivative markets. SPEs' heavy reliance on debt finance coupled with their strong interconnectedness with bank sponsors …
Persistent link: https://www.econbiz.de/10012036028
Persistent link: https://www.econbiz.de/10000423441
Persistent link: https://www.econbiz.de/10000928424
OTC derivative contracts in Europe. Central clearing acts as insurance against counterparty credit risk related to … derivative contracts, and is legally mandated for a specific subset of standardized derivative contracts, with a significant … maturity of the contract and international frictions affect voluntary clearing of different types of derivative contracts in …
Persistent link: https://www.econbiz.de/10011848367
Using large scale EIB Investment Survey evidence for 2016 covering 8,900 non-financial firms from all size and age classes across all sectors and all EU Member States, we identify different innovation profiles based on a firm's R&D investment and/or innovation activities. We find that "basic"...
Persistent link: https://www.econbiz.de/10011900904