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Models of financial stability and their application in stress tests

Aymanns, Christoph; Farmer, J. Doyne; Kleinnijenhuis, … - 2017

We review heterogeneous agent-based models of financial stability and their application in stress tests. In contrast to the mainstream approach, which relies heavily on the rational expectations assumption and focuses on situations where it is possible to compute an equilibrium, this approach...

Persistent link: https://www.econbiz.de/10011906282

Central clearing and systemic liquidity risk

King, Thomas B.; Nesmith, Travis D.; Paulson, Anna Louise; … - 2019

By stepping between bilateral counterparties, a central counterparty (CCP) transforms credit exposure. CCPs generally improve financial stability. Nevertheless, large CCPs are by nature concentrated and interconnected with major global banks. Moreover, although they mitigate credit risk, CCPs...

Persistent link: https://www.econbiz.de/10012130105

The rents of banking : a public choice approach to bank regulation

Buck, Florian Christopher - 2015

The rise of a crisis-prone banking sector and its political power has received significant attention following the most recent financial crisis. The crisis sparked a growing interest in understanding how and why we have created a world of large, unstable banks. Excessive banking activity arose...

Persistent link: https://www.econbiz.de/10011742914

Financial system architecture and the patterns of international trade

Amissah, Emmanuel Bentum; Bougheas, Spiros P.; Defever, … - 2016

Countries differ on the extent to which their financial system relies on banks or on the financial market. We offer a model featuring a possible two way relationship between countries' financial system architecture and their comparative advantage. Countries specialising in bank dependent sectors...

Persistent link: https://www.econbiz.de/10011492076

Cooperative credit banks and economic fluctuations : the Italian case

Caporale, Guglielmo Maria; Alessi, Matteo - 2024

This paper analyses lending behaviour and economic fluctuations in the Italian banking system as a whole and in the case of the Cooperative Credit Banks (CCBs) using time series data from 2000Q1 to 2022Q4. The specified models include the main determinants of loans to households and firms. In...

Persistent link: https://www.econbiz.de/10014478293

African stock market performance dynamics : a multidimensional convergence assessment

Asongu, Simplice A. - 2012

This paper dissects with great acuteness, the issues of convergence in financial performance dynamics in the African … (Christianity and Islam). Findings provide partial support for the existence of absolute convergence in some dynamics. Only sub …-Saharan Africa reveals conditional convergence in relation to per capita number of listed companies. The speed of convergence for the …

Persistent link: https://www.econbiz.de/10011410266

Is financial globalization in reverse after the 2008 global financial crisis? : evidence from corporate valuations

Doidge, Craig; Karolyi, G. Andrew; Stulz, René M. - 2020

For the last two decades, non-US firms have lower valuations than similar US firms. We study the evolution of this valuation gap to assess whether financial markets are less integrated after the 2008 global financial crisis (GFC). The valuation gap for firms from developed markets increases by...

Persistent link: https://www.econbiz.de/10012216663

Fundamentals matter : idiosyncratic shocks and interbank relations

Bednarek, Peter; Dinger, Valeriya; Westernhagen, Natalja von - 2015

Our results uncover a so far undocumented ability of the interbank market to distinguish between banks of different quality in times of aggregate distress. We show empirical evidence that during the 2007 financial crisis the inability of some banks to roll over their interbank debt was not due...

Persistent link: https://www.econbiz.de/10011414244

Financial Sector Legislative Reforms Commission (FSLRC) & financial sector regulation in India

Bhagwati, Jaimini; Khan, M. Shuheb; Bogathi, … - 2016

The Financial Sector Reforms Commission (FSLRC) which was set up in 2011 by the Ministry of Finance was mandated to study existing legislation and financial sector regulatory practices in India and to propose improvements. The FSLRC submitted its report in 2013 and four of its members recorded...

Persistent link: https://www.econbiz.de/10011483647

Relationship lending in the interbank market and the price of liquidity

Bräuning, Falk; Fecht, Falko - 2016 - This version: July 14, 2016

We empirically investigate the effect that relationship lending has on the availability and pricing of interbank liquidity. Our analysis is based on a daily panel of unsecured overnight loans between 1,079 distinct German bank pairs from March 2006 to November 2007, a period that includes the...

Persistent link: https://www.econbiz.de/10011523828

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