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Welfare gains of bailouts in a sovereign default model

Pancrazi, Roberto; Seoane, Hernán D.; Vukotic, Marija - 2019

We examine the welfare effects of bailouts in economies exposed to sovereign default risk. When a government of a small open economy requests a bailout from an international financial institution, it receives a non-defaultable loan of size G that comes with imposed debt limits. The government...

Persistent link: https://www.econbiz.de/10012160653

Financial integration and liquidity crises

Castiglionesi, Fabio; Feriozzi, Fabio; Lorenzoni, Guido - 2017

Persistent link: https://www.econbiz.de/10011659984

Financial Integration and Liquidity Crises

Castiglionesi, Fabio - 2017

allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a world interbank market. We … show under which conditions financial integration induces banks to reduce their liquidity holdings and to shift their … portfolios towards more profitable but less liquid investments. Integration helps reallocate liquidity when different banks are …

Persistent link: https://www.econbiz.de/10012455322

Cheapest-to-deliver pricing, optimal MBS securitization, and welfare implications

Huh, Yesol; Kim, You Suk - In: Journal of financial economics 150 (2023) 1, pp. 68-93

Persistent link: https://www.econbiz.de/10014421126

The Welfare Effects of Liquidity Constraints

Jappelli, Tullio; Pagano, Marco - 2008

We analyze the welfare implications of liquidity constraints for households in an overlapping generations model with … growth. In a closed economy with exogenous technical progress, liquidity constraints reduce welfare if the economy is …

Persistent link: https://www.econbiz.de/10014206580

The Welfare Effects of Liquidity Constraints

Jappelli, Tullio; Pagano, Marco - 2008

Persistent link: https://www.econbiz.de/10014206582

Mortgage lock-in, lifecycle migration, and the welfare effects of housing market liquidity

Gerardi, Kristopher; Qian, Franklin; Zhang, David - 2024

We use a search and matching model to study the heterogeneous welfare effects of housing market illiquidity due to mortgage lock-in over the lifecycle. We find that younger home buyers are disproportionately affected by mortgage lock-in, which disrupts their typical pattern of moving to...

Persistent link: https://www.econbiz.de/10015080986

ESG disclosure and investor welfare under asymmetric information and imperfect competition

Ji, Yucheng; Xu, Weijun; Zhao, Qi; Jia, Zecheng - In: Pacific-Basin finance journal 78 (2023), pp. 1-14

Persistent link: https://www.econbiz.de/10014463805

Liquidity, interest rates and optimal monetary policy

Hörmann, Markus - 2011

Persistent link: https://www.econbiz.de/10009152716

Creditor rights and corporate risk-taking

Acharya, Viral V. (contributor); Amihud, Yakov (contributor) - 2008

Persistent link: https://www.econbiz.de/10003638322