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This paper evaluates the effects of binding regulatory restraints on the rate of performance-based management compensation within a banking framework in which the primary function of bank management teams is to monitor loans in order to eliminate deadweight default losses. Available management...
Persistent link: https://www.econbiz.de/10013129159
Since passage of the Economic Stabilization Act of 2008, the government has been explicitly and implicitly regulating the compensation of top managers at a number of U.S. banks. In addition, bank regulators have added evaluations of bank management compensation packages to the list of factors...
Persistent link: https://www.econbiz.de/10013139012
Models of wage indexation uniformly have been based on the simplifying assumption that nominal wages adjust upward or downward symmetrically with unexpected price increases or decreases. Indexation typically is asymmetric in actual contracts, however. Wages are indexed to price increases but not...
Persistent link: https://www.econbiz.de/10013105615
We propose a theory of 'regulatory endogenous sunk costs' (RESC), in which a captured regulator raises minimum quality standards when market size increases in order to protect incumbent firms. Our RESC theory's predictions that market size is unrelated to industry concentration and positively...
Persistent link: https://www.econbiz.de/10013065684
This paper reviews what economists have learned about Internet banking. The paper begins by surveying evidence regarding the fundamental motivations for banks to offer services via the Internet and for their customers to utilize the services. It considers the experience of and future prospects...
Persistent link: https://www.econbiz.de/10013070447
This paper presents a dynamic model of a bank's optimal choices of imposing a binding liquidity-coverage-ratio (LCR) constraint. Our baseline balance-sheet dynamics starts with portfolio separation and no LCR constraint. Under a scenario in which regulators prohibit banks from applying...
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