Recently, there have been several government initiatives pointing to the electronisation of the voucher market, some of which have already reached the phase of implementation. In the interests of implementation at the society level which is efficient from technical as well as ‘business’...

We estimate time series of option implied Probabilities of Default (PoDs) for 19 major US financial institutions from 2002 to 2012. These PoDs are estimated as mass points of entropy based risk neutral densities and subsequently corrected for maturity dependence. The ob- tained time series are...

Mortgage payment protection insurance (hereafter MPPI) provides varying combinations of accident, sickness and unemployment insurance and is used to protect the mortgage payments of policyholders in the event of a fall in income. Recently the provision of this service in the UK has been heavily...

The aim of this work is to study the degree of efficiency achieved by foreign banks installed in Spain between 2000 - 2020 throu gh 2 non - parametric models, one static, the data envelopment analysis (DEA), and another dynamic, the Malmquist Productivity Index (MPI). The results of DEA model...

Financial inclusion, for which the keystone is access to a bank account, is crucial to overcome the socioeconomic backwardness of African countries and to improve the African societies' well-being. The study concentrates on this continent to better understand the nature of its development in...

Aunque la crisis global condujo a la emergencia de nuevos hechos estilizados, y al uso de técnicas y herramientas provenientes de o tras disciplinas, no desencadenó una crisis del programa de investigación dominante en la macroeconomía financiera. Este artículo intenta explicar por qué los...

Rotating Savings and Credit Associations (ROSCAs) are a common informal saving method recognized as a social protection system that can be used to deal with the monetary consequences of different types of economic shocks. This paper tests the hypothesis that current participation in ROSCAs will...

En este trabajo se proponen dos tipos de contratos para los préstamos interbancarios con el fin de que los bancos suavicen sus choques de liquidez a través del mercado interbancario. En particular, se estudia la situación en la que los bancos con faltantes de liquidez que tienen bajo riesgo...

Se estima la elasticidad de las exportaciones y de las importaciones al crédito otorgado por la banca comercial usando información cruzada a nivel de firma en Colombia. Replicando la metodología empírica de Paravisini et. al (2011), se encontró que una reducción del crédito en 10% reduce...

La acentuada preferencia de la población por efectivo para realizar sus compras ha motivado diversos estudios con el propósito de establecer cuáles son los principales determinantes de las decisiones de los agentes sobre los instrumentos de pago que usan en sus transacciones. Este documento...