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Miksi Suomi säästyi pankkikriisiltä?
(18.12.2017)
Kansantaloudellinen aikakauskirja 4/2017
Kansantaloudellinen aikakauskirja 4/2017
Suomen pankkikriisi ja sen syventämä suuri lama 1990-luvun alussa on vakavuudessaan opettavainen tarina siitä, miten pankkisektori ja koko talous voi joutua ennakoimattoman suuriin vaikeuksiin yrityssektorin huonon ...
Monetary Policy, Private Debt and Financial Stability Risks
(15.09.2017)
International Journal of Central Banking 3 ; September
International Journal of Central Banking 3 ; September
Can monetary policy be used to promote financial stability? We answer this question by estimating the impact of a monetary policy shock on private-sector leverage and the likelihood of a financial crisis. Impulse responses ...
The Vanishing Interest Income of Chinese Banks
(11.02.2021)
Asian Economic Papers 3
Asian Economic Papers 3
Chinese banks likely have more nonperforming loans (NPLs) than officially reported. Banks’ NPLs often deviate from Benford's law. As hidden NPLs earn no interest income, loan quality problems may erode the gross interest ...
National culture and risk-taking : Evidence from the insurance industry
(02.01.2019)
Journal of Business Research April ; 2019
Journal of Business Research April ; 2019
The gravity of insurance within the financial sector is constantly increasing. Reasonably, after the events of the recent financial turmoil, the domain of research that examines the factors driving the risk-taking of this ...
Can lenders discern managerial ability from luck? Evidence from bank loan contracts
(15.02.2018)
Journal of Banking and Finance February
Journal of Banking and Finance February
We investigate the effect of managerial ability versus luck on bank loan contracting. Borrowers showing a persistently superior managerial ability over previous years (more likely due to ability) enjoy a lower loan spread, ...
Bailouts, franchise value and moral hazard in banking
(15.06.2018)
Singapore Economic Review 3
Singapore Economic Review 3
Policy discussions are dominated by the view that governmental safety nets offered to banks cause moral hazard and encourage risk-taking. However, [Cordella, T and E Levy Yeyati (2003). Bank bailouts: moral hazard vs. value ...
The Risk-Taking Channel of Monetary Policy in the U.S. : Evidence from Corporate Loan Data
(27.01.2017)
Journal of Money, Credit and Banking 1 ; February
Journal of Money, Credit and Banking 1 ; February
To study the presence of a risk-taking channel in the U.S., we build a comprehensive data set from the syndicated corporate loan market and measure monetary policy using different measures, most notably Taylor (1993) and ...
Senior debt and market discipline : Evidence from bank-to-bank loans
(02.01.2019)
Journal of Banking and Finance January ; 2019
Journal of Banking and Finance January ; 2019
We empirically investigate whether taking senior bank loans would enhance market discipline and control risk-taking among borrowing banks. Controlling for endogeneity concern arising from borrowing bank self-select into ...