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Regulation of short-term consumer credits
(08.04.2019)
Journal of Banking Regulation 4 ; December
Journal of Banking Regulation 4 ; December
The regulation of short-term consumer credit markets is heatedly debated around the world. This article uses economic research as a basis for a qualitative assessment of the regulation of the short-term consumer credit ...
Uncertainty shocks and firm creation : Search and monitoring in the credit market
(15.02.2019)
Journal of Economic Dynamics and Control February
Journal of Economic Dynamics and Control February
We develop a business cycle model where endogenous firm creation stems from two credit market frictions. First, entrepreneurs search for a lending relationship with a bank. Second, an optimal debt contract with monitoring ...
What drives discretion in bank lending? : Some evidence and a link to private information
(11.07.2019)
Journal of Banking & Finance September
Journal of Banking & Finance September
We assess the extent to which discretion, unexplained variations in the terms of a loan contract, has varied across time and lending institutions and show that part of this discretion is due to private information that ...
Enforcement of banking regulation and the cost of borrowing
(01.04.2019)
Journal of Banking and Finance April
Journal of Banking and Finance April
We show that borrowing firms benefit substantially from important enforcement actions issued on U.S. banks for safety and soundness reasons. Using hand-collected data on such actions from the main three U.S. regulators and ...
Employee Treatment and Contracting with Bank Lenders : An Instrumental Approach for Stakeholder Management
(15.08.2019)
Journal of Business Ethics 4
Journal of Business Ethics 4
Adopting an instrumental approach for stakeholder management, we focus on two primary stakeholder groups (employees and creditors) to investigate the relationship between employee treatment and loan contracts with banks. ...
The interaction of monetary and macroprudential policies
(17.06.2019)
Journal of Money, Credit and Banking 4 ; June
Journal of Money, Credit and Banking 4 ; June
I analyze a New Keynesian dynamic stochastic general equilibrium (DSGE) model where the financing of productive investment is affected by a moral hazard problem. I solve for jointly Ramsey‐optimal monetary and macroprudential ...
Banking Crisis Prediction with Differenced Relative Credit
(02.12.2019)
Applied Economics Quarterly 4
Applied Economics Quarterly 4
Indicators based on the ratio of credit to GDP have been found to be highly useful predictors of banking crises. Differences in this ratio seem a highly promising early warning indicator. We test a large number of slightly ...
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 ...