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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 ...
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 ...
Social Capital and Debt Contracting : Evidence from Bank Loans and Public Bonds
(03.05.2017)
Journal of Financial and Quantitative Analysis 3; June
Journal of Financial and Quantitative Analysis 3; June
We find that firms headquartered in U.S. counties with higher levels of social capital incur lower bank loan spreads. This finding is robust to using organ donation as an alternative social capital measure and incremental ...