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Switching costs and financial stability
(04.03.2019)
Journal of Financial Stability April
Journal of Financial Stability April
We establish that the effect of intensified deposit market competition, measured by reduced switching costs, on the probability of bank failures depends critically on whether we focus on competition with established customer ...
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 ...
What Can We Learn from the Real Bills Doctrine?
(15.01.2019)
Credit and Capital Markets 1
Credit and Capital Markets 1
The historical development of bank liquidity doctrines is surveyed from the real bills doctrine and its antecedents to the present day. The underlying ideas of the succession of several dominant liquidity doctrines are ...
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 ...
A short note on the net stable funding ratio requirement with endogenous money
(17.08.2016)
Economic Notes 1 ; February
Economic Notes 1 ; February
The Net Stable Funding Ratio (NSFR) regulation stipulates that banks’ available stable funding shall be at least equal to the required stable funding. This should reduce banks’ liquidity risks. In the current monetary ...
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 ...
Determinants of Bank Closures : Do Levels or Changes of CAMEL Variables Matter?
(15.06.2018)
Russian Journal of Money and Finance 2 ; 2018
Russian Journal of Money and Finance 2 ; 2018
This study examines the role of levels and changes in bank balance sheet variables in explaining bank closure. Using a unique set of monthly bank-level panel data from Russia, we estimate determinants of bank license ...
Do Banks Learn from Financial Crisis? The Experience of Nordic Banks
(02.01.2019)
Research in International Business and Finance January ; 2019
Research in International Business and Finance January ; 2019
Using a large panel data set of Nordic (Finland, Norway and Sweden) and European banks for the period 1994–2010, we study whether banks can retain their lessons from the experience of a severe financial crisis. Our key ...
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 ...
Does it pay to get connected? An examination of bank alliance network and bond spread
(08.01.2018)
Journal of Economics and Business January-February
Journal of Economics and Business January-February
This paper examines the effects of bank alliance network on bonds issued by European banks during the period 1990–2009. We construct six measures capturing different dimensions of banks’ network characteristics. In opposition ...