|
|
|
| Registros recuperados: 37 | |
|
|
| Hart, Oliver; Zingales, Luigi. |
| We design a new, implementable capital requirement for large financial institutions (LFIs) that are too big to fail. Our mechanism mimics the operation of margin accounts. To ensure that LFIs do not default on either their deposits or their derivative contracts, we require that they maintain an equity cushion sufficiently great that their own credit default swap price stays below a threshold level, and a cushion of long term bonds sufficiently large that, even if the equity is wiped out, the systemically relevant obligations are safe. If the CDS price goes above the threshold, the LFI regulator forces the LFI to issue equity until the CDS price moves back down. If this does not happen within a predetermined period of time, the regulator intervenes. We show... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Banks; Capital Requirement; Too Big to Fail; Financial Economics; G21; G28. |
| Ano: 2009 |
URL: http://purl.umn.edu/56220 |
| |
|
| |
|
| |
|
| |
|
|
| Leblois, Antoine; Quirion, Philippe. |
| In many low-income countries, agriculture is mostly rain-fed and yields highly depend on climatic factors. Furthermore, farmers have little access to traditional crop insurance, which suffers from high information asymmetry and transaction costs. Insurances based on meteorological indices could fill this gap since they do not face such drawbacks. However their implementation has been slow so far. In this article, we first describe the most advanced projects that have taken place in developing countries using these types of crop insurances. We then describe the methodology that has been used to design such projects, in order to choose the meteorological index, the indemnity schedule and the insurance premium. We finally draw an agenda for research in... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agriculture; Insurance; Climatic Risk; Environmental Economics and Policy; G21; O12; Q12; Q18; Q54. |
| Ano: 2010 |
URL: http://purl.umn.edu/91004 |
| |
|
| |
|
|
| Krawczyk, Mariusz K.. |
| The weakness of the Japanese banking industry, suffering from acute problem of non-performing loans, prevents Japan from restoring sound growth rates despite having undertaken structural reforms and substantial fiscal policy efforts, and, through impairing transmission channels of monetary policy, it has also made ineffective efforts to stimulate the economy through "zero interest rates" and quantitative easing policy. Misunderstanding the roots of the banking crisis contributed greatly to its exceptional length and depth and prevented its early solution. Poor coordination and sequencing of liberalization of financial services together with macroeconomic policy mistakes have been responsible for the crisis. But the origins of those mistakes can be traced... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Japanese economy; Banking crisis; Financial liberalisation; Financial Economics; G21; G28. |
| Ano: 2004 |
URL: http://purl.umn.edu/26383 |
| |
|
| |
|
| |
|
| |
|
| |
|
|
| Zawojska, Aldona; Siudek, Tomasz. |
| The aim of the paper is to assess the potential of cooperative banks for serving agricultural sector in Poland and to identify the areas with the most development potential. We discuss the transformation process in the cooperative banking system under market economy, and in particular investigate importance of cooperative banks for farms' financing on the basis of our survey of banks. Moreover, the role of cooperative banks in transmission of Government policy supporting farm sector in Poland is discussed. We find that despite growing competition from the commercial banking sector, farms and rural households in Poland are still of major importance for the cooperative banks in Poland. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Cooperative banks; Agricultural sector; Poland; Agricultural Finance; G21; O18; Q14. |
| Ano: 2005 |
URL: http://purl.umn.edu/24479 |
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
|
| Liu, Ying; Papakirykos, Eli; Yuan, Mingwei. |
| This paper applies the asset valuation model developed by Rabinovitch (1989) to the six largest Canadian banks. The model is an extension of the Merton (1977a) option-pricing model with the incorporation of stochastic interest rates. We then introduce a measure of distance-to default, Z-score. Our results indicate that the market value of bank assets is almost always below its book value and that Canadian banks have a very low insolvency risk over time, except for 1982 and 1983. We also find that both the market valuation of the bank assets and the z-score of these Canadian banks demonstrate similar regime switches in the late 1990s, which may be related to regulatory changes during the 1990s. |
| Tipo: Journal Article |
Palavras-chave: Asset pricing; Financial institution; Financial Economics; Risk and Uncertainty; G12; G21. |
| Ano: 2006 |
URL: http://purl.umn.edu/50281 |
| |
| Registros recuperados: 37 | |
|
|
|
