منابع مشابه
Essays on Banking and Local Credit Markets
Essays on Banking and Local Credit Markets by Hoai-Luu Q. Nguyen Submitted to the Department of Economics on May 15, 2015, in partial fulfillment of the requirements for the degree of Doctor of Philosophy This thesis consists of three chapters on banking and local credit markets. The first chapter studies the relationship between bank-specific capital and credit access in a new setting: bank br...
متن کاملMoney, credit and banking
In monetary models in which agents are subject to trading shocks there is typically an ex-post inefficiency in that some agents are holding idle balances while others are cash constrained. This inefficiency creates a role for financial intermediaries, such as banks, who accept nominal deposits and make nominal loans. We show that in general financial intermediation improves the allocation and t...
متن کاملCredit Risk and Credit Derivatives in Banking
Using the industrial economics approach to the microeconomics of banking we analyze a large bank under credit risk. Our aim is to study how a risky loan portfolio affects optimal bank behavior in the loan and deposit markets, when credit derivatives to hedge credit risk are available. We examine hedging without and with basis risk. In the absence of basis risk the usual separation result is con...
متن کاملBanking and Markets
This paper integrates a number of recent themes in the literature on banking and asset marketsoptimal risk sharing, limited market participation, asset-price volatility, market liquidity, and Þnancial crisesin a generalequilibrium theory of the Þnancial system. A complex Þnancial system comprises both Þnancial markets Þnancial institutions. Financial institutions can take the form of intermed...
متن کاملCredit Risk Transfer in Banking Markets with Hard and Soft Information†
We consider a banking model in which firms’ access to credit is constrained due to the banks’ limited risk-bearing capacities. We show that such constraints may be relaxed by allowing banks to transfer risks to outside investors. However, the market for credit risk transfer (CRT) works smoothly only if loans are based on hard, i. e., verifiable information. In contrast, the market for CRT eithe...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 1999
ISSN: 1556-5068
DOI: 10.2139/ssrn.160532