Browsing Robert Schuman Centre for Advanced Studies (RSCAS) by Subject "G21"

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Browsing Robert Schuman Centre for Advanced Studies (RSCAS) by Subject "G21"

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    Title: Credit Market Competition and Capital Regulation  Author(s): ALLEN, Franklin; CARLETTI, Elena; MARQUEZ, Robert Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: It is commonly believed that equity finance for banks is more costly than deposits. This suggests that banks should economize on the use of equity and regulatory constraints on capital should be binding. Empirical evidence ...
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    Title: Interbank Market Liquidity and Central Bank Intervention  Author(s): ALLEN, Franklin; CARLETTI, Elena; GALE, Douglas Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We develop a simple model of the interbank market where banks trade a long term, safe asset. We show that when there is a lack of opportunities for banks to hedge aggregate and idiosyncratic liquidity shocks, the interbank ...