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Persistent link: https://www.econbiz.de/10006129457
Bullocks are an important resource in Indian agriculture where they are used as draft animals. Previous research suggests that farmers who do not own bullocks, or own bullocks in insufficient numbers relative to their land holdings, adjust bullock‐land ratios through transactions in the land...
Persistent link: https://www.econbiz.de/10009398611
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A linear fixed effects statistical model is used to study variations in foreclosure rates across metropolitan statistical areas in the Fifth Federal Reserve District. We find that variations in local labor market conditions and house prices do a remarkable job of capturing variation in...
Persistent link: https://www.econbiz.de/10010724752
In this article, we analyze price triggers in contingent capital bonds. We illustrate the pervasiveness of multiple equilibria and the nonexistence of equilibrium in theoretical models. We summarize evidence of these problems from market experiments and we evaluate possible solutions.
Persistent link: https://www.econbiz.de/10010722868
Contingent capital is debt that converts to equity when some triggering event occurs. It can automatically recapitalize a bank in distress, thus avoiding potentially costly failure. Unfortunately, little is known empirically about contingent capital regimes because there have been only a few...
Persistent link: https://www.econbiz.de/10010722977
We report an experiment that evaluates three market-based regimes for triggering the conversion of contingent capital bonds into equity: a Òfixed-triggerÓ regime, where a price threshold triggers mandatory conversion, a ÒregulatorÓ regime, where regulators make conversion decisions based on...
Persistent link: https://www.econbiz.de/10009649576
Price triggers in contingent capital bonds are analyzed. Pervasiveness of multipleequilibria and nonexistence of equilibrium in theoretical models is illustrated. Evidence of these problems from market experiments is summarized. Possible solutions are evaluated.
Persistent link: https://www.econbiz.de/10010551315
In this article, we analyze price triggers in contingent capital bonds. We illustrate the pervasiveness of multiple equilibria and the nonexistence of equilibrium in theoretical models. We summarize evidence of these problems from market experiments and we evaluate possible solutions.
Persistent link: https://www.econbiz.de/10010562436