Showing 1 - 10 of 69
This paper addresses a very European issue, the consolidation of securities trading and settlement infrastructures. In a two-country model, we analyze welfare implications of different types of consolidation. We find that in our model, full technical horizontal integration of settlement systems...
Persistent link: https://www.econbiz.de/10005736422
This paper addresses a very European issue, the consolidation of securities trading and settlement infrastructures. In a two-country model, we analyse welfare implications of different types of consolidation. We find that horizontal integration of settlement systems is better than vertical...
Persistent link: https://www.econbiz.de/10005357306
This paper addresses a very European issue, the consolidation of securities trading and settlement infrastructures. In a two-country model, we analyze welfare implications of different types of consolidation. We find that horizontal integration of settlement systems is better than vertical...
Persistent link: https://www.econbiz.de/10005162927
A homogeneous Cournot duopoly with asymmetric information is analyzed. Every firm learns its own marginal cost parameter, but not the marginal cost parameter of the opponent. Every firm can commit to revealing its private information to the other firm, i.e. to share information. The influence of...
Persistent link: https://www.econbiz.de/10005370760
Persistent link: https://www.econbiz.de/10005374337
Persistent link: https://www.econbiz.de/10005413914
Unsecured interbank money market rates such as the Euribor increased strongly with the start of the financial market turbulences in August 2007. There is clear evidence that these rates reached levels that cannot be explained alone by higher credit risk. This article presents this evidence and...
Persistent link: https://www.econbiz.de/10005002755
We analyse a two period model of the interbank market, i.e. the market at which banks trade liquidity. We assume that banks do not take the inter- bank interest rate as given, but multilaterally negotiate on interest rates and transaction volumes. The solution concept applied is the Shapley...
Persistent link: https://www.econbiz.de/10005083298
We analyse the European interbank market in a general equilibrium model. Several institutional aspects of the market are taken into consideration, especially the Eurosystem?s two standing facilities, reserve requirements of banks and the fact that borrowing from the Eurosystem has to be secured....
Persistent link: https://www.econbiz.de/10005059014