We investigate determinants of launch spreads in European securitizationtransactions over the last decade. First, we develop a simple, reduced-form pricingmodel for all issues across different transaction types and test it. We document thecritical importance of credit ratings without refinements...

[...]This article significantly advances the literature onmortgage prepayments by introducing quantitative measuresof individual homeowner credit histories to the loan-levelanalysis of the factors influencing the probability that a homeownerwill refinance. In addition to credit histories, we...

In der aktuellen Blitzumfrage der KfW Bankengruppe unter Finanzexperten der führendendeutschen Wirtschaftverbände zum Thema Kreditklemme wird deutlich, dass ein Großteilder kleinen Unternehmen mit erhöhten Sicherheiten sowie höheren Zinsen bzw.Kreditabsagen zu kämpfen hat. Das Problem...

This paper puts forward a strategy for achieving two objectives in higher education –improved access and increased quality – about which there is unanimous agreement.[...]

Universities need cash, students need support and there are too few working-classentrants. After a two-year extension, Charles Clarke and the class of '73 are all set todeliver answers to these problems. Nicholas Barr offers a guide to how you, theexaminers, should mark their responses.[...]

Der Freistaat Bayern unterstützt im Rahmen seiner mittelstandspolitischenMaßnahmen Existenzgründer und bestehende kleine und mittlere Unternehmenbei der Verwirklichung von Investitionsvorhaben durch zinsgünstige Darlehen.Hierdurch sollen die aus Marktunvollkommenheiten resultierenden...

The arguments for refinancing the European Union’s (EU) higher education via highertuition fees largely rest on preserving the profitability of the educational investmentand offering deferred and income-contingent payments. Using income survey datasetson Belgium, Germany and the United Kingdom...

The assumption that remittances are a substitute for credit has been an implicit or explicit theoretical foundation of many empirical studies on remittances. This paper directly tests this assumption by comparing the response to health-related shocks among national and transnational households...