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Regulation, credit risk transfer, and bank lending

Pausch, Thilo; Welzel, Peter - 2011

behavior and risk sensitivity of a risk-neutral bank. The bank is exposed to credit risk and may use credit default swaps (CDS …) for hedging purposes. Regulation is found to induce the risk-neutral bank to behave in a more risk-sensitive way: Compared … trading is found to interact with the former effect when regulation accepts CDS as an instrument to mitigate credit risk …

Persistent link: https://www.econbiz.de/10010291748

Policy diffusion in a simple Stackelberg game

Michaelis, Peter; Ziesemer, Thomas - 2010

Strategic environmental policy games are usually based on simultaneous decision making and reach the conclusion that the policy choices are strategic substitutes. Empirical evidence, however, shows that the introduction of a regulatory instrument usually follows a consecutive pattern that is...

Persistent link: https://www.econbiz.de/10010291749

The analytics of New Keynesian Phillips curves

Maußner, Alfred - 2010

This paper introduces the reader into the apparatus behind the popular New Keynesian Phillips (NKPC) curve. It derives several log-linear versions of this curve and recursive formulations of the Calvo-Yun price staggeringmodel that is behind this curve. These formulations can be used for...

Persistent link: https://www.econbiz.de/10010291750