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Social Sciences x Financial Institutions and Services x History of Financial Markets and Institutions x clear all

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Banking panics, bank failures, and the lender of last resort: the Showa Depression of 1930–1932

Fumio Akiyoshi.

in Oxford Economic Papers

October 2009; p ublished online June 2009 .

Journal Article. Subjects: History of Financial Markets and Institutions; Financial Regulation; Banking. 9225 words.

By using bank-level data pertaining to the period of the Showa Depression in Japan, we examine whether banking panics caused solvent banks to close down and fail. We find that bank...

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The current economic crisis: its nature and the course of academic economics

Tony Lawson.

in Cambridge Journal of Economics

July 2009; p ublished online July 2009 .

Journal Article. Subjects: General Economics; Economic Systems; General Economics and Teaching; Economic Methodology; Economics; Economic Education and Teaching of Economics; Economic History; Financial Institutions and Services; Macroeconomics and Monetary Economics; Growth and Fluctuations; History of Financial Markets and Institutions; Capitalist Systems; Individual Economists. 11027 words.

The current crisis has triggered significant debate concerning economic theory and policy. Largely absent from this debate is an informed discussion of the methods used by economists in...

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Ending “Too Big To Fail”: Government Promises Versus Investor Perceptions

Todd A. Gormley, Simon Johnson and Changyong Rhee.

in Review of Finance

March 2015; p ublished online April 2014 .

Journal Article. Subjects: Money and Interest Rates; Financial Regulation; Law and Economics; History of Financial Markets and Institutions; Capitalist Systems. 11359 words.

Can a government credibly promise not to bailout firms whose failure would have major negative systemic consequences? Our analysis of Korea’s 1997–98 crisis suggests an answer: No. Despite...

From insurance to investments: financialisation and the supply side of life insurance and annuities in the USA (1970–2006)

Peter Wissoker.

in Cambridge Journal of Regions, Economy and Society

November 2013; p ublished online October 2013 .

Journal Article. Subjects: Household Behaviour and Family Economics; History of Financial Markets and Institutions; Economics; Insurance. 8988 words.

The paper describes the supply side of the annuity products and hybrid investment/life insurance policies that were developed and sold by US life insurers from the 1970s onward, including...

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Interbank networks in prewar Japan: structure and implications

Tetsuji Okazaki and Michiru Sawada.

in Industrial and Corporate Change

April 2012; p ublished online August 2011 .

Journal Article. Subjects: History of Financial Markets and Institutions; Mergers and Acquisitions; Firm Objectives, Organization, and Behaviour; Banking; Market Structure, Firm Strategy, and Market Performance. 14310 words.

In this article, we explore the structure and implications of interbank networks in prewar Japan, focusing on director interlocking. We find that approximately half the banks had at least...

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Lending Relationships and Loan Contract Terms

Sreedhar T. Bharath, Sandeep Dahiya, Anthony Saunders and Anand Srinivasan.

in The Review of Financial Studies

April 2011; p ublished online October 2009 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Corporate Governance; Financial Institutions and Services; Banking; Investment Banking; Market Structure, Firm Strategy, and Market Performance; History of Financial Markets and Institutions. 30361 words.

We find that repeated borrowing from the same lender translates into a 10–17 bps lowering of loan spreads and that relationships are especially valuable when borrower transparency is low....

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The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar U.S. Housing Credit Policy

Andrew J Fieldhouse, Karel Mertens and Morten O Ravn.

in The Quarterly Journal of Economics

August 2018; p ublished online January 2018 .

Journal Article. Subjects: Money and Interest Rates; Monetary Policy, Central Banking, and the Supply of Money and Credit; History of Financial Markets and Institutions; Housing Markets, Production Analysis, and Business Location; Financial Regulation. 19722 words.

Abstract

We document the portfolio activity of federal housing agencies and provide evidence on its impact on mortgage markets and the economy. Through a...

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On PIIGs, GAFFs, And BRICs: An Insider–Outsider's Perspective on Structural and Institutional Foundations of the Greek Crisis

Christos N. Pitelis.

in Contributions to Political Economy

June 2012; p ublished online April 2012 .

Journal Article. Subjects: History of Financial Markets and Institutions; Economic Methodology; Financial Institutions and Services; International Economics. 6154 words.

We discuss structural and institutional underpinnings of the Greek ‘Debt’ Crisis. We suggest that the Greece's de facto catching-up competitiveness model was misguided, short-term focused,...

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The revenge of the market on the rentiers.

José Gabriel Palma.

in Cambridge Journal of Economics

July 2009; p ublished online July 2009 .

Journal Article. Subjects: International Economics; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Economic Development; International Relations and International Political Economy; Economic Growth and Aggregate Productivity; International Finance; History of Financial Markets and Institutions; Financial Institutions and Services; Corporate Governance. 19819 words.

Starting from the perspective of heterodox Keynesian–Minskyian–Kindlebergian financial economics, this paper begins by highlighting a number of mechanisms that contributed to the current...

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Securitization across borders: organizational mimicry in Islamic finance

David Bassens, Ewald Engelen, Ben Derudder and Frank Witlox.

in Journal of Economic Geography

January 2013; p ublished online March 2012 .

Journal Article. Subjects: Investment Banking; History of Financial Markets and Institutions; International Financial Markets; Economics; Regional and Urban Economic History. 9335 words.

This article discusses the case of securitization in Islamic finance to tease out what is universal and what is specific about this technique. To do this, the article frames the spatial...

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Securitization and Mortgage Renegotiation: Evidence from the Great Depression

Andra C. Ghent.

in The Review of Financial Studies

June 2011; p ublished online April 2011 .

Journal Article. Subjects: Banking; History of Financial Markets and Institutions; Housing Markets, Production Analysis, and Business Location. 13480 words.

We use loan-level data from the New York City metropolitan area to examine the extent to which lenders attempted to prevent foreclosures with concessionary modifications during the Great...

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Sovereign states, bondholders committees, and the London Stock Exchange in the nineteenth century (1827–68): new facts and old fictions

Marc Flandreau.

in Oxford Review of Economic Policy

January 2013; p ublished online December 2013 .

Journal Article. Subjects: History of Financial Markets and Institutions; International Financial Markets; Financial Institutions and Services. 17241 words.

This paper unpacks the role of foreign bondholders committees in influencing market access following a default during the era before the creation of the British Corporation of Foreign...

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Wages and Human Capital in the U.S. Finance Industry: 1909–2006*

Thomas Philippon and Ariell Reshef.

in The Quarterly Journal of Economics

November 2012; p ublished online November 2012 .

Journal Article. Subjects: Demand and Supply of Labour; Wages, Compensation, and Labour Costs; Financial Institutions and Services; History of Financial Markets and Institutions. 19404 words.

We study the allocation and compensation of human capital in the U.S. finance industry over the past century. Across time, space, and subsectors, we find that financial deregulation is...

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