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Social Sciences x Financial Institutions and Services x Game Theory and Bargaining Theory x clear all

Bank Bailouts and Moral Hazard: Evidence from Germany

Lammertjan Dam and Michael Koetter.

in The Review of Financial Studies

August 2012; p ublished online April 2012 .

Journal Article. Subjects: Multiple or Simultaneous Equation Models; Multiple Variables; Game Theory and Bargaining Theory; Banking; Financial Regulation; Regulation and Industrial Policy. 16089 words.

We use a structural econometric model to provide empirical evidence that safety nets in the banking industry lead to additional risk taking. To identify the moral hazard effect of bailout...

The cost of capital in a model of financial intermediation with coordination frictions

Oana Peia and Radu Vranceanu.

in Oxford Economic Papers

January 2018; p ublished online August 2017 .

Journal Article. Subjects: Game Theory and Bargaining Theory; Information, Knowledge, and Uncertainy; Financial Institutions and Services; Economics. 9016 words.


This paper studies the impact of coordination frictions in financial markets on the cost of capital of real sector projects. In the model, a financial...

The Economics of Solicited and Unsolicited Credit Ratings

Paolo Fulghieri, Günter Strobl and Han Xia.

in The Review of Financial Studies

February 2014; p ublished online October 2013 .

Journal Article. Subjects: Game Theory and Bargaining Theory; Information, Knowledge, and Uncertainy; Investment Banking. 20006 words.

This paper develops a dynamic rational expectations model of the credit rating process, incorporating three critical elements of this industry: (1) the rating agencies' ability to misreport...

Risk Attribution Using the Shapley Value: Methodology and Policy Applications

Nikola Tarashev, Kostas Tsatsaronis and Claudio Borio.

in Review of Finance

May 2016; p ublished online July 2015 .

Journal Article. Subjects: Econometric and Statistical Methods and Methodology: General; Game Theory and Bargaining Theory; Financial Institutions and Services; Financial Regulation. 12710 words.

We present the Shapley Value as a methodology for risk attribution and use it to derive measures of banks’ systemic importance. The methodology possesses attractive properties, such as...

Self-fulfilling Credit Market Freezes

Lucian A. Bebchuk and Itay Goldstein.

in The Review of Financial Studies

November 2011; p ublished online September 2011 .

Journal Article. Subjects: Game Theory and Bargaining Theory; Production and Organizations; Money and Interest Rates; Economics; Financial Institutions and Services. 17910 words.

This article develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating...

A Theory of IPO Waves

Ping He.

in The Review of Financial Studies

July 2007; p ublished online January 2007 .

Journal Article. Subjects: Investment Banking; Game Theory and Bargaining Theory. 15705 words.

In the IPO market, investors coordinate on acceptable IPO price based on the performance of past IPOs, and this generates an incentive for investment banks to produce information about IPO...