In this paper, we study credit risk transfer (CRT) in an economy with endogenous financing
(by both banks and non-bank institutions). Our analysis suggests that the incentive of banks …

We present a banking model with imperfect competition in which borrowers' access to credit
is improved when banks are able to transfer credit risks. However, the market for credit risk …

During the 1970s, monetarism and the new classical macroeconomics ushered in an era of
neoliberal economic policymaking. Keynesian economics was pushed aside. It was almost …

One of the most important recent innovations in financial markets has been the development
of credit derivative products that allow banks to more actively manage their credit portfolios …

We examine the implications of optimal credit risk transfer (CRT) for bank-loan monitoring,
and the incentives for banks to engage in optimal CRT. In our model, properly designed …

We analyze the effect of counterparty risk on financial insurance contracts, using the case of
credit risk transfer in banking. This paper posits a new moral hazard problem on the insurer …

Das erste deutschsprachige Lehrbuch zum Thema liefert einen fundierten Überblick über
moderne Methoden des Kreditrisikotransfers: Kreditderivate, Asset Backed Securities und …

We study whether banks' involvement into different types of securitization activity–asset
backed securities (ABS) and covered bonds–in Spain influences credit supply before and …

内容提要美国次贷危机根源于房地产市场繁荣背景下激进的住房抵押贷款行为,
本质是由房价下跌和利率提升导致的信用危机引发的信贷紧缩和金融市场流动性缺失 …

Banks have been heavily involved in securitization. We study whether the involvedness of a
firm's main bank into different types of securitization activity–asset backed securities (ABS) …