Skip to main navigation Skip to main content
info(at)avldigital.remove-this.de
Deutsch English
Last searches

Results for *

Displaying results 1 to 10 of 10.

  1. Intergenerational risk sharing in life insurance
    evidence from France
    Author: Hombert, Johan; Lyonnet, Victor
    Published: [2017]
    Publisher:  HEC Paris, Jouy-en-Josas

    Access:

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: HEC Paris research paper ; no. FIN-1237 (2017)
    Scope: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  2. Traditional and shadow banks
    Author: Chrétien, Edouard; Lyonnet, Victor
    Published: [2019]
    Publisher:  The Ohio State University, Fisher College of Business, Charles A. Dice Center for Research in Financial Economics, [Columbus, Ohio]

    This paper documents how traditional and shadow banks interacted with one another during the 2007 financial crisis, when both assets and liabilities flew from shadow to traditional banks. To rationalize their behavior, we propose a simple model which... more

    Access:
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Rechte
    Inter-library loan:
    No inter-library loan

     

    This paper documents how traditional and shadow banks interacted with one another during the 2007 financial crisis, when both assets and liabilities flew from shadow to traditional banks. To rationalize their behavior, we propose a simple model which demonstrates the symbiotic coexistence and mutual reliance of traditional and shadow banks through their interaction in a crisis. In our model, shadow banks escape the costly regulation traditional banks must comply with, but give up deposit insurance, which traditional banks can rely upon. Without deposit insurance, shadow banks repay their creditors in a crisis by selling assets at fire-sale prices to traditional banks. By using deposit insurance to purchase these assets, traditional banks are able to generate enough profit to offset their regulatory costs. The model allows us to study the (unintended) consequences of regulations for traditional banks on the shadow banking sector

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers series / Charles A. Dice Center for Research in Financial Economics ; WP 2019, 11
    Fisher College of Business Working Paper ; No. 2019-03-011
    Fisher College of Business working paper series ; WP 2019-03, 011
    Other subjects: Array
    Scope: 1 Online-Ressource (circa 83 Seiten)
  3. Can risk be shared across investor cohorts?
    evidence from a popular savings product
    Author: Hombert, Johan; Lyonnet, Victor
    Published: [2019]
    Publisher:  The Ohio State University, Fisher College of Business, Charles A. Dice Center for Research in Financial Economics, [Columbus, Ohio]

    We study how retail savings products can share market risk across investor cohorts, thereby completing financial markets. Financial intermediaries smooth returns by varying reserves, which are passed on between successive investor cohorts,... more

    Access:
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Rechte
    Inter-library loan:
    No inter-library loan

     

    We study how retail savings products can share market risk across investor cohorts, thereby completing financial markets. Financial intermediaries smooth returns by varying reserves, which are passed on between successive investor cohorts, redistributing wealth across cohorts. Using data on euro contracts sold by life insurers in France, we estimate this redistribution to be large: 0.8% of GDP. We develop and provide evidence for a model in which low investor sophistication, while leading to individually sub-optimal decisions, improves risk sharing by allowing inter-cohort risk sharing

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers series / Charles A. Dice Center for Research in Financial Economics ; WP 2019, 17
    Fisher College of Business Working Paper ; No. 2019-03-017
    Fisher College of Business working paper series ; WP 2019-03, 017
    Scope: 1 Online-Ressource (circa 70 Seiten)
  4. Build or buy?
    human capital and corporate diversification
    Author: Beaumont, Paul H.; Hébert, Camille; Lyonnet, Victor
    Published: [2019]
    Publisher:  The Ohio State University, Fisher College of Business, Charles A. Dice Center for Research in Financial Economics, [Columbus, Ohio]

    Why do some firms enter a new sector by acquiring an existing company ("buy"), while others do so using their existing resources ("build")? Using a novel dataset constructed by merging French employer payrolls with commercial M&A datasets, we show... more

    Access:
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Rechte
    Inter-library loan:
    No inter-library loan

     

    Why do some firms enter a new sector by acquiring an existing company ("buy"), while others do so using their existing resources ("build")? Using a novel dataset constructed by merging French employer payrolls with commercial M&A datasets, we show that firms are more likely to buy when their existing workforce does not include skills needed in the sector of entry. This relationship is more pronounced when labor market frictions make it difficult to hire key workers. Firms that enter by building realize lower entry sales when their existing workforce is not adapted to the sector of entry, especially in the presence of labor market frictions. Our results suggest that firms buy to acquire their target's human capital when adapting their existing workforce is too costly

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers series / Charles A. Dice Center for Research in Financial Economics ; WP 2019, 18
    Fisher College of Business Working Paper ; No. 2019-03-018
    Fisher College of Business working paper series ; WP 2019-03, 018
    Scope: 1 Online-Ressource (circa 76 Seiten), Illustrationen
  5. Stereotypes about Successful Entrepreneurs
    Author: Lyonnet, Victor; Stern, Léa
    Published: [2023]
    Publisher:  SSRN, [S.l.]

    What comes to mind when thinking about a successful entrepreneur? Belief formation models suggest that what comes to mind is an oversimplified picture of the characteristics of successful entrepreneurs, i.e, stereotypes about successful... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan

     

    What comes to mind when thinking about a successful entrepreneur? Belief formation models suggest that what comes to mind is an oversimplified picture of the characteristics of successful entrepreneurs, i.e, stereotypes about successful entrepreneurs. Using French administrative data on 48,767 new firms, we show that some characteristics are stereotypical of success and have distributions that can generate miscalibrated beliefs. To illustrate how stereotypical thinking can lead to biased assessments, we report the discrepancies between the implied fraction of successful entrepreneurs under Bayesian vs. stereotypical thinking for several stereotypes. We discuss the consequences of stereotyping for venture capital allocation

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Fisher College of Business Working Paper ; No. 2023-03-004
    Subjects: entrepreneurship; startups; deal selection; stereotypes; venture capital
    Other subjects: Array
    Scope: 1 Online-Ressource (11 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 7, 2023 erstellt
  6. The lessons from QE and other "unconventional" monetary policies
    evidence from the Bank of England
    Author: Lyonnet, Victor; Werner, Richard A.
    Published: 2011
    Publisher:  Center for Financial Studies, Frankfurt, Main

    This paper investigates the effectiveness of the "quantitative easing" policy, as implemented by the Bank of England in March 2009. Similar policies had been previously implemented in Japan, the U.S. and the Eurozone. The effectiveness is measured by... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 108 (2011,29)
    Inter-library loan:
    No inter-library loan

     

    This paper investigates the effectiveness of the "quantitative easing" policy, as implemented by the Bank of England in March 2009. Similar policies had been previously implemented in Japan, the U.S. and the Eurozone. The effectiveness is measured by the impact of Bank of England policies (including, but not limited to QE) on nominal GDP growth - the declared goal of the policy, according to the Bank of England. Unlike the majority of the literature on the topic, the general-to-specific econometric modeling methodology (a.k.a. the "Hendry" or "LSE" methodology) is employed for this purpose. The empirical analysis indicates that QE as defined and announced in March 2009 had no apparent effect on the UK economy. Meanwhile, it is found that a policy of "quantitative easing" defined in the original sense of the term (Werner, 1994) is supported by empirical evidence: a stable relationship between a lending aggregate (disaggregated M4 lending, i.e. bank credit for GDP transactions) and nominal GDP is found. The findings imply that BoE policy should more directly target the growth of bank credit for GDP-transactions. -- Central Banking ; General-to-specific Methodology ; Monetary Policy ; Nominal GDP Growth ; Quantitative Easing

     
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/57361
    Edition: This Version: June 29, 2011
    Series: CFS working paper ; 2011/29
    Subjects: Geldpolitik; Liquidität; Wirkungsanalyse; Nationaleinkommen; Wirtschaftswachstum; Großbritannien
    Scope: Online-Ressource (PDF-Datei: 42 S., 475,85 KB), graph. Darst.
  7. Asset-liability management in life insurance: evidence from France
    Author: Lyonnet, Victor
    Published: [2018]
    Publisher:  Center for Research in Economics and Statistics, [Palaiseau]

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 647
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Série des documents de travail / Center for Research in Economics and Statistics ; no. 2018, 12
    Scope: 1 Online-Ressource (circa 32 Seiten)
  8. Can risk be shared across investor cohorts?
    evidence from a popular savings product
    Author: Hombert, Johan; Lyonnet, Victor
    Published: 28 September 2019
    Publisher:  Centre for Economic Policy Research, London

    Access:
    Verlag (lizenzpflichtig)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    LZ 161
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Mannheim
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP14029
    Scope: 1 Online-Ressource (circa 72 Seiten), Illustrationen
  9. Shadow banking
    financial intermediation beyond banks
    Author: Adrian, Tobias; Chrétien, Edouard; Chui, Michael; Vries-van Ewijk, Saskia de; Fricke, Christoph; Fricke, Daniel; Gennaioli, Nicola; Honkapohja, Seppo; Li, Jiasun; Lyonnet, Victor; Maes, Stan; Morganti, Patrizio; Nouy, Danièle; Nuzzo, Giorgio; Rubio, Margarita; Suhonen, Antti; Upper, Christian; Voellmy, Lukas; Zafeiris, Dimitris
    Published: [2018]
    Publisher:  Larcier, Vienna

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 580 (2018,1)
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Contributor: Jokivuolle, Esa (HerausgeberIn)
    Language: English
    Media type: Conference proceedings
    Format: Online
    ISBN: 9783902109866
    Other identifier:
    hdl: 10419/193956
    Corporations / Congresses: Shadow Banking: Financial Intermediation beyond Banks (2017, Helsinki)
    Series: SUERF conference proceedings ; 2018, 1
    Scope: 1 Online-Ressource (circa 129 Seiten), Illustrationen
    Notes:

    Enthält 17 Beiträge
  10. Invoicing currency and financial hedging
    Author: Lyonnet, Victor; Martin, Julien; Méjean, Isabelle
    Published: 2016
    Publisher:  Centre for Economic Policy Research, London

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 32 (11700)
    Inter-library loan:
    Unlimited inter-library loan, copies and loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Array ; DP 11700
    Subjects: Exportwirtschaft; Verkauf; Währungsmanagement; Hedging; Exchange Rate Pass-Through; Schätzung; EU-Staaten; currency choice
    Scope: 38 Seiten, Illustrationen
    Notes:

    Erscheint auch als Online-Ausgabe