Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Essays on Banking and Financial Markets

Essays on Banking and Financial Markets

Hilberg, Bjorn

Paperback

Accounting

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ISBN10: 3832533621
ISBN13: 9783832533625
Publisher: Logos Verlag Berlin
Published: Mar 11 2013
Pages: 122
Weight: 0.35
Height: 0.30 Width: 5.70 Depth: 8.00
Language: English
This dissertation contributes to the theoretical and to the empirical literature on the relationship of banks and financial markets. The first two chapters consist of two theoretical studies which use different approaches to model the interaction of banks in the interbank market where liquidity is traded among banks in bilateral transactions. In the third chapter an empirical study assesses the degree of market discipline in the bank bond market which is an important source of debt-financing for banks. In the first chapter a heterogeneous banking sector is incorporated into a dynamic, stochastic, general equilibrium framework with financial frictions to analyze the effects of a central bank's collateral policy on interbank lending volumes. In the second chapter a partial equilibrium model of a bank's lending decision in the interbank market is developed. If lenders are assumed to possess only imperfect information about individual borrower characteristics there exists a relationship between the uncertainty about counterparty risk and the level of interbank lending activity.In the third chapter a panel data set of bank bond spreads and bank-specific risk factors is constructed and a structural break analysis is employed to assess the sensitivity of a bank's funding costs in the bond market to changes in its balance sheet risk.

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