語系:
繁體中文
English
說明(常見問題)
圖資館首頁
登入
回首頁
切換:
標籤
|
MARC模式
|
ISBD
Three Essays on the Economics of Sha...
~
Huang, Ji.
Three Essays on the Economics of Shadow Banking.
紀錄類型:
書目-電子資源 : Monograph/item
正題名/作者:
Three Essays on the Economics of Shadow Banking.
作者:
Huang, Ji.
面頁冊數:
176 p.
附註:
Source: Dissertation Abstracts International, Volume: 76-11(E), Section: A.
附註:
Advisers: Markus K. Brunnermeier; Yuliy V. Sannikov.
Contained By:
Dissertation Abstracts International76-11A(E).
標題:
Economic theory.
電子資源:
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3712446
ISBN:
9781321892819
Three Essays on the Economics of Shadow Banking.
Huang, Ji.
Three Essays on the Economics of Shadow Banking.
- 176 p.
Source: Dissertation Abstracts International, Volume: 76-11(E), Section: A.
Thesis (Ph.D.)--Princeton University, 2015.
This dissertation contains three self-contained essays that investigate the economics of shadow banking.
ISBN: 9781321892819Subjects--Topical Terms:
533491
Economic theory.
Three Essays on the Economics of Shadow Banking.
LDR
:03302nmm a2200325 4500
001
476090
005
20160418090151.5
008
160517s2015 ||||||||||||||||| ||eng d
020
$a
9781321892819
035
$a
(MiAaPQ)AAI3712446
035
$a
AAI3712446
040
$a
MiAaPQ
$c
MiAaPQ
100
1
$a
Huang, Ji.
$3
730362
245
1 0
$a
Three Essays on the Economics of Shadow Banking.
300
$a
176 p.
500
$a
Source: Dissertation Abstracts International, Volume: 76-11(E), Section: A.
500
$a
Advisers: Markus K. Brunnermeier; Yuliy V. Sannikov.
502
$a
Thesis (Ph.D.)--Princeton University, 2015.
520
$a
This dissertation contains three self-contained essays that investigate the economics of shadow banking.
520
$a
In Chapter 1, I incorporate shadow banking modeled as off-balance-sheet financing in a standard continuous-time macro-finance model. In this model, regular banks pursue regulatory arbitrage by extending businesses outside the regulatory perimeter via shadow banking. In the absence of regulatory authorities, shadow banking creates an enforcement problem, which leads to an endogenous constraint on leverage for shadow banking. Shadow banking adds to financial instability because tightening market discipline in economic downturns forces shadow banks to sell assets at fire-sale prices to regular banks. Overall, financial instability as a function of financial regulation is U-shaped rather than monotonically decreasing. This new framework can comprehensively evaluate the impact of different regulatory regimes on both the regulated and unregulated banking sectors.
520
$a
In Chapter 2, I modify the framework developed in Chapter 1 and modernize Minsky's "Financial Instability Hypothesis'' in an economy where the financial market consists of both regular banking and shadow banking. As in Chapter 1, the friction with off-balance-sheet financing constrains the borrowing capacity of shadow banking, although shadow banking provides cheaper credit than regular banking does. Chapter 2 shows that the decline of asset volatility in economic upturns speeds up the growth of shadow banking. The overheated expansion of shadow banking exposes the economy to the risk of a self-fulfilling systemic run; in turn, this risk then may lead to the sudden collapse of the shadow banking system.
520
$a
In Chapter 3, I investigate two inseparable explanations for US banks' liquidity problem in the 2007-09 financial crisis: the malfunction of the securitization market and the loan commitment drawdowns. I find that US banks issue more C&I; loan commitments when they perceive more loan securitization potential. A critical missing variable problem results when only one of the two is applied as an explanatory variable. I find that the exposure to C&I; loan commitment takedown is the dominant influence that explains US banks' liquidity problem from July 2007 to June 2008 and that from July 2008 to June 2009 the freeze of the securitization market is the dominant influence.
590
$a
School code: 0181.
650
4
$a
Economic theory.
$3
533491
650
4
$a
Finance.
$3
183252
650
4
$a
Commerce-Business.
$3
730335
690
$a
0511
690
$a
0508
690
$a
0505
710
2
$a
Princeton University.
$b
Economics.
$3
730356
773
0
$t
Dissertation Abstracts International
$g
76-11A(E).
790
$a
0181
791
$a
Ph.D.
792
$a
2015
793
$a
English
856
4 0
$u
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3712446
筆 0 讀者評論
全部
電子館藏
館藏
1 筆 • 頁數 1 •
1
條碼號
館藏地
館藏流通類別
資料類型
索書號
使用類型
借閱狀態
預約狀態
備註欄
附件
000000119440
電子館藏
1圖書
學位論文
TH 2015
一般使用(Normal)
在架
0
1 筆 • 頁數 1 •
1
多媒體
多媒體檔案
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3712446
評論
新增評論
分享你的心得
Export
取書館別
處理中
...
變更密碼
登入