Zobrazeno 1 - 10
of 23
pro vyhledávání: '"Thomas M. Eisenbach"'
Publikováno v:
Journal of Financial Economics. 145:802-826
We model how a cyber attack may be amplified through the U.S. financial system, focusing on the wholesale payments network. We estimate that the impairment of any of the five most active U.S. banks will result in significant spillovers to other banks
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::1f2fbdfd825de504433108e2b9b657bd
https://doi.org/10.1016/j.jfineco.2021.10.007
https://doi.org/10.1016/j.jfineco.2021.10.007
Autor:
Gregory Phelan, Thomas M. Eisenbach
Publikováno v:
American Economic Journal: Macroeconomics. 14:508-542
In standard Walrasian macro-finance models, pecuniary externalities due to fire sales lead to excessive borrowing and insufficient liquidity holdings. We investigate whether imperfect competition (Cournot) improves welfare through internalizing the e
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::50f53edf7a640d1dbfd5c3acfce4a217
https://doi.org/10.1257/mac.20200283
https://doi.org/10.1257/mac.20200283
Publikováno v:
The Journal of Finance. 77:1685-1736
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::703ec1e71b4b94b6d16bf1e7425ae898
https://doi.org/10.1111/jofi.13127
https://doi.org/10.1111/jofi.13127
Autor:
Thomas M. Eisenbach, Gregory Phelan
Publikováno v:
SSRN Electronic Journal.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::05db7f942d1e920a50b22b9ea22225ee
https://doi.org/10.2139/ssrn.4408332
https://doi.org/10.2139/ssrn.4408332
Autor:
Fernando Duarte, Thomas M. Eisenbach
Publikováno v:
The Journal of Finance. 76:1251-1294
We construct a new systemic risk measure that quantifies vulnerability to fire-sale spillovers using detailed regulatory balance sheet data for U.S. commercial banks and repo market data for broker-dealers. Even for moderate shocks in normal times, f
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::2e0c98155102084b5809ab208d419feb
https://doi.org/10.1111/jofi.13010
https://doi.org/10.1111/jofi.13010
Publikováno v:
SSRN Electronic Journal.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::dafb942e18124fa98c73b98b876f446d
https://doi.org/10.2139/ssrn.4151022
https://doi.org/10.2139/ssrn.4151022
Publikováno v:
Journal of Financial Intermediation
We build a general equilibrium model with financial frictions that impede monetary policy transmission. Agents with heterogeneous productivity can increase investment by levering up, which increases liquidity risk due to maturity transformation. In e
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::d217adce0c1c3c8f6c04b324b46aecac
http://cdm21054.contentdm.oclc.org/cdm/ref/collection/IR/id/9756
http://cdm21054.contentdm.oclc.org/cdm/ref/collection/IR/id/9756
Autor:
Thomas M. Eisenbach
Publikováno v:
Journal of Financial Economics. 126:252-269
Why does the market discipline that financial intermediaries face seem too weak during booms and too strong during crises? This paper shows in a general equilibrium setting that rollover risk as a disciplining device is effective only if all intermed
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::71fca2475a17de977f87b460f47673a6
https://doi.org/10.1016/j.jfineco.2017.07.009
https://doi.org/10.1016/j.jfineco.2017.07.009
Publikováno v:
American Economic Review. 106:490-495
We analyze the effects and interactions of monetary policy tools that differ in terms of their timing and their targeting. In a model with heterogeneous agents, more productive agents endogenously expose themselves to higher interim liquidity risk by
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::3dec095e31aa90ba68ba73c99e3adc8c
https://doi.org/10.1257/aer.p20161077
https://doi.org/10.1257/aer.p20161077
Publikováno v:
SSRN Electronic Journal.
We argue that post-crisis banking regulations pass through from regulated institutions to unregulated arbitrageurs. We document that, once post-crisis regulations bind post 2014, hedge funds use a larger number of prime brokers and diversify away fro
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::445cc42a1b1c9185d7e44f4a2342fa07
https://doi.org/10.2139/ssrn.3200041
https://doi.org/10.2139/ssrn.3200041