Zobrazeno 1 - 10
of 15
pro vyhledávání: '"Victoria Vanasco"'
Publikováno v:
American Economic Journal: Microeconomics. 15:187-226
We study the joint determination of product quality and complexity. In our model complexity affects how difficult it is for an agent to acquire information about product quality. An agent can accept or reject a product proposed by a designer, who can
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::64997b4b70ee7db9fd4ac4aae79de3d6
https://doi.org/10.1257/mic.20210114
https://doi.org/10.1257/mic.20210114
Publikováno v:
The Review of Financial Studies.
We investigate the effect of scrutiny (e.g., credit ratings, analyst reports, or mandatory disclosures) on the security design problem of a privately informed issuer. We show that scrutiny has important implications for both the form of security desi
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::27a0e129b6a273053561a6dff3ebae8c
https://doi.org/10.1093/rfs/hhad013
https://doi.org/10.1093/rfs/hhad013
Autor:
Vladimir Asriyan, Victoria Vanasco
We study the problem of a seller (e.g. a bank) who is privately informed about the quality of her asset and wants to exploit gains from trade with uninformed buyers (e.g. investors) by issuing securities backed by her asset cash flows. In our setting
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::abf02f8a87207b3a62c3ab05394b0393
http://hdl.handle.net/10230/57531
http://hdl.handle.net/10230/57531
Autor:
Matthew Botsch, Victoria Vanasco
Publikováno v:
Journal of Financial Intermediation. 37:1-14
Includes supplementary materials for the online appendix This paper studies bank learning through repeated interactions with borrowers from a new perspective. To understand learning by lending, we adapt a methodology from labor economics to analyze h
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::339f77e6d9550eeebc3880486ca47804
https://doi.org/10.1016/j.jfi.2018.03.002
https://doi.org/10.1016/j.jfi.2018.03.002
Publikováno v:
SSRN Electronic Journal.
This paper explores the incentives of product designers to complexify products, and the resulting implications for overall product quality. In our model, a consumer can accept or reject a product proposed by a designer, who can affect the quality and
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::45cc2fc0436da47185c17ac2d8fffcc8
https://doi.org/10.2139/ssrn.3792031
https://doi.org/10.2139/ssrn.3792031
Includes supplementary materials for the online appendix We develop a framework to explore the effect of credit ratings on loan origination. We show that ratings endogenously shift the economy from a signaling equilibrium, in which banks inefficientl
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::519a71526fd3c6df1ca1e2509e7a0354
http://hdl.handle.net/10230/48548
http://hdl.handle.net/10230/48548
Autor:
Victoria Vanasco
Publikováno v:
The Journal of Finance. 72:1937-1982
This paper explores the tension between asset quality and market liquidity. I model an originator who screens assets whose cash flows are later sold in secondary markets. Screening improves asset quality but gives rise to asymmetric information, hind
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::d90178bfda4e37d6a1d975dd0bcbe52a
https://doi.org/10.1111/jofi.12519
https://doi.org/10.1111/jofi.12519
Publikováno v:
Journal of International Economics. 124:103302
We propose a novel explanation for classic international macro puzzles regarding capital flows and portfolio investment, which builds on modern macro-finance models of experience-based belief formation. Individual experiences of past macroeconomic ou
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::5c83a6653e0f114b17098c3682db2b5d
https://doi.org/10.1016/j.jinteco.2020.103302
https://doi.org/10.1016/j.jinteco.2020.103302
Publikováno v:
SSRN Electronic Journal.
We develop a framework to explore the effect of credit ratings on loan origination and securitization. In the model, banks privately screen and originate loans and then issue securities that are backed by loan cash flows. Issued securities are rated
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::0af2a2a807fd82b254ea5cdec4d30a28
https://doi.org/10.2139/ssrn.2937297
https://doi.org/10.2139/ssrn.2937297