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Record Nr. |
UNINA9910461975003321 |
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Autore |
Boot Arnoud W. A (Willem Alexander), <1960-> |
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Titolo |
Banking and trading [[electronic resource] /] / Arnoud W. A. Boot and Lev Ratnovski |
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Pubbl/distr/stampa |
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Washington, D.C., : International Monetary Fund, c2012 |
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ISBN |
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1-4755-1248-1 |
1-4755-1246-5 |
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Descrizione fisica |
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1 online resource (49 p.) |
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Collana |
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IMF working paper ; ; WP/12/238 |
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Altri autori (Persone) |
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Soggetti |
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Banks and banking |
Stocks |
Electronic books. |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover; Contents; I. Introduction; II. Relationship to the Literature; III. Model; A. Approach; B. Credit Constraints; C. Banking; D. Trading; IV. Benefits of Conglomeration; V. Time Inconsistency of Capital Allocation; A. Setup: Long-term Banking; B. The Consequences of Time Inconsistency; C. Cost of Conglomeration under Time Inconsistency; VI. Trading as Risk-Shifting; A. Setup: Risky Trading; B. Risk-Shifting; C. The Interaction of Time Inconsistency and Risk Shifting; VII. Discussion; A. Front-loaded Income in Relationship Banking; B. External Equity and Internal Capital Allocation |
C. Policy Implications VIII. Conclusion; References; Figures; 1. The Timeline; 2. The Timeline with Time Inconsistency; 3. Relationship Banking Allocation R as a Function of Trading Opportunities; 4. The Volume of Banking (R) and Trading (T), and Profits (Π)under Conglomerated Banking; 5. The Volumes of Banking (R)and Trading (T), and Profits (Π) with Risk-shifting; 6. Time Inconsistency Arises due to a Higher Return to Trading under Risk-shifting ("Effect 1"); 7. Risk-shifting Arises due to a Higher Volume of Trading, Driven by Time Inconsistency ("Effect 2") |
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Sommario/riassunto |
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We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with |
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high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, shortterm, capital constrained, and with the ability to generate risk from concentrated positions. When a bank engages in trading, it can use its ?spare' capital to profitablity expand the sc |
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2. |
Record Nr. |
UNISALENTO991002023979707536 |
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Autore |
Gyp (i. e. Riquetti De Mirabeau, Sybille) |
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Titolo |
C'est nous qui sont l'histoire!!! |
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Pubbl/distr/stampa |
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Descrizione fisica |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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