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  1. Trusting financial institutions
    out of reach, out of trust?
    Author: Filipiak, Ute
    Published: 2013
    Publisher:  Schumpeter School of Business and Economics, Univ., Wuppertal

    This paper empirically investigates the relationship between individual trust in financial institutions and individual access to these institutions. Based on a large-scale survey of savings patterns of Indians, we find that individuals reporting that... more

    Location:
    Staats- und Universitätsbibliothek Bremen
    Inter-library loan:
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 390 (2013,2)
    Inter-library loan:
    No inter-library loan

     

    This paper empirically investigates the relationship between individual trust in financial institutions and individual access to these institutions. Based on a large-scale survey of savings patterns of Indians, we find that individuals reporting that they do not have access to certain financial institutions within a commutable distance of one day are less likely to trust these institutions with their money. Moreover, we find that this relationship holds for different banks and financial institutions offering services in low-income areas and that differences in trust can be explained to some extent by differences in individual access.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/97213
    Series: Schumpeter discussion papers ; 2013-002
    Subjects: Trust; Financial Institutions; Access; India
    Scope: Online-Ressource (47 S.), graph. Darst.
  2. Business cycle effects of credit shocks in a DSGE model with firm defaults
    Author: Pesaran, M. Hashem; Xu, TengTeng
    Published: 2013
    Publisher:  Bank of Canada, Ottawa

    This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and volatility, and to study the impact of credit shocks on business cycle dynamics. Firms are identical ex ante but differ ex post due to... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 219 (2013,19)
    Inter-library loan:
    No inter-library loan

     

    This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and volatility, and to study the impact of credit shocks on business cycle dynamics. Firms are identical ex ante but differ ex post due to different realizations of firm-specific technology shocks, possibly leading to default by some firms. The paper advances a new modelling approach for the analysis of firm defaults and financial intermediation that takes account of the financial implications of such defaults for both households and banks. Results from a calibrated version of the model suggest that, in the steady state, a firm's default probability rises with its leverage ratio and the level of uncertainty in the economy. A positive credit shock, defined as a rise in the loan-to-deposit ratio, increases output, consumption, hours and productivity, and reduces the spread between loan and deposit rates. The effects of the credit shock tend to be highly persistent, even without price rigidities and habit persistence in consumption behavior.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/80797
    Series: Working paper / Bank of Canada ; 2013-19
    Subjects: Business fluctuations and cycles; Credit and credit aggregates; Economic models; Financial Institutions
    Scope: Online-Ressource (III, 46 S.), graph. Darst.