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Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing

Johan Hombert, Bruno Biais , Pierre-Olivier Weill   Mar 29,2021

Incentive problems make securities’ payoffs imperfectly pledgeable, limiting agents’ ability to issue liabilities. We analyze the equilibrium consequences of such... Read More

Model Secrecy and Stress Tests

Basil Williams , Yaron Leitner   Aug 29,2020

We study whether regulators should reveal the models they use to stress test banks. In our setting, revealing leads to... Read More

Model Secrecy and Stress Tests

Basil Williams , Yaron Leitner   Aug 29,2020

We study whether regulators should reveal the models they use to stress test banks. In our setting, revealing leads to... Read More

Model Secrecy and Stress Tests

Basil Williams , Yaron Leitner   Aug 29,2020

We study whether regulators should reveal the models they use to stress test banks. In our setting, revealing leads to... Read More

Monitor Reputation and Transparency

Ivan Marinovic , Martin Szydlowski   Sep 22,2020

We study the disclosure policy of a regulator overseeing a monitor with reputation concerns, such as a bank or... Read More

Monitor Reputation and Transparency

Ivan Marinovic , Martin Szydlowski   Sep 22,2020

We study the disclosure policy of a regulator overseeing a monitor with reputation concerns, such as a bank or... Read More

Renegotiation in Debt Chains

Christian Opp , Vincent Glode   Sep 28,2020

We develop a tractable model of strategic debt renegotiation in which businesses are sequentially interconnected through their liabilities. This financing... Read More

Renegotiation in Debt Chains

Christian Opp , Vincent Glode   Sep 28,2020

We develop a tractable model of strategic debt renegotiation in which businesses are sequentially interconnected through their liabilities. This financing... Read More

Renegotiation in Debt Chains

Christian Opp , Vincent Glode   Sep 28,2020

We develop a tractable model of strategic debt renegotiation in which businesses are sequentially interconnected through their liabilities. This financing... Read More

Renegotiation in Debt Chains

Christian Opp , Vincent Glode   Sep 28,2020

We develop a tractable model of strategic debt renegotiation in which businesses are sequentially interconnected through their liabilities. This financing... Read More