BANKS RENTS IN SECURITIZED CREDIT MARKETS

被引：0
|
作者：
Ahn, Jung-Hyun [1 ]
Breton, Regis [2 ,3 ]
机构：
[1] Rouen Business Sch, Dept Econ & Finance, F-76825 Mont St Aignan, France
[2] Univ Orleans, CNRS, Orleans, France
[3] Univ Orleans, LEO, Orleans, France
来源：
REVUE ECONOMIQUE | 2010年 / 61卷 / 03期
关键词：
D O I：
10.3917/reco.613.0431
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We analyze the effect of loan securitization in a model where banks compete for borrowers over two periods. Our main result is that the adoption of the socalled "originate to distribute" model may adversely affect the efficiency of the credit market (through banks' reduced screening incentives) while leading to an increase in banks' overall profits. This effect is driven by competition in the primary credit market, and not by banks' attempts to exploit informational asymmetries in the secondary market for loans.
引用
收藏
页码：431 / 439
页数：9
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