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
相关论文
共 50 条
  • [41] Do securitized real estate markets jump? International evidence
    Li, Jie
    Li, Guangzhong
    Zhou, Yinggang
    [J]. PACIFIC-BASIN FINANCE JOURNAL, 2015, 31 : 13 - 35
  • [42] Monopoly Rents and Price Fixing in Betting Markets
    David Paton
    Leighton Vaughan Williams
    [J]. Review of Industrial Organization, 2001, 19 : 265 - 278
  • [43] NEW TESTS OF CALENDAR EFFECTS ON EQUITY AND SECURITIZED REAL ESTATE MARKETS
    Hui, Eddie C. M.
    Chan, Ka Kwan Kevin
    [J]. INTERNATIONAL JOURNAL OF STRATEGIC PROPERTY MANAGEMENT, 2018, 22 (04) : 314 - 336
  • [44] Unsecured credit markets are not insurance markets
    Athreya, Kartik
    Tam, Xuan S.
    Young, Eric R.
    [J]. JOURNAL OF MONETARY ECONOMICS, 2009, 56 (01) : 83 - 103
  • [45] Monopoly rents and price fixing in betting markets
    Paton, D
    Williams, LV
    [J]. REVIEW OF INDUSTRIAL ORGANIZATION, 2001, 19 (03) : 265 - 278
  • [46] Banks, markets, and efficiency
    Fecht F.
    Martin A.
    [J]. Annals of Finance, 2009, 5 (2) : 131 - 160
  • [47] Liquidity, banks, and markets
    Diamond, DW
    [J]. JOURNAL OF POLITICAL ECONOMY, 1997, 105 (05) : 928 - 956
  • [48] On the coexistence of banks and markets
    Gersbach, Hans
    Uhlig, Harald
    [J]. SCANDINAVIAN JOURNAL OF ECONOMICS, 2007, 109 (02): : 225 - 243
  • [49] Commitment, banks and markets
    Antinolfi, Gaetano
    Prasad, Suraj
    [J]. JOURNAL OF MONETARY ECONOMICS, 2008, 55 (02) : 265 - 277
  • [50] THE PRICE POLICY OF BANKS AND SAVINGS BANKS IN CREDIT TRANSACTIONS
    LIPFERT, H
    [J]. ZEITSCHRIFT FUR BETRIEBSWIRTSCHAFT, 1964, 34 (03): : 161 - 171
12345