Bayesian persuasion and information design
E Kamenica - Annual Review of Economics, 2019 - annualreviews.org
A school may improve its students' job outcomes if it issues only coarse grades. Google can
reduce congestion on roads by giving drivers noisy information about the state of traffic. A …
reduce congestion on roads by giving drivers noisy information about the state of traffic. A …
Information disclosure in financial markets
I Goldstein, L Yang - Annual Review of Financial Economics, 2017 - annualreviews.org
Information disclosure is an essential component of regulation in financial markets. In this
article, we provide a cohesive analytical framework to review certain key channels through …
article, we provide a cohesive analytical framework to review certain key channels through …
Where the risks lie: A survey on systemic risk
We review the extensive literature on systemic risk and connect it to the current regulatory
debate. While we take stock of the achievements of this rapidly growing field, we identify a …
debate. While we take stock of the achievements of this rapidly growing field, we identify a …
Stress tests and small business lending
Post-crisis stress tests have altered banks' credit supply to small business. Banks most
affected by stress tests reallocate credit away from riskier markets and toward safer ones …
affected by stress tests reallocate credit away from riskier markets and toward safer ones …
Should banks' stress test results be disclosed? An analysis of the costs and benefits
I Goldstein, H Sapra - Foundations and Trends® in Finance, 2014 - nowpublishers.com
Stress tests have become an important component of the supervisory toolkit. However, the
extent of disclosure of stress-test results remains controversial. We argue that while stress …
extent of disclosure of stress-test results remains controversial. We argue that while stress …
Lending implications of US bank stress tests: Costs or benefits?
The US bank stress tests aim to improve financial system stability. However, they may also
affect bank credit supply. We formulate and test opposing hypotheses about these effects …
affect bank credit supply. We formulate and test opposing hypotheses about these effects …
Liquidity hoarding and interbank market rates: The role of counterparty risk
We develop a model of interbank lending and borrowing with counterparty risk. The model
has two key ingredients. First, liquidity in the banking sector is endogenous, so there is an …
has two key ingredients. First, liquidity in the banking sector is endogenous, so there is an …
Delayed expected loss recognition and the risk profile of banks
RM Bushman, CD Williams - Journal of Accounting Research, 2015 - Wiley Online Library
This paper investigates the extent to which delayed expected loan loss recognition (DELR)
is associated with greater vulnerability of banks to three distinct dimensions of risk:(1) stock …
is associated with greater vulnerability of banks to three distinct dimensions of risk:(1) stock …
Costly persuasion
M Gentzkow, E Kamenica - American Economic Review, 2014 - aeaweb.org
We study the design of informational environments in settings where generating information
is costly. We assume that the cost of a signal is proportional to the expected reduction in …
is costly. We assume that the cost of a signal is proportional to the expected reduction in …
[图书][B] Technological change, financial innovation, and diffusion in banking
THE commercial banking business has changed dramatically over the past 30 years, due in
large part to technological change. 1 Advances in telecommunications, information …
large part to technological change. 1 Advances in telecommunications, information …