Results 241 to 250 of about 247,863 (382)

Asset Pricing and Risk‐Sharing Implications of Alternative Pension Plan Systems

open access: yesThe Journal of Finance, EarlyView.
ABSTRACT We show that incorporating defined benefit pension funds in an incomplete markets asset pricing model improves its ability to match the historical equity premium and riskless rate and has important risk‐sharing implications. We document the importance of the pension fund's size and asset demands, and a new risk channel arising from ...
NUNO COIMBRA   +3 more
wiley   +1 more source

Second Chance: Life with Less Student Debt

open access: yesThe Journal of Finance, EarlyView.
ABSTRACT We exploit an episode of plausibly random debt discharge due to the loss of paperwork for thousands of defaulted borrowers to examine the effects of private student debt relief on borrower outcomes. We find that borrowers who receive debt relief (treated) experience declines in debt balances and delinquency rates on other accounts, and ...
MARCO DI MAGGIO   +2 more
wiley   +1 more source

Monetary Policy, Inflation, and Crises: Evidence from History and Administrative Data

open access: yesThe Journal of Finance, EarlyView.
ABSTRACT We show that a U‐shaped monetary rate path increases banking crisis risk, via credit and asset price cycles, analyzing 17 countries over 150 years. Rate hikes (raw or instrumented) increase crisis risk, but only if preceded by prolonged cuts. These patterns are unique to banking crises, unlike noncrisis recessions.
GABRIEL JIMÉNEZ   +3 more
wiley   +1 more source

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