Transparency in the banking sector: a microeconomic analysis of informational aspects in the credit market
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| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Hamburg
Kovač
2008
|
| Series: | Schriftenreihe volkswirtschaftliche Forschungsergebnisse
140 |
| Subjects: | |
| Online Access: | Ausführliche Beschreibung Inhaltsverzeichnis |
| Physical Description: | XVIII, 158 S. graph. Darst. |
| ISBN: | 9783830039266 |
Staff View
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| 100 | 1 | |a Eickhoff, Andreas |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Transparency in the banking sector |b a microeconomic analysis of informational aspects in the credit market |c Andreas Eickhoff |
| 264 | 1 | |a Hamburg |b Kovač |c 2008 | |
| 300 | |a XVIII, 158 S. |b graph. Darst. | ||
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| 490 | 1 | |a Schriftenreihe volkswirtschaftliche Forschungsergebnisse |v 140 | |
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| 650 | 7 | |a Bank |2 stw | |
| 650 | 7 | |a Entscheidung bei Unsicherheit |2 stw | |
| 650 | 7 | |a Kreditmarkt |2 stw | |
| 650 | 7 | |a Kreditrationierung |2 stw | |
| 650 | 4 | |a Kreditwesen - Kreditrestriktion - Transparenz | |
| 650 | 7 | |a Kreditwürdigkeit |2 stw | |
| 650 | 7 | |a Theorie |2 stw | |
| 650 | 7 | |a Unvollkommene Information |2 stw | |
| 650 | 7 | |a Wettbewerb |2 stw | |
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Record in the Search Index
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|---|---|
| adam_text | Contents
1 Introduction 1
2 The role of transparency in uncertain environments 11
2.1 Decision making under uncertainty................ 13
2.2 Definition and economic consequences of market transparency . 18
2.2.1 Transparency and information systems.......... 18
2.2.2 How do agents act in a transparent market?....... 21
2.2.3 Welfare effects of market transparency.......... 23
2.3 Measuring the level of transparency................ 26
2.3.1 More transparency according to Blackwell........ 26
2.3.2 More transparency according to Lehmann........ 33
2.3.3 More transparency according to Kim........... 35
2.3.4 Comparison of the transparency notions - Part I..... 38
2.4 Welfare effects under the different transparency notions..... 40
2.4.1 The individual value of higher market transparency ... 40
2.4.2 Comparison of the transparency notions - Part II .... 43
2.4.3 A discussion on the validity of welfare effects....... 45
2.5 Equivalence of the transparency notions in binary settings ... 47
2.6 Conclusion.............................. 54
3 The banking sector 55
3.1 Basic principles and the existence of banks............ 55
3.1.1 Definition of a bank and its relation to other market
participants......................... 55
3.1.2 Why do banks exist?.................... 57
3.2 The different types of uncertainty and their resolution...... 61
3.2.1 Uncertainty in bank - depositor relations......... 61
3.2.2 Uncertainty in bank - debtor relations .......... 63
3.2.3 Uncertainty in interbank relations............. 66
X Contents
3.3 Transparency in the interbank market...............67
3.3.1 The model..........................67
3.3.2 Economic consequences of higher market transparency . 70
3.4 Conclusion..............................73
4 Equilibrium credit rationing and credit market transparency 75
4.1 Equilibrium credit rationing according to Stiglitz and Weifi (1981) 77
4.1.1 The model.......................... 80
4.1.2 Average expected unit returns............... 82
4.1.3 Market equilibrium under adverse selection........ 84
4.1.4 Properties of market equilibrium ............. 90
4.2 The effects of market transparency on equilibrium credit rationing 92
4.2.1 The informativeness of a rating technology........ 92
4.2.2 Credit rates and average expected unit returns...... 94
4.2.3 Equilibrium in the banking sector............. 99
4.2.4 Properties of market equilibrium ............. 102
4.2.5 Comparative statics..................... 112
4.3 Conclusion.............................. 117
5 The nature of competition under individual rating systems 121
5.1 Competition under homogeneous rating systems.........122
5.2 Heterogeneous rating systems and action sets ..........131
5.3 Competition under heterogeneous rating systems.........138
5.3.1 Credit market equilibrium - Part I ............139
5.3.1.1 Complete banking service............144
5.3.1.2 Incomplete banking service...........147
5.3.2 Credit market equilibrium - Part II............149
5.4 Conclusion..............................153
6 Summary 155
List of symbols XI
Bibliography XIII
|
| adam_txt |
Contents
1 Introduction 1
2 The role of transparency in uncertain environments 11
2.1 Decision making under uncertainty. 13
2.2 Definition and economic consequences of market transparency . 18
2.2.1 Transparency and information systems. 18
2.2.2 How do agents act in a transparent market?. 21
2.2.3 Welfare effects of market transparency. 23
2.3 Measuring the level of transparency. 26
2.3.1 More transparency according to Blackwell. 26
2.3.2 More transparency according to Lehmann. 33
2.3.3 More transparency according to Kim. 35
2.3.4 Comparison of the transparency notions - Part I. 38
2.4 Welfare effects under the different transparency notions. 40
2.4.1 The individual value of higher market transparency . 40
2.4.2 Comparison of the transparency notions - Part II . 43
2.4.3 A discussion on the validity of welfare effects. 45
2.5 Equivalence of the transparency notions in binary settings . 47
2.6 Conclusion. 54
3 The banking sector 55
3.1 Basic principles and the existence of banks. 55
3.1.1 Definition of a bank and its relation to other market
participants. 55
3.1.2 Why do banks exist?. 57
3.2 The different types of uncertainty and their resolution. 61
3.2.1 Uncertainty in bank - depositor relations. 61
3.2.2 Uncertainty in bank - debtor relations . 63
3.2.3 Uncertainty in interbank relations. 66
X Contents
3.3 Transparency in the interbank market.67
3.3.1 The model.67
3.3.2 Economic consequences of higher market transparency . 70
3.4 Conclusion.73
4 Equilibrium credit rationing and credit market transparency 75
4.1 Equilibrium credit rationing according to Stiglitz and Weifi (1981) 77
4.1.1 The model. 80
4.1.2 Average expected unit returns. 82
4.1.3 Market equilibrium under adverse selection. 84
4.1.4 Properties of market equilibrium . 90
4.2 The effects of market transparency on equilibrium credit rationing 92
4.2.1 The informativeness of a rating technology. 92
4.2.2 Credit rates and average expected unit returns. 94
4.2.3 Equilibrium in the banking sector. 99
4.2.4 Properties of market equilibrium . 102
4.2.5 Comparative statics. 112
4.3 Conclusion. 117
5 The nature of competition under individual rating systems 121
5.1 Competition under homogeneous rating systems.122
5.2 Heterogeneous rating systems and action sets .131
5.3 Competition under heterogeneous rating systems.138
5.3.1 Credit market equilibrium - Part I .139
5.3.1.1 Complete banking service.144
5.3.1.2 Incomplete banking service.147
5.3.2 Credit market equilibrium - Part II.149
5.4 Conclusion.153
6 Summary 155
List of symbols XI
Bibliography XIII |
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| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
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| dewey-search | 332.7 |
| dewey-sort | 3332.7 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
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| series2 | Schriftenreihe volkswirtschaftliche Forschungsergebnisse |
| spelling | Eickhoff, Andreas Verfasser aut Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market Andreas Eickhoff Hamburg Kovač 2008 XVIII, 158 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Schriftenreihe volkswirtschaftliche Forschungsergebnisse 140 Zugl.: Bielefeld, Univ., Diss., 2008 Bank stw Entscheidung bei Unsicherheit stw Kreditmarkt stw Kreditrationierung stw Kreditwesen - Kreditrestriktion - Transparenz Kreditwürdigkeit stw Theorie stw Unvollkommene Information stw Wettbewerb stw Transparenz (DE-588)4185917-0 gnd rswk-swf Kreditwesen (DE-588)4032950-1 gnd rswk-swf Kreditrestriktion (DE-588)4125607-4 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Kreditwesen (DE-588)4032950-1 s Kreditrestriktion (DE-588)4125607-4 s Transparenz (DE-588)4185917-0 s DE-604 Schriftenreihe volkswirtschaftliche Forschungsergebnisse 140 (DE-604)BV011622667 140 text/html http://www.verlagdrkovac.de/978-3-8300-3926-6.htm Ausführliche Beschreibung HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016993172&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Eickhoff, Andreas Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market Schriftenreihe volkswirtschaftliche Forschungsergebnisse Bank stw Entscheidung bei Unsicherheit stw Kreditmarkt stw Kreditrationierung stw Kreditwesen - Kreditrestriktion - Transparenz Kreditwürdigkeit stw Theorie stw Unvollkommene Information stw Wettbewerb stw Transparenz (DE-588)4185917-0 gnd Kreditwesen (DE-588)4032950-1 gnd Kreditrestriktion (DE-588)4125607-4 gnd |
| subject_GND | (DE-588)4185917-0 (DE-588)4032950-1 (DE-588)4125607-4 (DE-588)4113937-9 |
| title | Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market |
| title_auth | Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market |
| title_exact_search | Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market |
| title_exact_search_txtP | Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market |
| title_full | Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market Andreas Eickhoff |
| title_fullStr | Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market Andreas Eickhoff |
| title_full_unstemmed | Transparency in the banking sector a microeconomic analysis of informational aspects in the credit market Andreas Eickhoff |
| title_short | Transparency in the banking sector |
| title_sort | transparency in the banking sector a microeconomic analysis of informational aspects in the credit market |
| title_sub | a microeconomic analysis of informational aspects in the credit market |
| topic | Bank stw Entscheidung bei Unsicherheit stw Kreditmarkt stw Kreditrationierung stw Kreditwesen - Kreditrestriktion - Transparenz Kreditwürdigkeit stw Theorie stw Unvollkommene Information stw Wettbewerb stw Transparenz (DE-588)4185917-0 gnd Kreditwesen (DE-588)4032950-1 gnd Kreditrestriktion (DE-588)4125607-4 gnd |
| topic_facet | Bank Entscheidung bei Unsicherheit Kreditmarkt Kreditrationierung Kreditwesen - Kreditrestriktion - Transparenz Kreditwürdigkeit Theorie Unvollkommene Information Wettbewerb Transparenz Kreditwesen Kreditrestriktion Hochschulschrift |
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| volume_link | (DE-604)BV011622667 |
| work_keys_str_mv | AT eickhoffandreas transparencyinthebankingsectoramicroeconomicanalysisofinformationalaspectsinthecreditmarket |