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Regulating financial conglomerates
(CFAP, Cambridge Judge Business School, University of Cambridge, 2005)
We investigate the optimal regulation of financial conglomerates which combine a bank and a non-bank financial institution. The conglomerate’s risk-taking incentives depend upon the level of market discipline it faces, ...
Aggregate liquidity shortages, idiosyncracic liquidity smoothing and banking regulation
(CFAP, Cambridge Judge Business School, University of Cambridge, 2005)
This paper develops a model of banking fragility driven by aggregate liquidity shortages. Inefficiencies arise because liquidity smoothing across banks breaks down when there is such a shortage, causing unnecessary and ...
Deformation behaviour of bitumen and bituminous mixes
(University of Cambridge, 2005-03-15)
The main goal of this dissertation is to develop simple and accurate models for the
transient monotonic and cyclic deformation behaviour of bitumen and asphalt mixes.
The first part of this dissertation is concerned with ...
Systematic analysis of gene expression in human brains before and after death
(2005-12-30)
Abstract Background Numerous studies have employed microarray techniques to study changes in gene expression in connection with human disease, aging and evolution. The vast majority of human samples available for research ...
The US treasury market in August 1998: untangling the effects of Hong Kong and Russia with high frequency data
(CFAP, Cambridge Judge Business School, University of Cambridge, 2005-09)
The second half of August 1998 was dominated by two events. From 14 to 28 August, the Hong Kong Monetary Authority (HKMA) intervened in the Hong Kong equity markets to prevent a speculative double play against their ...
Simple open economy macro with comprehensive accounting: a two country model
(CFAP, Cambridge Judge Business School, University of Cambridge, 2005-02)
This paper presents a stock flow model of two economies (together comprising the whole world) which trade goods and financial assets with one another. The accounting framework, though comprehensive in its own terms, is ...
Synchronisation of financial crises
(CFAP, Cambridge Judge Business School, University of Cambridge, 2005-08)
This paper develops concordance indices for studying the simultaneous occurrence of financial crises. The indices are designed to cope with these typically low incidence events. This leads us to confine attention to ...
Credit derivatives, the liquidity of bank assets and banking stability
(CFAP, Cambridge Judge Business School, University of Cambridge, 2005)
The emerging markets for credit derivatives have improved the liquidity of bank assets by providing banks with various new possibilities for selling and hedging their risks. This paper examines the consequences for banking ...
Credit derivatives and sovereign debt
(CFAP, Cambridge Judge Business School, University of Cambridge, 2005-10)
We study the introduction of credit protection on sovereign debt. We find that such protection reduces debtor moral hazard by allowing a bonghokder to improve his position in negotiations with the sovereign. Moreover, ...