A note on selling distressed loans with bank bailouts: modeling of bank interest margins with default probabilities
學年 100
學期 1
出版（發表）日期 2012-01-01
作品名稱 A note on selling distressed loans with bank bailouts: modeling of bank interest margins with default probabilities
作品名稱（其他語言）
著者 Lin, Jyh-Horng; Lin, Jyh-Jiuan; Chang, Ching-Hui
單位 淡江大學統計學系
出版者 Abingdon: Routledge
著錄名稱、卷期、頁數 Applied Economics Letters 19(7), pp.623-627
摘要 This article extends the framework of Merton (1974) with Vassalou and Xing (2004) to value a troubled but solvent bank’s equity by explicitly incorporating distressed assets purchased by the government in an imperfectly competitive loan market. We show that the bank may be willing to take this bailout when the purchased amount is relatively small and the margin is relatively low. However, the bank may be harder to entice even when the unit price of the bailed-out assets subsidized by the government is relatively high. As a consequence, most of the first half of the Troubled Asset Relief Program’s money is not used to buy troubled assets (Wilson, 2010).
關鍵字
語言 en_US
ISSN 1466-4291
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者 Lin, Jyh-Jiuan
審稿制度 否
國別 GBR
公開徵稿
出版型式 ,電子版,紙本
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