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DEEP Séminaires en Macroéconomie

The DEEP organizes a workshop covering a wide array of Macro topics, including growth, business cycles, monetary models, equilibrium asset pricing, labor markets, macro-econometrics, …

Presentations are 1h15, including questions from the audience. The workshop is open to external and internal speakers. 

Send an email to Fang.Liu.2@unil.ch for further information.

Adverse selection and banking market structure

Guillaume Vuillemey (HEC Paris)

17 octobre 2017  -  12:15-13:30, salle Extranef 109

Host(s): Jean-Paul Renne

Banks mitigate adverse selection in capital markets by producing costly information about borrowers. We study the severity of residual information problems as reflected in the industrial structure of the US banking market. We show that banks are more likely to expand in counties similar to those in which they already have branches. Furthermore, banks are more likely to contract in counties which are more similar those in which they keep operating. These results show that banks face informational limits to diversification. Perhaps surprisingly, banks do not overcome information frictions through acquisitions: they are more likely to acquire branches in more similar areas. We conclude that, even after accounting for intermediation, misallocation of capital is likely to remain significant due to information problems. 


Liste des prochaines séances

14 novembre 2017 Money Velocity and the Natural Rate of Interest
Luca Benati (University of Bern)
Host(s): Jean-Paul Renne
12:15-13:30, salle Extranef 125

click here [↓] to go to the attached pdf

Plus d'information
28 novembre 2017 Affine Modelling of Credit Risk, Pricing of Credit Events and Contagion
Jean-Paul Renne (HEC Lausanne)
12:15-13:30, salle Extranef 110

click here [↓] to go to the attached pdf

Plus d'information
6 mars 2018 Christoph Trebesh (Kiel University)
Host(s): Andreas Tischbirek
12:15-13:30, salle Extranef 125

click here [↓] to go to the attached pdf
20 mars 2018 Andreas Tischbirek (HEC Lausanne)

click here [↓] to go to the attached pdf
>> Liste des séances précédentes

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