G - Financial Economics

• Securitization under Asymmetric Information over the Business Cycle

  Staff Working Paper 2015-9 Martin Kuncl

  This paper studies the efficiency of financial intermediation through securitization in a model with heterogeneous investment projects and asymmetric information about the quality of securitized assets. I show that when retaining part of the risk, the issuer of securitized assets may credibly signal its quality.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Economic models, Financial markets, Financial stability, Financial system regulation and policies JEL Code(s): E, E3, E32, E4, E44, G, G0, G01, G2, G20

• Motivations for Capital Controls and Their Effectiveness

  Staff Working Paper 2015-5 Radhika Pandey, Gurnain Pasricha, Ila Patnaik, Ajay Shah

  We assess the motivations for changing capital controls and their effectiveness in India, a country with extensive and long-standing controls. We focus on the controls on foreign borrowing that can, in principle, be motivated by macroprudential concerns.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rate regimes, Financial stability, Financial system regulation and policies, International topics JEL Code(s): F, F3, F32, G, G1, G15, G18