We find that both the aggregate issuance of bonds, and the volume of commercial and industrial loans outstanding in the US, respond to fluctuations in industrial production and interest rates, but in opposite directions. This empirical result suggests that universal banks can reduce the cyclical fluctuations of their income, by jointly providing direct lending and security underwriting services
Dia, E., Casalin, F. (2010). The Diversification Benefits of Universal Banking [Working paper del dipartimento].
The Diversification Benefits of Universal Banking
DIA, ENZO;CASALIN, FABRIZIO
2010
Abstract
We find that both the aggregate issuance of bonds, and the volume of commercial and industrial loans outstanding in the US, respond to fluctuations in industrial production and interest rates, but in opposite directions. This empirical result suggests that universal banks can reduce the cyclical fluctuations of their income, by jointly providing direct lending and security underwriting services
File in questo prodotto:
| File | Dimensione | Formato | |
|---|---|---|---|
|
The_Diversification_Benefits_of_Universal_Banking.pdf
accesso aperto
Tipologia di allegato:
Other attachments
Dimensione
52.36 kB
Formato
Adobe PDF
|
52.36 kB | Adobe PDF | Visualizza/Apri |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
