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Topics in Banking and Finance (ECO-AD-BANKFIN)

ECO-AD-BANKFIN


Department ECO
Course category ECO Advanced courses
Course type Course
Academic year 2022-2023
Term BLOCK 2
Credits ,5 (EUI Economics Department)
Professors
Contact Simonsen, Sarah
Sessions

18/11/2022 15:00-17:00 @ Seminar Room 3rd Floor,V. la Fonte

25/11/2022 15:00-17:00 @ Seminar Room 3rd Floor,V. la Fonte

02/12/2022 16:00-18:00 @ Seminar Room 3rd Floor,V. la Fonte

09/12/2022 15:00-17:00 @ Seminar Room 3rd Floor,V. la Fonte

16/12/2022 15:00-17:00 @ Seminar Room 3rd Floor,V. la Fonte

Purpose

Professor: Thorsten Beck

TBC


This course aims to provide an overview of the recent empirical banking literature, touching on different topics such as the macro-prudential regulation, fintech, lending techniques and sustainable finance. The evaluation consists on a referee report and/or a seminar presentation of a paper (sessions 2 –
5) that is part of the syllabus.

Lectures (5 sessions) – Note: the list of papers below is indicative and it is subject to change by the time the course is taught.

Lecture 1: Bank lending technologies
- Mian, Atif R. (2006), “Distance Constraints: The Limits of Foreign Lending in Poor Economies”, Journal of Finance 61, 1465–1505.
- Beck, Thorsten, Vasso Ioannidou and Larissa Schäfer. 2018. “Foreigners vs. Natives: Bank Lending Technologies and Loan Pricing”, Management Science 64, 3792-3820.
- Beck, Thorsten, Hans Degryse, Ralph De Haas and Neeltje van Horen. 2018. “When Arm’s Length Is Too Far. Relationship Banking over the Credit Cycle”, Journal of Financial Economics 127, 176-194.

Lecture 2: Deposit Funding and Banks’ Lending Policies
- Artavanis, N. , C. Robles-Garcia, A. Seru, and M. Tsoutsoura, "Deposit Withdrawals," Working Paper (https://cepr.org/sites/default/files/deposit_withdrawals_2.pdf)
- Carletti, E., F. De Marco, V. Ioannidou, and E. Sette, 2020, “Banks as Patient Lenders: Evidence from a Tax Reform”, Journal of Financial Economics, forthcoming.
- Drechsler, I., Savov, A., Schnabl, P., “Banking on deposits: maturity transformation without interest rate risk”, Journal of Finance, forthcoming.
- Lei Li, Elena Loutskina & Philip E. Strahan, 2019, “Deposit Market Power, Funding Stability and Long-Term Credit”, NBER wp: https://www.nber.org/papers/w26163

Lecture 3: FinTechs and Financial Intermediation
- Berg, T., V. Burg, A. Gombovic, and M. Puri, 2020, “On the Rise of FinTechs: Credit Scoring using Digital Footprints”, Review of Financial Studies, 33(7), 2845-2897.
- Fuster A, Goldsmith-Pinkham P, Ramadorai T, Walther A, 2020, “Predictably Unequal? The Effect of Machine Learning on Credit Markets”, The Journal of Finance.

Lecture 4: Monetary and Macroprudential Policy
- Jiménez Gabriel, Steven Ongena, José Luis Peydró and Jesús Saurina, 2014, Hazardous times for monetary policy: What do twenty-three million bank loans say about the effects of monetary policy on credit risk?, Econometrica, 82 (2), 463-505 
- Ioannidou Vasso, Steven Ongena and José Luis Peydró, 2015, Monetary policy, risktaking and pricing: Evidence from a quasi-natural experiment, Review of Finance

Lecture 5: Sustainable finance
- Hartzmark, S. M. and A. B. Sussman (2019): Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows, Journal of Finance 74, 2789-2837.
- Riedl, A. and P. Smeets (2017): Why Do Investors Hold Socially Responsible Mutual Funds? Journal of Finance 72, 2505-2550.

List of papers to choose from for the referee report: tbc

(Tips / advice: Berk, J. B., Harvey, C. R., and Hirshleifer, D. 2017. How to write an effective referee report and improve the scientific review process.
Journal of Economic Perspectives 31(1):
231 – 244. Available here: https://pubs.aeaweb.org/doi/pdf/10.1257/jep.31.1.231)

Description

 tba

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Page last updated on 21 September 2018

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