2012 Working Papers

#12-01
Financing Firms in India
Franklin Allen, Rajesh Chakrabarti, Sankar De, Jun Qian and Meijun Qian, December 2011
An older version of this paper appears as #06-08
This is the pre-publicaton version only. The final version has been published in the Journal of Financial Interemediation Volume 21, 409-445.

#12-02
Government Interventions – Restoring or Destructing Financial Stability in the Long-Run?
Aneta Hryckiewicz, January 2012

#12-03
The IPO of Industrial and Commercial Bank of China and the ‘Chinese Model’ of Privatizing Large Financial Institutions
Franklin Allen, Jun “QJ” Qian, Susan Chenyu Shan and Mengxin Zhao, January 2012
This is an updated version of #11-63

#12-04
Target-Date Funds in 401(k) Retirement Plans
Olivia S. Mitchell and Stephen P. Utkus, March 2012

#12-05
Financial Intermediation, Markets, and Alternative Financial Sectors
Franklin Allen, Elena Carletti, Jun “QJ” Qian and Patricio Valenzuela, March 2012

#12-06
Just How Big Is the Too Big to Fail Problem?
James R. Barth, Apanard (Penny) Prabha and Phillip Swagel, March 2012

#12-07
Resolving the African Financial Development Gap: Cross-Country Comparisons and a Within-Country Study of Kenya
Franklin Allen, Elena Carletti, Robert Cull, Jun Qian, Lemma Senbet and Patricio Valenzuela, April 2012
Forthcoming in NBER Volume on African Economic Successes, edited by S. Edwards, S. Johnson and D. Weil

#12-08
Stress Testing Banks
Til Schuermann, February 2013

#12-09
A Markov-Switching Multi-Fractal Inter-Trade Duration Model, with Application to U.S. Equities
Fei Chen, Francis X. Diebold and Frank Schorfheide, May 2012

#12-10
Stability and Growth Pact and Fiscal Discipline in the Eurozone
Victor Ngai, May 2012

#12-11
Improving Access to Banking: Evidence from Kenya
Franklin Allen, Elena Carletti, Robert Cull, Jun “QJ” Qian, Lemma Senbet and Patricio Valenzuela, July 2012

#12-12
Market Discipline during Crisis: Evidence from Bank Depositors in Transition Countries
Iftekhar Hasan, Krzysztof Jackowicz, Oskar Kowalewski and Łukasz Kozłowski, July 2012

#12-13
In What Form Will the Eurozone Emerge from the Crisis?
Franklin Allen and Victor Ngai, August 2012

#12-14
Does Corporate Governance Determine Corporate Performance and Dividends During Financial Crisis: Evidence from Poland
Oskar Kowalewski, September 2012

#12-15
Scenario Analysis in the Measurement of Operational Risk Capital: A Change of Measure Approach
Kabir K. Dutta and David F. Babbel, July 2012
An earlier version of this paper appears as Working Paper #10-10. This paper is forthcoming in the Journal of Risk and Insurance.

#12-16
Breaking (Banks) Up is Hard to Do: New Perspective on Too Big To Fail
James R. Barth and Apanard (Penny) Prabha, December 2012

#12-17
The Case for Bail-ins
Thomas F. Huertas

#12-18
Default and the International Role of the Dollar
Richard J. Herring