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To Buy or Not to Buy: Consumer Constraints in the Housing Market

Related publications (32)

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A test of inventory models with permissible delay in payment

Ralf Seifert, Olov Isaksson, Daniel Seifert

Contrary to the long-standing view in the finance literature that firms should maximise payment delays, research in operations management suggests that long payment delays can be suboptimal. In this study, we reconcile these two views by applying a seconda ...

2017

A View on Venetian Apprenticeship through the Garzoni Database

Giovanni Colavizza

A sample of contracts of apprenticeship from three periods in the history of early modern Venice is analysed, as recorded in the archive of the Giustizia Vecchia, a venetian magistracy. The periods are the end of the 16th century, the 1620s and the 1650s. ...

Universitas Studiorum2017

Uniqueness of equilibrium in a payment system with liquidation costs

Damir Filipovic, Léo Hamed Amini

We study a financial network where forced liquidations of an illiquid asset have a negative impact on its price, thus reinforcing network contagion. We give conditions for uniqueness of the clearing asset price and liability payments. Our main result holds ...

Elsevier Science Bv2016

What mobility for teenagers ? Results from a quantitative survey in five European countries

Vincent Kaufmann, Emmanuel Pierre Jean Ravalet, Guillaume Simon Joseph Drevon

This topic aims at understanding precisely what are the mobility behaviors and aspirations of people under 18. The increasing use of ICT enables a larger access to several information (vehicle availability, travel times, costs, etc.) and payment systems. D ...

2016

Credit Supply and the Macroeconomy

Abhik Mukherjee

The policy response to the recent financial crisis has broadly focused on two themes: 1) Increasing the banking sectorsâ resilience to future financial shocks: 2) Improving credit availability to households and firms via lowering both short and long-term ...

EPFL2016

Sound Proof of Proximity of Knowledge

Serge Vaudenay

Public-key distance bounding schemes are needed to defeat relay attacks in payment systems. So far, only five such schemes exist, but fail to fully protect against malicious provers. In this paper, we solve this problem. We provide a full formalism to defi ...

2015

Financing Investment: The choice between bonds and bank loans

Erwan Morellec, Philip Valta

We build a model of investment and financing decisions to study the choice between bonds and bank loans in a firm's marginal financing decision and its effects on corporate investment. We show that firms with more growth options, with higher bargaining pow ...

2015

Investment-based financing constraints and debt renegotiation

Michi Nishihara

We consider how equity holders' bargaining power during financial distress influences the interactions between financing and investment decisions when the firm faces the upper limit of debt issuance. We obtain four results. First, weaker equity holders' ba ...

Elsevier Science Bv2015

Essays in Empirical Corporate Finance

Stefano Colonnello

This dissertation consists of three chapters. The first chapter examines whether the availability of credit default swaps (CDS) has consequences for creditor governance. CDSs offer creditors the opportunity to hedge credit risk and may impact their willing ...

EPFL2015

Crowdsourcing Microdata for Cost-Effective and Reliable Lexicography

Martin Benjamin

Lexicography has long faced the challenge of having too few specialists to document too many words in too many languages with too many linguistic features. Great dictionaries are invariably the product of many person-years of labor, whether the lifetime wo ...

2015