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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
1

Market Illiquidity, Credit Freezes and Endogenous Funding Constraints

Bachmann, Manuel 01 1900 (has links) (PDF)
In this paper I propose a two-step theoretical extension of the baseline model by Diamond and Rajan (2011) and examine the amplification mechanisms when collateralized funding shocks are endogenously affected by liquidity shocks. Based on high returns on illiquid assets that are potentially available conditional on future fire sales, liquid banks increase their cash holdings by limiting term lending - a speculative motive of liquidity hoarding directly aggravated by a cash reduction due to increased haircuts on collateralized borrowing. As a result, funding liquidity shrinks steadily and credit freezes are more likely. On the other hand, illiquid banks refuse to sell more illiquid assets than necessary to meet depositors' claims - a speculative motive of illiquidity seeking indirectly amplified as fire sale prices are endogenously depressed via increased collateral requirements. Illiquid banks are forced to sell more assets, the problem of insolvency becomes more severe and market freezes are thus even more likely. / Series: Department of Economics Working Paper Series
2

Etude du déclin soudain du hêtre: effets de stress climatiques sur la sensibilité des arbres aux attaques de scolytes

La Spina, Sylvie 21 December 2011 (has links)
Au début des années 2000, les hêtraies ardennaises belges et des régions limitrophes ont connu un déclin soudain et intense. Des nécroses sont apparues sur les troncs, accompagnées d’attaques de scolytes xylomycophages et du développement de champignons secondaires. Des phénomènes similaires ont été signalés dans les années 1930s et 1940s en Belgique et en Allemagne. <p><p><p>Des coups de gel pourraient être à l’origine de ces épisodes de déclin. Pour tester cette hypothèse, plusieurs démarches complémentaires ont été utilisées.<p><p>•\ / Doctorat en Sciences agronomiques et ingénierie biologique / info:eu-repo/semantics/nonPublished

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