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Lunchseminar in Economics: Government-funded research increasingly fuels invention

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Shareholder Liability and Bank Failure

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The Decline of Too Big to Fail

For globally systemically important banks (G-SIBs) withU.S. headquarters, we find large post-Lehman reductionsin market-implied probabilities of government bailout, alongwith big increases in debt financing costs for these banksafter controlling for insolvency risk. The data are consistentwith significant effectiveness for the official sector’s post-Lehman G-SIB failure-resolution intentions, laws, and rules.G-SIB creditors now appear to expect to…

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Lunchseminar in Economics: Individual counterfactuals with multidimensional unobserved heterogeneity

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8th Luxembourg Asset Management Summit – KEYNOTE SPEECH in Finance (17 October 2019)

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4th Annual Finance & Technology Symposium – 14.06.2019

The Luxembourg School of Finance proudly announces its4th Annual Symposium on Finance & TechnologyEmbracing Technology for Data Custody: Turning Threat into OpportunityBlockchain technology, high-end computing, artificial intelligence – The digital transformation is changing the ways in which financial institutions fulfill their role as data custodians. At the same time, FinTech firms leveraging on these technologies…

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Financing the Response to Climate Change: The Pricing and Ownership of U.S. Green Bonds

Estimates suggest that mitigating and adapting to climate change will cost trillions ofdollars. We study green bonds, which are bonds whose proceeds are used forenvironmentally sensitive purposes. After an overview of the U.S. corporate andmunicipal green bonds markets, we study pricing and ownership patterns using a simpleframework that incorporates assets with nonpecuniary utility. As predicted,…

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Consumption in Asset Returns

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Enforcement challenges in multi-level regulatory systems

The proliferation of multi-level regulatory systems poses challenges to effective enforcement of policy goals and legal rules when a multiplicity of actors is involved. This two-day colloquium aims to illuminate the diverse nature of these enforcement challenges in multi-level regulatory frameworks from different legal and academic disciplines.

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