Browsing by Author "Jungherr, Joachim"

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  • Jungherr, Joachim (2016-03)
    This paper studies a model of endogenous bank opacity. In the model, bank opacity is costly for society because it reduces market discipline and encourages banks to take on too much risk. This is true even in the absence ...
  • Jungherr, Joachim; Schott, Immo (2018-05)
    We introduce long-term debt (and a maturity choice) into a standard model of firm financing and investment. This allows us to study two distortions of investment: (1.) Debt dilution distorts firms’ choice of debt which has ...