Photo Vincent Bouvatier

VINCENT BOUVATIER

PROFESSEUR(E)

Research interests

  • arrow_right Economie bancaire
  • arrow_right Economie monétaire

Research group

    Macroéconomie internationale, finance, matières premières et économétrie financière

ORCID

HAL open science

Contact

2014-15

Bank Failures and the Source of Strength Doctrine

Vincent Bouvatier, Michael Brei, Xi Yang

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Abstract
This paper examines the determinants of bank failures in the US banking system during the recent financial crisis. The analysis employs a dataset on the financial statements of FDIC-insured commercial banks and their bank holding companies, along with information on bank failures, mergers, and acquisitions. The econometric evidence suggests that failed banks have been characterized by significantly higher loan growth rates, well ahead of the financial crisis, coupled with higher exposures to the mortgage market segment and to funding in the form of brokered deposits. We also find evidence that commercial banks have been less likely to fail, when they belonged to well-capitalized and profitable bank holding companies with lower exposures to short-term funding. Our results provide empirical support for the recent modifications in bank regulation and supervision which introduce countercyclical components for capital buffers and a more comprehensive supervision of consolidated banking groups
Mot(s) clé(s)
financial crises, bank failures, bank regulation
2013-4

Pension funds’allocations to hedge funds: an empirical analysis of US and Canadian defined benefit plans

Vincent Bouvatier, Sandra Rigot

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Abstract
This paper investigates the characteristics of US and Canadian pension funds that allocate assets to hedge funds. The typical pension fund that invests in hedge funds is a large sophisticated pension fund that diversi…es its portfolio across numerous classes of investments, private equity in particular, uses a core-satellite organization and has access to low delegation costs for alternative assets. Moreover, we …find that pension funds investing in hedge funds signi…ficantly obtained higher global returns.
Mot(s) clé(s)
pension funds, hedge funds, asset allocation, diversi…cation
2011-2

On the link between credit procyclicality and bank competition

Vincent Bouvatier, Antonia Lopez Villavicencio, Valérie Mignon

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Abstract
This paper investigates the relationship between bank competition and credit procyclicality for 17 OECD countries on the 1986-2009 period. We account for heterogeneity among countries in terms of bank competition through the use of a hierarchical clustering methodology. We then estimate panel VAR models for the identified sub-groups of economies to investigate whether credit procyclicality is more important when the degree of bank competition is high. Our findings show that while credit significantly responds to shocks to GDP, the degree of bank competition is not essential in assessing the procyclicality of credit for OECD countries.
Mot(s) clé(s)
Credit cycle; economic cycle; bank competition; financial stability; panel VAR.
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