Motives and Consequences of Libor Misreporting : How Much Can We Learn from Banks ' Self-Reported Borrowing Rates ? ∗

@inproceedings{Bonaldi2017MotivesAC,
  title={Motives and Consequences of Libor Misreporting : How Much Can We Learn from Banks ' Self-Reported Borrowing Rates ? ∗},
  author={Pietro Bonaldi},
  year={2017}
}
  • Pietro Bonaldi
  • Published 2017
Libor is an estimate of interbank borrowing costs computed daily from rates self-reported by a xed panel of banks. There is evidence suggesting that several banks manipulated these rates in recent years by misreporting their borrowing costs. In this paper, I use structural econometric methods from the empirical auctions literature to estimate a model of… CONTINUE READING