Narrow search
Showing 1 - 10 of 203
Cover Image
Regulating a Multi-Utility Firm
Calzolari, Giacomo; Scarpa, Carlo - C.E.P.R. Discussion Papers - 2007
We study the regulation of a utility firm which is active in a competitive unregulated sector as well. If the firm … and quantity competition) and also optimal regulation. Accounting for the several effects of regulation on the unregulated … market, we show the existence of an informational externality, in that regulation provides useful information to the rival …
Persistent link: https://www.econbiz.de/10005124135
Cover Image
More Insiders, More Insider Trading: Evidence from Private Equity Buyouts
Acharya, Viral V; Johnson, Tim - C.E.P.R. Discussion Papers - 2007
. They are unlikely to be consistent with models of optimal regulation. …
Persistent link: https://www.econbiz.de/10005498160
Cover Image
Law Enforcement under Incomplete Law: Theory and Evidence from Financial Market Regulation
Pistor, Katharina; Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2003
the history of financial market regulation. …
Persistent link: https://www.econbiz.de/10005504579
Cover Image
Weathering the crisis and beyond: Perspectives for the Euro Area
Schmidt, Christoph M; Weigert, Benjamin - C.E.P.R. Discussion Papers - 2013
The euro area is experiencing a severe and highly complex crisis. It comprises three problem areas, the difficulties of some highly indebted European sovereigns to ascertain funding at palatable cost, the disconcerting fragility of the European banking system and disappointing growth prospects...
Persistent link: https://www.econbiz.de/10011083564
Cover Image
Business Groups in the United States: A Revised History of Corporate Ownership, Pyramids and Regulation, 1930-1950
Kandel, Eugene; Kosenko, Konstantin; Morck, Randall; … - C.E.P.R. Discussion Papers - 2013
The extent to which business groups ever existed in the United States and, if they did exist, the reasons for their disappearance are poorly understood. In this paper we use hitherto unexplored historical sources to construct a comprehensive data set to address this issue. We find that (1)...
Persistent link: https://www.econbiz.de/10011083947
Cover Image
Complementing Bagehot: Illiquidity and insolvency resolution
Eijffinger, Sylvester C W; Nijskens, Rob - C.E.P.R. Discussion Papers - 2011
During the recent financial crisis, central banks have provided liquidity and governments have set up rescue programmes to restore confidence and stability, often against the LLR principle advocated by Bagehot. Using a model of a systemic bank suffering from liquidity shocks, we find that the...
Persistent link: https://www.econbiz.de/10009320403
Cover Image
A primer on unconventional monetary policy
Bofinger, Peter; Debes, Sebastian - C.E.P.R. Discussion Papers - 2010
Due to the severity of the financial market crisis most central banks reached the limits of their traditional monetary policy instruments and relied to a very large extent on instruments of unconventional monetary policy. In our paper we develop a simple theoretical framework for the money...
Persistent link: https://www.econbiz.de/10008468505
Cover Image
Regulatory Reform After the Crisis: Opportunities and Pitfalls
Beck, Thorsten - C.E.P.R. Discussion Papers - 2010
The recent crisis has led to a thriving academic and policy debate on the future regulation of financial institutions … market-restricting approach to regulation; it would imply price-based capital and liquidity regulation, rather than …
Persistent link: https://www.econbiz.de/10008468512
Cover Image
The lender of last resort: liquidity provision versus the possibility of bail-out
Eijffinger, Sylvester C W; Nijskens, Rob - C.E.P.R. Discussion Papers - 2010
Banking regulation has proven to be inadequate to guard systemic stability in the recent financial crisis. Central …
Persistent link: https://www.econbiz.de/10008468710
Cover Image
Accounting discretion of banks during a financial crisis
Huizinga, Harry; Laeven, Luc - C.E.P.R. Discussion Papers - 2009
This paper presents evidence of banks using accounting discretion to overstate the value of distressed assets. In particular, we show that the stock market applies far greater discounts to a bank’s real estate loans and mortgage-backed securities than are implicit in the book values of these...
Persistent link: https://www.econbiz.de/10004973976