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Government Guarantees and Bank Risk Taking Incentives
Fischer, Markus; Hainz, Christa; Rocholl, Jörg; … - CESifo - 2014
This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of guarantees for German Landesbanken which results in lower credit ratings, higher funding costs, and a loss in franchise value. This removal was announced in 2001, but...
Persistent link: https://www.econbiz.de/10010752789
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Early Warning System for Economic and Financial Risks in Kazakhstan
Bhattacharyay, Biswa N.; Dlugosch, Dennis; Kolb, Benedikt; … - CESifo - 2009
This paper proposes a macro-prudential financial soundness analysis that can be used by most developing and transformation countries with or without crisis experience as well as by developed countries with limited data. The objective is to detect economic and financial sector vulnerability,...
Persistent link: https://www.econbiz.de/10008534036
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Towards a Macroprudential Surveillance and Remedial Policy Formulation System for Monitoring Financial Crisis
Bhattacharyay, Biswa N. - CESifo - 2009
Several developing economies witnessed a large number of systemic financial and currency crises since the 1980s which resulted in severe economic, social, and political problems. The devastating impact of the 1982 and 1994-95 Mexican crises, the 1997-98 Asian financial crisis, the 1998 Russian...
Persistent link: https://www.econbiz.de/10008583704
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A Look Upstream: Electricity Market Restructuring, Risk, Procurement Contracts and Efficiency
Maria, Corrado Di; Lange, Ian A.; Lazarova, Emiliya - CESifo - 2014
This paper analyzes theoretically and empirically how upstream markets are affected by deregulation downstream …. Deregulation tends to increase the level of uncertainty in the upstream market. Our theoretical analysis predicts that deregulated … plants. On the other hand, we also find that transaction costs may have increased as a consequence of deregulation. …
Persistent link: https://www.econbiz.de/10011099762
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Deregulation, Entry of Foreign Banks and Bank Efficiency in Australia
Sturm, Jan-Egbert; Williams, Barry - CESifo - 2002
This study considers the efficiency of banking in Australia during the post-deregulation period 1988-2001. Since 1986 … banks have used size as a barrier to entry to the new entrants in the post-deregulation period. Furthermore, bank efficiency … seems to have increased post-deregulation and the competition resulting from diversity in bank types was important to prompt …
Persistent link: https://www.econbiz.de/10005766073
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The Regulator's Trade-off: Bank Supervision vs. Minimum Capital
Buck, Florian; Schliephake, Eva - CESifo - 2012
We develop a simple model of banking regulation with two policy instruments: minimum capital requirements and supervision of domestic banks. The regulator faces a trade-off: high capital requirements cause a drop in the banks’ profitability, while strict supervision reduces the scope of...
Persistent link: https://www.econbiz.de/10010877943
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Controlling Product Risks when Consumers are Heterogeneously Overconfident: Producer Liability vs. Minimum Quality Standard Regulation
Baniak, Andrzej; Grajzl, Peter - CESifo - 2014
Contributing to the literature on the consequences of behavioral biases for market outcomes and institutional design, we contrast producer liability and minimum quality standard regulation as alternative means of social control of product-related torts when consumers are heterogeneously...
Persistent link: https://www.econbiz.de/10010948857
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Is Medicines Parallel Trade ‘Regulatory Arbitrage’?
Costa-i-Font, Joan - CESifo - 2015
In the European Union, medicines are regulated products subject to both single market (e.g., regional exhaustion of property rights) and country specific health care regulations (e.g., medicines pricing and distribution regulation). This gives rise to parallel trade (PT), a phenomenon that takes...
Persistent link: https://www.econbiz.de/10011274346
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Hurricane Insurance in Florida
Jametti, Mario; Ungern-Sternberg, Thomas von - CESifo - 2009
This paper studies the evolution of hurricane insurance in Florida over the last decades. Hurricanes (and other natural catastrophes) are typically referred to as “uninsurable” risks. The more exposed property owners find it difficult to obtain insurance cover from the private market and/or...
Persistent link: https://www.econbiz.de/10005013949
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How Effective are Advertising Bans? On the Demand for Quality in Two-Sided Media Markets
Greiner, Tanja; Sahm, Marco - CESifo - 2011
We study a two-sided markets model of two competing television stations that offer content of differentiated quality to ad-averse consumers and advertising space to firms. As all consumers prefer high over low quality content, competition for viewers is vertical. By contrast, competition for...
Persistent link: https://www.econbiz.de/10009221558