The German financial system is the archetype of a bank-dominated system. This implies that organized equity markets are …

This paper distils three lessons for bank regulation from the experience of the 2009-12 euro-area financial crisis …. First, it highlights the key role that sovereign debt exposures of banks have played in the feedback loop between bank and …

We examine the impact of so-called Crisis Contracts on bank managers' risktaking incentives and on the probability of … occurs and that leads to a form of collective liability for bank managers. We develop a game-theoretic model of a banking … remuneration of bank managers. We establish conditions under which the introduction of Crisis Contracts will reduce the probability …

estimation. The analysis allows to distinguish between rents that accrue due to single bank lending, rents that accrue due to …

sample of bank loans contracted or guaranteed by 58 less-developed countries sovereigns in the period from 1983 to 1997. The … higher complexity of the pricing design makes bank loan optimal for lenders on sovereign capital markets, especially relative …