Showing 1 - 10 of 110
This article develops a model of bank runs and crises and analyses how the presence of a lender of last resort (LOLR) affects the solvency of the banking system. We obtain a one to one mapping from the depositors' equilibrium strategy to an optimal contract prevailing in the economy. The study...
Persistent link: https://www.econbiz.de/10005134718
In the Mexican Peso crisis 1994/95, the lack of readily available information, particularly regarding monetary aggregates, has often been commented on. This paper analyzes empirically whether information disparity with respect to economic fundamentals contributed to the crisis. Using historical...
Persistent link: https://www.econbiz.de/10005408154
’ unease when disseminating news to the markets and argues against the recent trend of demanding full transparency both for …
Persistent link: https://www.econbiz.de/10005550876
The costs and benefits of harmonization of international accounting and disclosure practices by firms is an important policy issue. This paper investigates the extent to which voluntary disclosure practices by Japanese firms have converged since the collapse of Japan’s financial ‘bubble’...
Persistent link: https://www.econbiz.de/10005556435
The Commonwealth Government asked the Productivity Commisison to review cost recovery arrangements across the Government's regulatory,administrative and information agencies,and to develop guidelines for the future application of cost recovery.
Persistent link: https://www.econbiz.de/10005556926
This paper presents estimates of six dimensions of governance covering 199 countries and territories for four time periods: 1996, 1998, 2000, and 2002. These indicators are based on several hundred individual variables measuring perceptions of governance, drawn from 25 separate data sources...
Persistent link: https://www.econbiz.de/10005561191
In late 2000, the Government asked the Commission to undertake a legislation review of Clause 6 of the Competition Principles Agreement (CPA) (requiring a National Access Regime) and Part IIIA of the Trade Practice Act 1974 and report within nine months. The Commission was asked to identify the...
Persistent link: https://www.econbiz.de/10005118927
emerging economies. We argue instead that sharper focus on external accountability is required, focusing on: transparency … financing reform, and transparency in parliaments, the judiciary and the executive. Recommendations on governance strategies for …
Persistent link: https://www.econbiz.de/10005561333
transparency We construct a model with imperfect information where banks cannot distinguish between aggregate shocks on the one …, significantly so in countries with poor transparency. …
Persistent link: https://www.econbiz.de/10005561599
The study of transparency is increasingly a more topical, broadly relevant, but also more under-researched enterprise …. The Asian financial crisis has highlighted not only the welfare consequences of financial sector transparency, sparking a … series of yet unresolved debates, but has also linked this relatively narrow problem to the broader context of transparency …
Persistent link: https://www.econbiz.de/10005561607