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Macroeconomic evolution after a shock: the role for financial intermediation
Vinogradov, Dmitri - EconWPA - 2003
An overlapping generations model with two production factors and two types of agents is considered in presence of …nancial intermediation. The research focuses at the analysis of the consequences of a suddain negative production shock on a …nancial intermediation capacities and consequently...
Persistent link: https://www.econbiz.de/10005126268
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Banks versus Markets in Processing the Payments Shock
Vinogradov, Dmitri - EconWPA - 2005
The paper focuses on a comparison of bank-based andmarket-based …nancial systems with respect to their ability to … period. In contrast, the bank-based system allows for both quick recovery and postponing and smoothing the negative …
Persistent link: https://www.econbiz.de/10005134734
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Bank Stability and Market Discipline: Debt-for-Equity Swap versus Subordinated Notes
Raviv, Alon - EconWPA - 2004
fixed income unless the value of the bank’s assets falls below a predetermined threshold. In such an event, the debt … obligation is automatically converted to the bank’s common equities. By using a contingent claims valuation approach we present … bank that includes DES or alternatively subordinated debt in its capital structure. We compare and evaluate quantitatively …
Persistent link: https://www.econbiz.de/10005413031
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Financial Liberalization Era in Turkey: Critique on Decree No.32
Koska, Onur - EconWPA - 2005
“Financial Liberalization” winds had blown for 1980s’ Turkey, affected from developed nations, resulted from the efforts of keeping in step with world trend, and hence the law that had been put into practice in 1989, “decree no.32”, had not only affected its era, also had left...
Persistent link: https://www.econbiz.de/10005076682
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Banking sector development and financial stability in the run up to EU accession
Brouwer, Henk; Haas, Ralph de; Kiviet, Bas - EconWPA - 2002
central bank and supervisory authorities, and strengthening the rule of law. …
Persistent link: https://www.econbiz.de/10005126335
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Fairly Priced Deposit Insurance and Bank Charter Policy
Craine, Roger - EconWPA - 1996
The thrust of current deposit insurance reform--risk-based insurance premiums and capital requirements--is an effort to price deposit insurance more fairly. Fairly pricing deposit insurance eliminates inequitable wealth transfers, but it does not lead to an efficient equilibrium. This paper...
Persistent link: https://www.econbiz.de/10005076957
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Implementing the efficient allocation in a model of financial intermediation
Green, Edward J.; Lin, Ping - EconWPA - 1996
In a finite-trader version of the Diamond-Dybvig (1983) model, the symmetric, ex-ante efficient allocation is implementable by a direct mechanism (i.e., each trader announces the type of his own ex-post preference) in which truthful revelation is the strictly dominant strategy for each trader....
Persistent link: https://www.econbiz.de/10005076965
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Banking Sector Crises and Related New Regulations in Turkey
Kibritcioglu, Aykut - EconWPA - 2005
In Turkey, the financial sector is traditionally dominated by banking activities, and the banking sector experienced several systemic crises since late 1970s. This paper reviews and summarizes the major banking sector problems in the country. It also outlines the latest regulations and reform...
Persistent link: https://www.econbiz.de/10005126288
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Implications of the design of monetary policy for financial stability
Herrero, Alicia García; López, Pedro del Río - EconWPA - 2003
the central bank objectives and the monetary policy strategy affect financial stability. We find that focusing the central … bank objectives on price stability reduces the likelihood of a banking crisis. This result is robust to several model …
Persistent link: https://www.econbiz.de/10005126392
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Monitoring Banking Sector Fragility
Kibritcioglu, Aykut - EconWPA - 2002
In the financial crisis literature, it is usually argued that, contrary to the case of currency crises, building a time series index to identify banking crisis episodes is highly difficult, particularly because of the lack of reliable data on banking sector variables (non-performing loans,...
Persistent link: https://www.econbiz.de/10005126447