, maximize put option value - by pursuing riskier strategies. For safe banks with large charter value, however, the risk … value, and a risk measure, this paper develops a semi-parametric model for estimating the critical level of bank risk at … which put option value starts to dominate charter value. From these estimates, we infer the extent to which the risk …

will remain high. In this paper, we propose a methodology for estimating trend growth that draws on growth theory to …