Similar Search Results

Unobservable savings, risk sharing and default in the financial system

Panetti, Ettore - Volkswirtschaftliche Fakultät, … - 2011

In the present paper, I analyze how unobservable savings affect risk sharing and bankruptcy decisions in the financial … incomplete. Therefore, their presence is not a rationale for government intervention on bankruptcy via "resolution regimes …

Persistent link: https://www.econbiz.de/10008869270

Making OTC Derivatives Safe; A Fresh Look

Singh, Manmohan - International Monetary Fund (IMF) - 2011

Recent regulatory efforts, especially in the U.S. and Europe, are aimed at reducing moral hazard so that the next financial crisis is not bailed out by tax payers. This paper looks at the possibility that central counterparties (CCPs) may be too-big-to-fail entities in the making. The present...

Persistent link: https://www.econbiz.de/10008876583

The Impact of Legislationon Credit Risk; Comparative Evidence From the United States, the United Kingdom and Germany

Schmieder, Philipp; Schmieder, Christian - International Monetary Fund (IMF) - 2011

This study investigates the link between bankruptcy and security legislation and potential credit losses faced by banks …

Persistent link: https://www.econbiz.de/10008876595

Probabilities of Default and the Market Price of Risk in a Distressed Economy

Basurto, Miguel A. Segoviano; Espinoza, Raphael A. - International Monetary Fund (IMF) - 2011

We propose an original method to estimate the market price of risk under stress, which is needed to correct for risk aversion the CDS-implied probabilities of distress. The method is based, for simplicity, on a one-factor asset pricing model. The market price of risk under stress (the...

Persistent link: https://www.econbiz.de/10009019585

Mexico's retrogression: implications of a bankruptcy reorganization gone wrong

Porzecanski, Arturo C. - Volkswirtschaftliche Fakultät, … - 2011

Mexico is retrogressing, becoming an unpredictable and risky jurisdiction for the adjudication of legitimate claims involving domestic and international lenders and investors. This conclusion follows from an analysis of the precedent-setting corporate workout involving a major Mexican...

Persistent link: https://www.econbiz.de/10009372574

Küresel Kriz ve Finansal Aracılarda Risk Yönetimi: Beyaz Sayfa Mı?

Coskun, Yener; Kayacan, Murad - Volkswirtschaftliche Fakultät, … - 2011

Abstract One of the impacts of financial liberalisation/deregulation to the risk management and regulation mechanisms is self regulation. In the context of self regulation, it is expected that financial intermediaries may internally develop risk management rules, define capital level based on...

Persistent link: https://www.econbiz.de/10009372609

The need for revised resolution regimes and supervisory arrangements

Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2011

In October 2010, having drawn crucial lessons fom the Financial Crisis which was triggered in 2007, and whose impact was still evident at the time, the Financial Stability Board Recommendations on systemically important financial institutions „called for an assessment, on the basis of the BCBS...

Persistent link: https://www.econbiz.de/10009323446

Central bank’s role and involvement in bank regulation: Lender of last resort arrangements and the Special Resolution Regime (SRR)

Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2009

This paper considers developments which have necessitated greater involvement and a greater role for the central bank in financial regulation and supervision. The aftermath of the 2007/08 financial crisis has witnessed the enactment of legislation such as the Banking Act of 2009 which has not...

Persistent link: https://www.econbiz.de/10009323454

The river sharing problem: A review of the technical literature for policy economists

Beard, Rodney - Volkswirtschaftliche Fakultät, … - 2011

over-allocated. Demand for water exceeds the available supply. Essentially, the water economy is bankrupt. Bankruptcy … of the paper is that the connection between the bankruptcy literature, which has recently also realized the importance of …

Persistent link: https://www.econbiz.de/10009353530

Are the Bankrupt Skies the Friendliest?

Ciliberto, Federico; Schenone, Carola - Volkswirtschaftliche Fakultät, … - 2010

We use data from the US airline industry to investigate whether firms that are under bankruptcy protection, as well as … delays and cancelations are less frequent during bankruptcy filings but return to their pre-bankruptcy levels once the … bankrupt firm emerges from bankruptcy. We also find that firms use Chapter 11 filings to permanently reduce the age of their …

Persistent link: https://www.econbiz.de/10008642683