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Cyclical adjustment of capital requirements: a simple framework

Repullo, Rafael - London School of Economics (LSE) - 2013

We present a model of an economy with heterogeneous banks that may be funded with uninsured deposits and equity capital …. Capital serves to ameliorate a moral hazard problem in the choice of risk. There is a fixed aggregate supply of bank capital …, so the cost of capital is endogenous. A regulator sets risk-sensitive capital requirements in order to maximize a social …

Persistent link: https://www.econbiz.de/10011171760

A social constructivist analysis of the 2007 banking crisis: building trust and transparency through community currencies

Breitstein, Lance; Dini, Paolo - London School of Economics (LSE) - 2011

This article examines the 2007 banking crisis from an interdisciplinary and, in particular, social constructivist perspective to identify its structural and systemic causes. After presenting and explaining a wide meta-theoretical framework that can accommodate different understandings of...

Persistent link: https://www.econbiz.de/10010884691

Recovery rates, default probabilities and the credit cycle

Bruche, Max; Gonzalez-Aguado, Carlos - London School of Economics (LSE) - 2006

Recovery rates are negatively related to default probabilities (Altman et al., 2005). This paper proposes and estimates a model in which this dependence is the result of an unobserved credit cycle: When times are bad, the default probability is high and recovery rates are low; when times are...

Persistent link: https://www.econbiz.de/10010746498

Written evidence given by Professor Alexander Pepper of the London School of Economics and Political Science to the UK Parliamentary Commission on banking standards

Pepper, Alexander - London School of Economics (LSE) - 2013

My contention is that many of the current problems with 'Bankers’ Pay' have their origins in the dismantling of the formal and informal institutions which regulated the labour markets in the financial centres in London and New York prior to 1986-1987.

Persistent link: https://www.econbiz.de/10010746618

Regulating financial market infrastructures

Ferrarini, Guido; Saguato, Paolo - London School of Economics (LSE) - 2014

This paper focuses on the impact of financial market infrastructures (FMIs) and of their regulation on the post-crisis transformation of securities and derivatives markets. It examines, in particular, the role that trading and post-trading FMIs, and their new regulatory regime, are playing in...

Persistent link: https://www.econbiz.de/10011125895

The end of bank secrecy? An evaluation of the G20 tax haven crackdown

Johannesen, Niels; Zucman, Gabriel - London School of Economics (LSE) - 2014

During the financial crisis, G20 countries compelled tax havens to sign bilateral treaties providing for exchange of bank information. Policymakers have celebrated this global initiative as the end of bank secrecy. Exploiting a unique panel dataset, our study is the first attempt to assess how...

Persistent link: https://www.econbiz.de/10011126343

Modelling and forecasting UK mortgage arrears and possessions

Aron, Janine; Muellbauer, John - London School of Economics (LSE) - 2010

This paper presents new models for aggregate UK data on mortgage possessions (foreclosures) and mortgage arrears (payment delinquencies). The innovations include the treatment of difficult to observe variations in loan quality and shifts in forbearance policy by lenders, by common latent...

Persistent link: https://www.econbiz.de/10011126430

The variable impact of the global economic crisis in South East Europe

Bartlett, Will; Prica, Ivana - London School of Economics (LSE) - 2012

This paper studies the variable impact of the global economic crisis on the post-communist countries of South East Europe and Turkey. The central question is whether the institutional reforms introduced in the former group of countries during the transition period have improved their ability to...

Persistent link: https://www.econbiz.de/10010884718

Central banks and financial crises

Buiter, Willem H. - London School of Economics (LSE) - 2008

The paper draws lessons from the experience of the past year for the conduct of central banks in the pursuit of macroeconomic and financial stability. Macroeconomic stability is defined as either price stability or as price stability and sustainable output or employment growth. Financial...

Persistent link: https://www.econbiz.de/10010745389

Arguing about financial regulation: comparing national discourses on the global financial crisis

Lodge, Martin; Wegrich, Kai - London School of Economics (LSE) - 2011

As we write, the world is still in the grips of a financial crisis. Germany was one of the first countries to bail out a bank in July 2007. Then, in September 2007, the United Kingdom (UK) witnessed a run on a building society, Northern Rock, and the subsequent widespread nationalization of its...

Persistent link: https://www.econbiz.de/10010745396