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Kicking the Can Down the Road : Government Interventions in the European Banking Sector
Acharya, Viral V. - 2020
an econometric approach that addresses the endogeneity associated with governmental bailout decisions in identifying …
Persistent link: https://www.econbiz.de/10012481392
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Optimal Bailouts and the Doom Loop with a Financial Network
Capponi, Agostino - 2020
optimal bailout policy in the presence of this "doom loop". Rescuing banks with high domestic sovereign exposure is optimal if … these banks are sufficiently central in the network, even though that requires larger bailout expenditures than rescuing low …
Persistent link: https://www.econbiz.de/10012481658
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Efficient Bailouts?
Bianchi, Javier - 2012
We develop a quantitative equilibrium model of financial crises to assess the interaction between ex-post interventions in credit markets and the buildup of risk ex ante. During a systemic crisis, bailouts relax balance sheet constraints and mitigate the severity of the recession. Ex ante, the...
Persistent link: https://www.econbiz.de/10012460074
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Debt Fragility and Bailouts
Cooper, Russell - 2012
This paper studies debt fragility and the sharing of the resulting strategic uncertainty through ex post bailouts. Default arises in equilibrium because of both fundamental shocks and beliefs. The probability of default depends on borrowing rates and, in equilibrium, on the beliefs of lenders...
Persistent link: https://www.econbiz.de/10012460282
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Contagion Effects of the Silicon Valley Bank Run
Choi, Dong Beom; Goldsmith-Pinkham, Paul; Yorulmazer, Tanju - National Bureau of Economic Research - 2023
This paper analyzes the contagion effects associated with the failure of Silicon Valley Bank (SVB) and identifies bank-specific vulnerabilities contributing to the subsequent declines in banks' stock returns. We find that uninsured deposits, unrealized losses in held-to-maturity securities, bank...
Persistent link: https://www.econbiz.de/10014421197
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Das (Wasted) Kapital : Firm Ownership and Investment Efficiency in China
Dollar, David - 2007
Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China … regions and sectors. By our calculation, if China succeeds in allocating its capital more efficiently, it could reduce its …
Persistent link: https://www.econbiz.de/10012465551
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Optimal Bailouts in Banking and Sovereign Crises
Hur, Sewon; Sosa Padilla, César; Yom, Zeynep - National Bureau of Economic Research - 2021
We study optimal bailout policies in the presence of banking and sovereign crises. First, we use European data to …
Persistent link: https://www.econbiz.de/10012482628
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Optimal Policy for Macro-Financial Stability
Benigno, Gianluca - 2019
There is a new and now extensive literature analyzing government policies for financial stability based on models with endogenous borrowing constraints. These normative analyses often build upon the concept of constrained efficient allocation, where the social planner is constrained by the same...
Persistent link: https://www.econbiz.de/10012480341
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Bailouts and the Preservation of Competition
Roberts, James W. - 2010
competitors as the firms leaving the market. We quantify these effects in the case of the 1984 bailout of timber companies that … faced substantial losses on existing federal timber contracts. We predict that the bailout substantially increased sale … prices in subsequent auctions because firms that might have might have been induced to enter without the bailout tended to …
Persistent link: https://www.econbiz.de/10012462006
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Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts
Farhi, Emmanuel - 2009
policy is non-targeted. The ex post benefits from a monetary bailout accrue in proportion to the number amount of leverage … bailout instruments is endogenous and characterize the structure of optimal bailouts …
Persistent link: https://www.econbiz.de/10012463512