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Regulation, Financial Crises, and Liberalization Traps

Marchionne, Francesco - 2019

To reconcile the mixed empirical results, we develop a theoretical model whose main implication is a concave impact of regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to annual data from 1999 to 2011 drawn from 132...

Persistent link: https://www.econbiz.de/10012866557

The Political Economy of the G20 Agenda on Financial Regulation

Schuknecht, Ludger - 2020

The paper empirically examines the implementation record of international financial regulation of the banking sector. The study finds that the size of the banking sector and the presence of global systemically important banks (G-SIBs) are positively associated with a stronger implementation...

Persistent link: https://www.econbiz.de/10012824593

Fiscal Sustainability in the EU after the Global Crisis : Is There Any Progress?

Wysocki, Maciej - 2018

In response to the global crisis a number of new institutional measures have been introduced in the fiscal framework, both on the UE and on the member states’ level, and the question is: have these measures provided better fiscal sustainability outcomes? We approach this question by looking at...

Persistent link: https://www.econbiz.de/10012908672

Reasons for the Demise of Interest : Savings Glut and Secular Stagnation or Central Bank Policy?

Schnabl, Gunther - 2019

In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective low interest rates are attributed to ageing societies, which save more for the future (global savings glut). Low growth is...

Persistent link: https://www.econbiz.de/10012858697

Financial Policymaking after Crises : Public vs. Private Interests

Saka, Orkun; Ji, Yuemei; De Grauwe, Paul - 2021

We first present a simple model of post-crisis policymaking driven by both public and private interests. Using a novel dataset covering 94 countries between 1973 and 2015, we then establish that financial crises can lead to government interventions in financial markets. Consistent with a public...

Persistent link: https://www.econbiz.de/10013224071

Switching-Track after the Great Recession

Vinci, Francesca; Licandro, Omar - 2021

We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...

Persistent link: https://www.econbiz.de/10013224093

Price Discrimination Bans on Dominant Firms

Bouckaert, Jan; Degryse, Hans; Dijk, Theon van - 2021

Competition authorities and regulatory agencies sometimes impose pricing restrictions on firms with substantial market …-prices-to-sheltered-consumers decreases prices in the sheltered segment, relaxes competition in the competitive segment, increases the rival's profits, and … segment, lowers the rival's profits, and augments the consumer surplus. In particular, while second-period competition is …

Persistent link: https://www.econbiz.de/10013316614

Contests with size effects

Eggert, Wolfgang; Kolmar, Martin - 2004

competition on markets. …

Persistent link: https://www.econbiz.de/10010261093

On comparing the accuracy of default predictions in the rating industry

Kraemer, Walter; Güttler, André - 2008

We consider 1927 borrowers from 54 countries who had a credit rating by both Moody's and S&P at the end of 1998, and their subsequent default history up to the end of 2002. Viewing bond ratings as predicted probabilities of default, we consider partial orderings among competing probability...

Persistent link: https://www.econbiz.de/10010264293

Rating assignments: lessons from international banks

Caporale, Guglielmo Maria; Matousek, Roman; Stewart, Chris - 2009

This paper estimates ordered logit and probit regression models for bank ratings which also include a country index to capture country-specific variation. The empirical findings provide support to the hypothesis that the individual international bank ratings assigned by Fitch Ratings are...

Persistent link: https://www.econbiz.de/10010264612

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