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Central Banking and Financial Stability in the Long Run
Cao, Jin - 2013
Most theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality central … bankruptcy. We term these factors discipline and stability effects, respectively. The central bank's welfare decreases with …
Persistent link: https://www.econbiz.de/10013080504
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The Effects of Systemic Banking Crises in the Inter-War Period
Rocha, Bruno - 2015
This paper examines the time-profile of the impact of systemic banking crises on GDP and industrial production using a panel of 24 countries over the inter-war period and compares this to the post-war experience of these countries. We show that banking crises have effects that induce medium-term...
Persistent link: https://www.econbiz.de/10013024666
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Is Economic Recovery a Myth? Robust Estimation of Impulse Responses
Teulings, Coen N. - 2013
There is a lively debate on the persistence of the current banking crisis' impact on GDP. Impulse Response Functions (IRF) estimated by Cerra and Saxena (2008) suggest that the effects of earlier crises were long-lasting. We show that standard estimates of IRFs are highly sensitive to...
Persistent link: https://www.econbiz.de/10013094806
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Competition and Stability in Banking
Vives, Xavier - 2013
I review the state of the art of the academic theoretical and empirical literature on the potential trade-off between competition and stability in banking. There are two basic channels through which competition may increase instability: by exacerbating the coordination problem of...
Persistent link: https://www.econbiz.de/10013094726
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Banking Crises and Crisis Dating : Theory and Evidence
Boyd, John H.; De Nicolo, Gianni; Loukoianova, Elena - 2021
-based measures of systemic bank shocks (SBS). These measures differ from “banking crisis” (BC) indicators employed in many empirical … studies, which are constructed using primarily information on government actions undertaken in response to bank distress … that BC indicators actually measure lagged policy responses to systemic bank shocks. We then re-examine the impact of …
Persistent link: https://www.econbiz.de/10013316186
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Bank Bailouts, International Linkages and Cooperation
Niepmann, Friederike - 2011
intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While …
Persistent link: https://www.econbiz.de/10013128043
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Banking Crisis Resolution Policy - Lessons from Recent Experience - Which Elements are Needed for Robust and Efficient Crisis Resolution?
Mayes, David G. - 2013
The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international efforts to coordinate and converge on such policies, national policy advice and resolution practices differ. The resolution methods adopted in the Nordic banking crises in the...
Persistent link: https://www.econbiz.de/10013095558
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The International Monetary Fund : 70 Years of Reinvention
Reinhart, Carmen - 2016
A sketch of the International Monetary Fund's 70-year history reveals an institution that has reinvented itself over time along multiple dimensions. This history is primarily consistent with a “demand driven” theory of institutional change, as the needs of its clients and the type of crisis...
Persistent link: https://www.econbiz.de/10013000216
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Did Globalization Influence Credit Market Deregulation?
Eppinger, Peter - 2015
We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of the Fraser Institute. The results from both...
Persistent link: https://www.econbiz.de/10013021420
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The Regulatory Response to the Financial Crisis
Goodhart, Charles A. E. - CESifo - 2008
turmoil has thrown up issues for discussion. These include: 1. The scale and scope of deposit insurance; 2. Bank insolvency … regimes, also known as ‘prompt corrective action’; 3. Money market operations by Central Banks; 4. Commercial bank liquidity …
Persistent link: https://www.econbiz.de/10005766304