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Banking crises and boom-bust dynamics : evidence for Italy (1861-2016)

Bartoletto, Silvana; Chiarini, Bruno; Marzano, Elisabetta; … - 2018

., 2017), we analyze the linkage between banking crises and the business cycle in Italy over the last two centuries. The vast … literature on banking crises in Italy is dominated by the narrative approach. In this work we aim to advance the argument one …

Persistent link: https://www.econbiz.de/10011819402

Reserves as an instrument for preservation of financial stability : tthe case of EAC economies

Okello, Apaa Jimmy; Mkenda, Beatrice Kalinda; Luvanda, Eliab - 2020

Persistent link: https://www.econbiz.de/10012241262

Financial stability monitoring

Adrian, Tobias; Covitz, Daniel M.; Liang, Jean Nellie - 2013

While the Dodd-Frank Act (DFA) broadens the regulatory reach to reduce systemic risks to the U.S. financial system, it does not address some important risks that could migrate to or emanate from entities outside the federal safety net. At the same time, it limits the types of interventions by...

Persistent link: https://www.econbiz.de/10009721298

On the incidence of a financial transactions tax in a model with fire sales

Bierbrauer, Felix - 2012

This paper studies the impact of a financial transactions tax on a financial market where financial institutions trade with each other. Assets are marked to the market and financial institutions with negative equity are forced out of business. There are two main results: First, if all banks have...

Persistent link: https://www.econbiz.de/10009571254

Institutions, financial development, and small business survival : evidence from European emerging markets

Iwasaki, Ichirō; Kočenda, Evžen; Shida, Yoshisada - 2020

In this paper, we traced the survival status of 94,401 small businesses in 17 European emerging markets from 2007–2017 and empirically examined the determinants of their survival, focusing on institutional quality and financial development. We found that institutional quality and the level of...

Persistent link: https://www.econbiz.de/10012304241

Fire sales and ex ante valuation of systemic risk : a financial equilibrium networks approach

Bougheas, Spiros P.; Spencer, Adam Hal - 2022

We introduce endogenous fire sales into a simple network model. For any given initial distribution of shocks across the network, we develop a clearing algorithm to solve for the financial equilibrium. We then utilise the results to perform ex ante risk assessment and derive risk premia for every...

Persistent link: https://www.econbiz.de/10013457674

Why countries differ in thin capitalization rules : the role of financial development

Mardan, Mohammed - 2015

In the absence of financial frictions, the purpose of thin capitalization rules is to limit multinational firms’ possibilities of engaging in tax planning via debt shifting. This paper analyzes the effects of thin capitalization rules in the case where firms have limited access to external...

Persistent link: https://www.econbiz.de/10010506334

Cross-border banking in regulated markets : is financial integration desirable?

Haufler, Andreas; Wooton, Ian - 2016

untraded consumer goods in an uncertain productive environment, borrowing funds from a bank in either the home or the foreign … of bank failure is partly borne by taxpayers in the bank's home countries. Moreover, each bank chooses the share of its … lending allocated between domestic and foreign firms, but the bank's overall loan volume is fixed by a capital requirement set …

Persistent link: https://www.econbiz.de/10011554376

Treasury auctions and secondary market dynamics : an analysis based on the MTS market for Italy

Cafiso, Gianluca - 2015

deeper and more accurately these two findings by taking Italy as a case study. Our results question the so-called auction …

Persistent link: https://www.econbiz.de/10010519950

Uncertain booms and fragility

Lee, Michael Junho - 2018

I develop a framework of the buildup and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: "normal times", periods of modest investment, and "booms", periods of expansionary investment. Normal times occur when the...

Persistent link: https://www.econbiz.de/10011880642