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A Behavioral Approach to Financial Supervision, Regulation, and Central Banking
Khan, Ashraf - 2018
This paper describes how behavioral elements are relevant to financial supervision,regulation, and central banking. It …
Persistent link: https://www.econbiz.de/10012912488
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Macroprudential Stress Tests : A Reduced-Form Approach to Quantifying Systemic Risk Losses
Alla, Zineddine - 2018
We present a novel approach that incorporates individual entity stress testing and losses from systemic risk effects (SE losses) into macroprudential stress testing. SE losses are measured using a reduced-form model to value financial entity assets, conditional on macroeconomic stress and the...
Persistent link: https://www.econbiz.de/10012907939
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Politically Robust Financial Regulation
Agur, Itai - 2021
The deferred recognition of COVID-induced losses at banks in many countries hasreignited the debate on regulatory forbearance. This paper presents a model where thepublic's own political pressure drives regulatory policy astray, because the public is poorlyinformed. Using probabilistic game...
Persistent link: https://www.econbiz.de/10013243078
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Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis
Khan, Ashraf - 2017
Drawing on the 2016 update of the IMF's Central Bank Legislation Database, this paper examines differences in central bank legal frameworks before and after the Global Financial Crisis. Examples from select countries show that many central bank laws have undergone changes in objectives,...
Persistent link: https://www.econbiz.de/10012956503
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Changes in Prudential Policy Instruments - A New Cross-Country Database
Cerutti, Eugenio - 2016
This paper documents the features of a new database that focuses on changes in the intensity in the usage of several widely used prudential tools, taking into account both macro-prudential and micro-prudential objectives.The database coverage is broad, spanning 64 countries, and with quarterly...
Persistent link: https://www.econbiz.de/10012977860
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The Regulatory Responses to the Global Financial Crisis : Some Uncomfortable Questions
Claessens, Stijn - 2014
We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into...
Persistent link: https://www.econbiz.de/10013055666
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Dampening Global Financial Shocks : Can Macroprudential Regulation Help (More than Capital Controls)?
Bergant, Katharina - 2020
We show that macroprudential regulation can considerably dampen the impact of globalfinancial shocks on emerging … markets. More specifically, a tighter level of regulation reducesthe sensitivity of GDP growth to VIX movements and capital … andliquidity, foreign currency mismatches, and risky forms of credit. We also find that tightermacroprudential regulation allows …
Persistent link: https://www.econbiz.de/10012828057
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Reconsidering Bank Capital Regulation : A New Combination of Rules, Regulators, and Market Discipline
Rochon, Céline - 2014
system of capital regulation that addresses these needs by making changes to all three pillars of bank regulation: only …
Persistent link: https://www.econbiz.de/10013045939
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Fintech and Payments Regulation : Analytical Framework
Khiaonarong, Tanai - 2020
, and effective regulation. Recent developments suggest that regulatory approaches and their legal foundations need to … augment entity-based regulation with increasing focus on activities and risks as market structure changes. This paper draws on …
Persistent link: https://www.econbiz.de/10012830835
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Calibrating Macroprudential Policies in Europe Amid Rising Housing Market Vulnerability
Valderrama, Laura - 2023
Housing market developments are in the spotlight in Europe. Over-stretched valuations amid tightening financial conditions and a cost-of-living crisis have increased risks of a sustained downturn and exposed challenging trade-offs for macroprudential policy between ensuring financial system...
Persistent link: https://www.econbiz.de/10014355770