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Managing Systemic Liquidity Risk in Financially Dollarized Economies

Levy Yeyati, Eduardo - 2005

This paper evaluates ways to protect highly dollarized banking systems from systemic liquidity runs (such as the ones … the use of limited dollar liquidity to ensure the convertibility of transactional deposits with a mechanism that … automatically limits the convertibility of dollar term deposits once triggered by a predetermined decline in banks'' liquidity …

Persistent link: https://www.econbiz.de/10014404199

A Model of the Lender of Last Resort

Huang, Haizhou - 1999

This paper develops a model of the lender of last resort. It provides an analytical basis for “too big too fail” and a rationale for “constructive ambiguity”. Key results are that if contagion (moral hazard) is the main concern, the Central Bank (CB) will have an excessive (little)...

Persistent link: https://www.econbiz.de/10014400390

Liberalization and Financial Crisis in Uruguay (1974-1987)

Leone, Alfredo Mario - 1991

The financial system in Uruguay underwent a serious crisis beginning in 1982, which resulted in the failure of many banks and to a major restructuring of the financial system. This paper examines the causes and consequences of this crisis, exploring the relationship between developments in the...

Persistent link: https://www.econbiz.de/10014397344

The lender of last resort function after the global financial crisis

Dobler, Marc; Gray, Simon; Murphy, Diarmuid; … - 2016

The global financial crisis (GFC) has renewed interest in emergency liquidity support (sometimes referred to as 'Lender …

Persistent link: https://www.econbiz.de/10011436788

Bank Bailouts : Moral Hazard vs. Value Effect

Levy Yeyati, Eduardo - 1999

This paper shows that a central bank, by announcing and committing ex-ante to a bailout policy that is contingent on the realization of certain states of nature (for example on the occurrence of an adverse macroeconomic shock), creates a risk-reducing “value effect” that more than outweighs...

Persistent link: https://www.econbiz.de/10014400069

The impact of conflict and political instability on banking crises in developing countries

Compaoré, Ali; Mlachila, Montfort; Ouedraogo, Rasmane; … - 2020

While there is an extensive literature examining the economic impact of conflict and political instability, surprisingly there have been few studies on their impact on the probability of banking crises. This paper therefore investigates whether rising conflict and political instability globally...

Persistent link: https://www.econbiz.de/10012251282

The long shadow of the global financial crisis : public interventions in the financial sector

Igan, Deniz; Moussawi, Hala; Tieman, Alexander F.; … - 2019

We track direct public interventions and public holdings in 1,114 financial institutions over the period 2007-17 in 37 countries based on publicly available information. We use aggregate official data to validate this new dataset and estimate the fiscal impact of interventions, including the...

Persistent link: https://www.econbiz.de/10012102177

Taming financial development to reduce crises

Ben Naceur, Samy; Candelon, Bertrand; Lajaunie, Quentin - 2019

This paper assesses whether and how financial development triggers the occurrence of banking crises. It builds on a database that includes financial development as well as financial access, depth and efficiency for almost 100 countries. Through estimation of a dynamic logit panel model, it...

Persistent link: https://www.econbiz.de/10012021789

From Lombard Street to Avenida Paulista : Foreign Exchange Liquidity Easing in Brazil in Response to the Global Shock of 2008-09

Stone, Mark R. - 2009

The provision of foreign exchange liquidity by emerging market central banks during the global shock of 2008-09 departs … from the domestic liquidity lender of last resort role described by Bagehot in his classic ""Lombard Street."" This paper … documents and analyzes the foreign exchange liquidity providing measures of the Banco Central do Brasil (BCB) in response to …

Persistent link: https://www.econbiz.de/10014402073

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 focuses on (1) behavioral effects of norms (social, legal, and market); (2) behavior of others (internalization, identification, and compliance); and (3) psychological biases....

Persistent link: https://www.econbiz.de/10011905870

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