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Testing Macroprudential Stress Tests : The Risk of Regulatory Risk Weights
Acharya, Viral V. - 2013
Macroprudential stress tests have been employed by regulators in the United States and Europe to assess and address the solvency condition of financial firms in adverse macroeconomic scenarios. We provide a test of these stress tests by comparing their risk assessments and outcomes to those from...
Persistent link: https://www.econbiz.de/10013083085
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Kicking the Can Down the Road : Government Interventions in the European Banking Sector
Acharya, Viral V.; Borchert, Lea; Jager, Maximilian; … - 2022
, eventually, greater reliance on liquidity support from the European Central Bank …
Persistent link: https://www.econbiz.de/10013295279
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The "Greatest" Carry Trade Ever? Understanding Eurozone Bank Risks
Acharya, Viral V. - 2013
We show that Eurozone bank risks during 2007-2012 can be understood as a "carry trade" behavior. Bank equity returns … exploit government guarantees, arbitrage regulatory risk weights, and access central-bank funding, we find that this carry …-GIPSI countries' banks, but not so for similar banks in other Western economies or for non-bank firms …
Persistent link: https://www.econbiz.de/10013082158
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Seeking Alpha : Excess Risk Taking and Competition for Managerial Talent
Acharya, Viral V. - 2013
We present a model in which managers are risk-averse and firms compete for scarce managerial talent ("alpha"). When managers are not mobile across firms, firms provide efficient compensation, which allows for learning about managerial talent and for insurance of low-quality managers. When...
Persistent link: https://www.econbiz.de/10013085052