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Safety-Net Benefits Conferred on Difficult-to-Fail-And-Unwind Banks in the Us and EU Before and During the Great Recession

Carbo-Valverde, Santiago - 2011

This paper models and estimates ex ante safety-net benefits at a sample of large banks in US and Europe during 2003-2008. Our results suggest that difficult-to-fail and unwind (DFU) banks enjoyed substantially higher ex ante benefits than other institutions. Safety-net benefits prove...

Persistent link: https://www.econbiz.de/10013130253

Cross-Country Causes and Consequences of the Crisis : An Update

Rose, Andrew Kenan - 2010

We update Rose and Spiegel (2009a, b) and search for simple quantitative models of macroeconomic and financial indicators of the "Great Recession" of 2008-09. We use a cross-country approach and examine a number of potential causes that have been found to be successful indicators of crisis...

Persistent link: https://www.econbiz.de/10013139743

Currency Unions and Trade : A Post-Emu Mea Culpa

Glick, Reuven - 2015

In our European Economic Review (2002) paper, we used pre-1998 data on countries participating in and leaving currency unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a variety of empirical gravity models to estimate the...

Persistent link: https://www.econbiz.de/10013015976

Evidence of Regulatory Arbitrage in Cross-Border Mergers of Banks in the EU

Carbo-Valverde, Santiago - 2010

banks in individual EU countries help to explain the nature of cross-border merger activity. If they wish to protect …

Persistent link: https://www.econbiz.de/10013150440

Evidence of Differences in the Effectiveness of Safety-Net Management in European Union Countries

Carbo-Valverde, Santiago - 2010

EU financial safety nets are social contracts that assign uncertain benefits and burdens to taxpayers in different … develops a way to estimate how well markets and regulators in 14 of the EU-15 countries have controlled deposit … safety-net benefits for individual EU financial institutions. For stockholder-owned banks, input data feature 1993-2004 data …

Persistent link: https://www.econbiz.de/10012759547

Incentive Conflict in Central-Bank Responses to Sectoral Turmoil in Financial Hub Countries

Kane, Edward J. - 2010

National safety nets are imbedded in country-specific regulatory cultures that encompass contradictory goals of nationalistic welfare maximization, merciful treatment of distressed institutions, and bureaucratic blame avoidance. Focusing on this goal conflict, this paper develops two hypotheses....

Persistent link: https://www.econbiz.de/10012759699

Can the European Community Afford to Neglect the Need for More Accountable Safety-Net Management?

Kane, Edward J. - 2010

As financial institutions and markets transact more and more cross-border business, gaps and flaws in national safety nets become more consequential. Because citizens of host (home) countries may be made to pay for mistakes made in the home (host) country, Basel's lead-regulator paradigm...

Persistent link: https://www.econbiz.de/10012761789

Inadequacy of Nation-Based and Var-Based Safety Nets in the European Union

Kane, Edward J. - 2009

-at-risk and bank capital make it unlikely that the crisis-prevention and crisis-resolution schemes incorporated in Basel II and EU …

Persistent link: https://www.econbiz.de/10012767381

Expected and Predicted Realignments : The Ff/Dm Exchange Rate During the EMS

Rose, Andrew Kenan; Svensson, Lars E. O. - 2021

An empirical model of time-varying realignment risk in an exchange rate target zone is developed. Expected rates of devaluation are estimated as the difference between interest race differentials and estimated expected rates of depreciation within the exchange rate band, using French...

Persistent link: https://www.econbiz.de/10013217941

European Exchange Rate Credibility Before the Fall

Rose, Andrew Kenan; Svensson, Lars E. O. - 2022

Realignment expectations which measure exchange rate credibility are analyzed for European exchange rates, using daily financial data since the inception of the EMS. It is difficult to find economically meaningful relationships between realignment expectations and macroeconomic variables,...

Persistent link: https://www.econbiz.de/10013324139