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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

Dynamic R&D Choice and the Impact of the Firm's Financial Strength

Peters, Bettina - 2016

This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from...

Persistent link: https://www.econbiz.de/10012997893

Unemployment in the Great Recession : A Comparison of Germany, Canada and the United States

Hoffmann, Florian - 2014

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …

Persistent link: https://www.econbiz.de/10013043619

Bank Examiners’ Information and Expertise and Their Role in Monitoring and Disciplining Banks Before and During the Panic of 1893

Calomiris, Charles W. - 2018

We examine whether examiners were informed and contributed to the health of the banking sector. Information included quantitative information that was eventually made public, quantitative information that remained private, and subjective information dependent on the examiner's production of...

Persistent link: https://www.econbiz.de/10012922979

Capital Requirements in a Quantitative Model of Banking Industry Dynamics

Corbae, Dean; D'Erasmo, Pablo - 2021

We develop a model of banking industry dynamics to study the quantitative impact of capital requirements on equilibrium bank risk taking, commercial bank failure, interest rates on loans, and market structure. We propose a market structure where big banks with market power interact with small,...

Persistent link: https://www.econbiz.de/10013310583

Predatory Lending and the Subprime Crisis

Agarwal, Sumit - 2013

We measure the effect of an anti-predatory pilot program (Chicago, 2006) on mortgage default rates to test whether predatory lending was a key element in fueling the subprime crisis. Under the program, risky borrowers and/or risky mortgage contracts triggered review sessions by housing...

Persistent link: https://www.econbiz.de/10013074282

The Credit Rating Crisis

Benmelech, Efraim - 2010

Since June 2007, the creditworthiness of structured finance products has deteriorated rapidly. The number of downgrades in November 2007 alone exceeded 2,000 and many downgrades were severe, with 500 tranches downgraded more than 10 notches. Massive downgrades continued in 2008. More than 11,000...

Persistent link: https://www.econbiz.de/10013152566

Systemic Risk Exposures : a 10-by-10-by-10 Approach

Duffie, Darrell - 2013

Here, I present and discuss a "10-by-10-by-10" network-based approach to monitoring systemic financial risk. Under this approach, a regulator would analyze the exposures of a core group of systemically important financial firms to a list of stressful scenarios, say 10 in number. For each...

Persistent link: https://www.econbiz.de/10013092573

Risky Investments with Limited Commitment

Cooley, Thomas F. - 2013

Over the last three decades there has been a dramatic increase in the size of the financial sector and in the compensation of financial executives. This increase has been associated with greater risk-taking and the use of more complex financial instruments. Parallel to this trend, the...

Persistent link: https://www.econbiz.de/10013073564

Kicking the Can Down the Road : Government Interventions in the European Banking Sector

Acharya, Viral V.; Borchert, Lea; Jager, Maximilian; … - 2022

We analyze the determinants and the long-run consequences of government interventions in the eurozone banking sector during the 2008/09 financial crisis. Using a novel and comprehensive dataset, we document that fiscally constrained governments “kicked the can down the road” by providing...

Persistent link: https://www.econbiz.de/10013295279

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