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Liquidity Risk, Liquidity Creation and Financial Fragility : A Theory of Banking
Diamond, Douglas W. - 2010
their investors. We show the bank has to have a fragile capital structure, subject to bank runs, in order to perform these … functions. Far from being an aberration to be regulated away, the funding of illiquid loans by a bank with volatile demand … such as narrow banking and bank capital requirements …
Persistent link: https://www.econbiz.de/10012763345
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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
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The Lessons from the Banking Panics in the United States in the 1930s for the Financial Crisis of 2007-2008
Bordo, Michael D. - 2011
recession caused by other forces. Based on a VAR and new data on the sources of bank failures in the 1930s from Richardson (2007 …), we find that illiquidity shocks played a key role in explaining the bank failures during the Friedman and Schwartz …
Persistent link: https://www.econbiz.de/10013132917
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Why Didn't Canada Have a Banking Crisis in 2008 (or in 1930, or 1907, or ...)?
Bordo, Michael D. - 2011
The financial crisis of 2008 engulfed the banking system of the United States and many large European countries. Canada was a notable exception. In this paper we argue that the structure of financial systems is path dependent. The relative stability of the Canadian banks in the recent crisis...
Persistent link: https://www.econbiz.de/10013121071
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Understanding Financial Crises : A Developing Country Perspective
Mishkin, Frederic S. - 2000
inforamtion framework shows why the banking sector is so important to the economy, and provides a rationale for bank regulation …
Persistent link: https://www.econbiz.de/10012789112
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Preventing Financial Crises : An International Perspective
Mishkin, Frederic S. - 2010
information analysis, this paper outlines what signals a central bank might look for to determine if a financial crisis is …
Persistent link: https://www.econbiz.de/10012763471
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How Did Pre-Fed Banking Panics End?
Gorton, Gary B. - 2016
liabilities (checking accounts). At the start of the suspension period, the private clearing houses cut off bank …
Persistent link: https://www.econbiz.de/10012997892
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Fire-Sale FDI or Business as Usual?
Alquist, Ron - 2018
Using a new data set, we examine the characteristics and dynamics of cross-border mergers and acquisitions during emerging-market financial crises, that is, so-called "fire-sale FDI". Our findings shed fresh light on whether the transactions undertaken during crisis periods differ in fundamental...
Persistent link: https://www.econbiz.de/10012938544
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How to Get Away with Merger : Stealth Consolidation and its Effects on Us Healthcare
Wollmann, Thomas - 2022
Only large mergers must be reported to the US government, so many anticompetitive deals may effectively avoid antitrust scrutiny. This paper uses data from the dialysis industry to show that premerger notifications are essential to antitrust enforcement and that ensuing enforcement actions...
Persistent link: https://www.econbiz.de/10013309219
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The European Crisis in the Context of the History of Previous Financial Crises
Bordo, Michael D. - 2013
There are some striking similarities between the pre 1914 gold standard and EMU today. Both arrangements are based on fixed exchange rates, monetary and fiscal orthodoxy. Each regime gave easy access by financially underdeveloped peripheral countries to capital from the core countries. But the...
Persistent link: https://www.econbiz.de/10013080834