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The History and Economics of Safe Assets
Gorton, Gary B. - 2016
Safe assets play a critical role in an(y) economy. A “safe asset” is an asset that is (almost always) valued at face value without expensive and prolonged analysis. That is, by design there is no benefit to producing (private) information about its value. And this is common knowledge....
Persistent link: https://www.econbiz.de/10012993225
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Procyclicality and Monetary Aggregates
Shin, Hyun Song - 2011
Financial intermediaries borrow in order to lend. When credit is increasing rapidly, the traditional deposit funding (core liabilities) is supplemented with other funding (non-core liabilities). We explore the hypothesis that monetary aggregates reflect the size of non-core and core liabilities...
Persistent link: https://www.econbiz.de/10013129118
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Refinancing, Monetary Policy, and the Credit Cycle
Amromin, Gene; Bhutta, Neil; Keys, Benjamin J. - 2021
literature on the role of refinancing in policy implementation. After briefly reviewing mortgage market institutions in the U ….S. and documenting refinance activity over time, we summarize the links between refinancing and consumption, and describe the … frictions impeding the refinancing channel. The paper draws heavily on research emerging from the experience of the financial …
Persistent link: https://www.econbiz.de/10013233751
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A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation
Rotemberg, Julio J. - 2010
A model is developed which rationalizes contracts that give depositors the right to obtain funds on demand even when depositors intend to use these funds for consumption in the future. This is explained by depositor overoptimism regarding their own ability to collect funds in a run. Capitalized...
Persistent link: https://www.econbiz.de/10013135051
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Determinants of Deposit-Insurance Adoption and Design
Demirgüç-Kunt, Asli - 2010
This paper identifies factors that influence decisions about a country's financial safety net, using a comprehensive dataset covering 180 countries during the 1960-2003 period. Our analysis focuses on how private interest-group pressures, outside influences, and political-institutional factors...
Persistent link: https://www.econbiz.de/10012760429
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Obstacles to Optimal Policy : The Interplay of Politics and Economics in Shaping Bank Supervision and Regulation Reforms
Kroszner, Randall - 2010
regulation system during the last two decades, the 1991 Federal Deposit Insurance Corporation Improvement Act (FDICIA). We …
Persistent link: https://www.econbiz.de/10012763752
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How to Restructure Failed Banking Systems : Lessons from the U.S. In the 1930's and Japan in the 1990's
Calomiris, Charles W. - 2009
reforms on bank capital regulation that credibly incorporate market discipline into the regulatory process would increase the …
Persistent link: https://www.econbiz.de/10012767753
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Runs Versus Lemons : Information Disclosure and Fiscal Capacity
Faria-e-Castro, Miguel - 2015
We study the optimal use of disclosure and fiscal backstops during financial crises. Providing information can reduce adverse selection in credit markets, but negative disclosures can also trigger inefficient bank runs. In our model governments are thus forced to choose between runs and lemons....
Persistent link: https://www.econbiz.de/10013022165
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The Political Economy of Branching Restrictions and Deposit Insurance : a Model of Monopolistic Competition Among Small and Large Banks
Economides, Nicholas; Hubbard, R. Glenn; Palia, Darius - 2021
This paper suggests that the introduction of bank branching restrictions and federal deposit insurance in the United States likely was motivated by political considerations. Specifically, we argue that these restrictions were instituted for the benefit of the small, unit banks that were unable...
Persistent link: https://www.econbiz.de/10013211653
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Who Should Learn What from the Failure and Delayed Bailout of the Odgf?
Kane, Edward J. - 2021
insolvency. The failure of the ODGF was instead a failure of government regulation, rooted in inadequacies in the OGDF …
Persistent link: https://www.econbiz.de/10013243455