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Ethical Foundations of Financial Regulation

Kane, Edward J. - 2008

Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of … discretion and choose actions for the common good. Agency-cost theories portray regulation as a way to raise the quality of …

Persistent link: https://www.econbiz.de/10012774887

Durable Financial Regulation : Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions

Nakamura, Leonard I. - 2011

This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It …

Persistent link: https://www.econbiz.de/10013125587

Entry and Exit in OTC Derivatives Markets

Atkeson, Andrew - 2014

We develop a parsimonious model to study the equilibrium and socially optimal decisions of banks to enter, trade in, and possibly exit, an OTC market. Although we endow all banks with the same trading technology, banks' optimal entry and trading decisions endogenously lead to a realistic market...

Persistent link: https://www.econbiz.de/10013048057

The Market for OTC Derivatives

Atkeson, Andrew - 2013

normative questions of how regulation of entry impacts welfare …

Persistent link: https://www.econbiz.de/10013084727

Credit Default Swaps and the Credit Crisis

Stulz, René M. - 2010

Many observers have argued that credit default swaps contributed significantly to the credit crisis. Of particular concern to these observers are that credit default swaps trade in the largely unregulated over-the-counter market as bilateral contracts involving counterparty risk and that they...

Persistent link: https://www.econbiz.de/10013150831

The Twilight Zone : OTC Regulatory Regimes and Market Quality

Brüggemann, Ulf - 2013

and disclosure regimes, comprising venue rules and state laws beyond SEC regulation. We also exploit the institutional …

Persistent link: https://www.econbiz.de/10013077219

Central Clearing and Collateral Demand

Duffie, Darrell - 2014

We use an extensive data set of bilateral exposures on credit default swap (CDS) to estimate the impact on collateral demand of new margin and clearing practices and regulations. We decompose collateral demand for both customers and dealers into several key components, including the "velocity...

Persistent link: https://www.econbiz.de/10013059087

International Capital Flows, Returns and World Financial Integration

Evans, Martin D.D. - 2005

International capital flows have increased dramatically since the 1980s, with much of the increase being due to trade in equity and debt markets. Such developments are often attributed to the increased integration of world financial markets. We present a model that allows us to examine how...

Persistent link: https://www.econbiz.de/10012784163

Dating the Integration of World Equity Markets

Bekaert, Geert - 2008

Measuring the integration of world capital markets is notoriously difficult. For example, regulatory changes which appear comprehensive may have little impact on the functioning of the capital market if they fail to lead to foreign portfolio inflows. In contrast to the usual practice of...

Persistent link: https://www.econbiz.de/10012774881

Capital Market Integration and Wages

Henry, Peter Blair - 2010

For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a control group of countries. The temporary increase in...

Persistent link: https://www.econbiz.de/10013151651

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