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Brunnermeier, Markus K. - 2013

Financial institutions may be vulnerable to predatory short selling. When the stock of a financial institution is shorted aggressively, leverage constraints imposed by short-term creditors can force the institution to liquidate long-term investments at fire sale prices. For financial...

Persistent link: https://www.econbiz.de/10012459149

Short-Run Pain, Long-Run Gain : The Effects of Financial Liberalization

Kaminsky, Graciela - 2003

We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging economies since 1973. We also construct an algorithm to identify booms and busts in stock market...

Persistent link: https://www.econbiz.de/10012468911

Financial Sector Regulation and Reforms in Emerging Markets : An Overview

Prasad, Eswar S. - 2010

as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest … objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that …

Persistent link: https://www.econbiz.de/10012462228

Using Deferred Compensation to Strengthen the Ethicsof Financial Regulation

Kane, Edward J. - 2001

Defects in the corporate governance of government-owned enterprises tempt opportunistic officials to breach duties of public stewardship. Corporate-governance theory suggests that incentive-based deferred compensation could intensify the force that common-law duties actually exert on regulatory...

Persistent link: https://www.econbiz.de/10012470321

Ethical Foundations of Financial Regulation

Kane, Edward J. - 1997

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/10012472798

Bank Heterogeneity and Financial Stability

Goldstein, Itay - 2020

performance ends up being weaker. Our analyses provide new insights about the regulation of banking sector's architecture and the …

Persistent link: https://www.econbiz.de/10012481571

Financial Globalization, Financial Crises and Contagion

Mendoza, Enrique G. - 2009

Two observations suggest that financial globalization played an important role in the recent financial crisis. First, more than half of the rise in net borrowing of the U.S. nonfinancial sectors since the mid 1980s has been financed by foreign lending. Second, the collapse of the U.S. housing...

Persistent link: https://www.econbiz.de/10012463217

Bankruptcy : Past Puzzles, Recent Reforms, and the Mortgage Crisis

White, Michelle J. - 2008

This paper discusses four bankruptcy-related policy issues. First, what is the economic rationale for having a bankruptcy procedure at all and what defines an economically efficient bankruptcy procedure? Second, why did the number of U.S. bankruptcy filings increase so dramatically between 1980...

Persistent link: https://www.econbiz.de/10012464099

Crises and Sudden Stops : Evidence from International Bond and Syndicated-Loan Markets

Kaminsky, Graciela L. - 2008

The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...

Persistent link: https://www.econbiz.de/10012464398

The Two Crises of International Economics

Dooley, Michael P. - 2007

In this essay, we argue that key assumptions in international macroeconomic theory, though useful for understanding the economic relationships among developed countries, have been pushed beyond their competence to include relationships between developed economies and emerging markets. The...

Persistent link: https://www.econbiz.de/10012465456

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