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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

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

Nakamura, Leonard - 2011

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

Persistent link: https://www.econbiz.de/10012461652

Regulatory Structure in Futures Markets : Jurisdictional Competition Among the SEC, the CFTC, and Other Agencies

Kane, Edward J. - 1984

establishes an evolutionary mechanism for adapting regulatory structures to technological and regulation-induced innovation. Using …

Persistent link: https://www.econbiz.de/10012477763

European Financial Markets After EMU : A First Assessment

Danthine, Jean-Pierre - 2000

This paper reviews the first evidence on the impact of European Monetary Union on European capital markets, one year after the launch of the single currency. Our assessment of this evidence is very favourable. On almost all counts EMU has either changed the European financial landscape already...

Persistent link: https://www.econbiz.de/10012470687

Credit Default Swaps and the Credit Crisis

Stulz, René M. - 2009

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/10012463266

Entry and Exit in OTC Derivatives Markets

Atkeson, Andrew G. - 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/10012458250

The Market for OTC Derivatives

Atkeson, Andrew G. - 2013

normative questions of how regulation of entry impacts welfare …

Persistent link: https://www.econbiz.de/10012459749

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/10012458774

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/10012459304

Global Diversification, Growth and Welfare with Imperfectly Integrated Markets for Goods

Dumas, Bernard - 1999

In this article, we examine the effect of the imperfect mobility of goods on international risk sharing and, through that, on the investment in risky projects, welfare and growth. We find that the welfare gain of financial market openness is not monotonic with respect to investors' risk aversion...

Persistent link: https://www.econbiz.de/10012471806

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