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A new economic revolution liberating financial markets? Seeks to answer some of the questions driving the existential crisis embroiling finance: What is currency? What is value? What is a business? What is a bank, even?This article discusses how regulatory reform, transformative technologies,...
Persistent link: https://www.econbiz.de/10013021212
This paper develops and implements an equilibrium model of systemic risk. The model derives a systemic risk measure, loss beta, in characterizing all too-big-to-fail banks using a capital insurance equilibrium. By constructing each bank's loss portfolio with a recent accounting approach, we...
Persistent link: https://www.econbiz.de/10013218351
cryptocurrency policies, we identify the influence of crypto regulation on pricing using both the difference-in-differences design …This paper finds that jurisdictional gaps in cryptocurrency regulation, including regulatory uncertainty and the …
Persistent link: https://www.econbiz.de/10013492508
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I test theories of regulation using comprehensive datasets on regulatory changes, equity returns, and firm fundamentals …. I find that firms in industries subject to more regulation earn significantly higher returns than firms in deregulated …
Persistent link: https://www.econbiz.de/10014236617
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This paper examines market liquidity in the post-crisis era in light of concerns that regulatory changes might have reduced dealers' ability and willingness to make markets. We begin with a discussion of the broader trading environment, including an overview of regulations and their potential...
Persistent link: https://www.econbiz.de/10011547707
regulation interacts with monetary policy to shut down hedging incentives when interest rates rise …
Persistent link: https://www.econbiz.de/10012849965
Government interventions such as bailouts are often implemented in times of high uncertainty. Policymakers may therefore rely on information from financial markets to guide their decisions. We propose a model in which a policymaker learns from market activity and where market participants have...
Persistent link: https://www.econbiz.de/10012243366
On September 3-4, 2009, SUERF and Utrecht University School of Economics jointly organized the 28th SUERF Colloquium on "The Quest for Stability" in Utrecht, the Netherlands. The papers contained in this SUERF Study jointly published with DNB and Rabobank are based on contributions to this...
Persistent link: https://www.econbiz.de/10011706507