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Dealing with financial crises: How much help from research?
Pagano, Marco - 2014
Has economic research been helpful in dealing with the financial crises of the early 2000s? On the whole, the answer is negative, although there are bright spots. Economists have largely failed to predict both crises, largely because most of them were not analytically equipped to understand...
Persistent link: https://www.econbiz.de/10010420558
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Enhancing Bank Supervision in Asia: Lessons Learned from the Financial Crisis
Zamorski, Michael J.; Lee, Minsoo - 2015
. Assessments of the global financial crisis invariably point to ineffective finance regulation and supervision as the main reasons … outbreak. The crisis reflected the failure of regulatory authorities to keep pace with financial innovation. Bank supervision … depth. They did not properly implement risk-based supervision, and they failed to identify shortcomings in banks' risk …
Persistent link: https://www.econbiz.de/10011432863
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On the optimal control of interbank contagion in the euro area banking system
Fukker, Gábor; Kok Sørensen, Christoffer - 2021
In this paper we present a methodology of model-based calibration of additional capital needed in an interconnected financial system to minimize potential contagion losses. Building on ideas from combinatorial optimization tailored to controlling contagion in case of complete information about...
Persistent link: https://www.econbiz.de/10012605250
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Fire-sale spillovers and systemic risk
Duarte, Fernando; Eisenbach, Thomas M. - 2013
We construct a new systemic risk measure that quantifies vulnerability to fire-sale spillovers using detailed regulatory balance sheet data for U.S. commercial banks and repo market data for broker-dealers. Even for moderate shocks in normal times, fire-sale externalities can be substantial. For...
Persistent link: https://www.econbiz.de/10010333593
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Transatlantic systemic risk
Trapp, Monika; Wewel, Claudio - 2013
In this paper we study systemic risk for the US and Europe. We show that banks' exposures to common risk factors are crucial for systemic risk. We come to this conclusion by first showing that relations between US and European banks are smaller than within each region. We then show that European...
Persistent link: https://www.econbiz.de/10010319352
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Twelve Years after the Financial Crisis – Too-big-to-fail is still with us. Comments on the Financial Stability Board's Consultation Report 'Evaluation of the Effects of Too-big-to...
Hellwig, Martin - 2020
The paper contains comments made on the Financial Stability Board's (FSB) Consultation Report concerning the success of regulatory reforms since the global financial crisis of 2007-2009. According to these comments, the FSB's assessment of the role of equity is too narrow, being phrased in terms...
Persistent link: https://www.econbiz.de/10012434965
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Federal reserve policies and financial market conditions during the crisis
Brave, Scott A.; Genay, Hesna - 2011
During the recent financial crisis, the Federal Reserve implemented a series of extraordinary and unconventional policies to alleviate the impact of the crisis on financial markets and the economy. In this paper, we examine the effects of these policies on broad financial market conditions,...
Persistent link: https://www.econbiz.de/10010292196
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Contagion and Spillovers: New Insights from the Crisis
Backé, Peter; Feldkircher, Martin; Gnan, Ernest; … - 2010
On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...
Persistent link: https://www.econbiz.de/10011689946
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Securitization and moral hazard: Evidence from credit score cutoff rules
Bubb, Ryan; Kaufman, Alex - 2011
Mortgage originators use credit score cutoff rules to determine how carefully to screen loan applicants. Recent research has hypothesized that these cutoff rules result from a securitization rule of thumb. Under this theory, an observed jump in defaults at the cutoff would imply that...
Persistent link: https://www.econbiz.de/10010286944
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Macroprudential policy at the ECB: Institutional framework, strategy, analytical tools and policies
Cabral, Inês; Detken, Carsten; Fell, John P. C.; … - 2019
later conferred on the ECB by the Single Supervisory Mechanism (SSM) Regulation. The paper describes the ECB …
Persistent link: https://www.econbiz.de/10012141424