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Market Failures and Regulatory Failures : Lessons from Past and Present Financial Crises
Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - East Asian Bureau of Economic Research (EABER) - 2011
The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis : excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...
Persistent link: https://www.econbiz.de/10011278053
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Market Failures and Regulatory Failures : Lessons from Past and Present Financial Crises
Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - East Asian Bureau of Economic Research (EABER) - 2011
The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis : excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...
Persistent link: https://www.econbiz.de/10011278152
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Market Failures and Regulatory Failures : Lessons from Past and Present Financial Crises
Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - East Asian Bureau of Economic Research (EABER) - 2011
The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis : excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...
Persistent link: https://www.econbiz.de/10011278206
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MEASURING SYSTEMIC RISK
Acharya, Viral V.; Brownlees, Christian; Engle, Robert; … - In: Managing and Measuring Risk:Emerging Global Standards …
AbstractThe following sections are included:OverviewThe Dodd-Frank Wall Street Reform and Consumer Protection ActEvaluation of the Dodd-Frank ACTMarket-Based Measures of Systemic RiskInterconnectednessStress TestsTransparencyNYU Stern Systemic Risk RankingsSystemic Risk MethodologySystemic Risk...
Persistent link: https://www.econbiz.de/10011206372
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TAXING SYSTEMIC RISK
Acharya, Viral V.; Pedersen, Lasse; Philippon, Thomas; … - In: Managing and Measuring Risk:Emerging Global Standards …
AbstractThe following sections are included:Systemic Risk and the Financial Crisis of 2007 to 2009Regulating Systemic RiskObstacle 1: Measuring Systemic RiskObstacle 2: Implementing the Tax on Systemic RiskObstacle 3: Is Moral Hazard Solved?The Dodd-Frank Wall Street Reform and Consumer...
Persistent link: https://www.econbiz.de/10011206586
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Economics with Market Liquidity Risk
Acharya, Viral V. - 2020
marketplace such as a supermarket or a stock exchange with adequate liquidity. Further, people must have confidence that such a … well-functioning marketplace will also exist in the future. Market liquidity risk is the risk that the market will function … effects of market liquidity risk on asset pricing, investment management, corporate finance, banking, financial crises …
Persistent link: https://www.econbiz.de/10012847877
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A Crisis of Banks as Liquidity Providers
Acharya, Viral V. - 2013
Can banks maintain their advantage as liquidity providers when exposed to a financial crisis? While banks honored their … credit lines drawn by firms during the 2007-09 crisis, this provision of liquidity by banks was only possible because of …
Persistent link: https://www.econbiz.de/10013091384
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A Crisis of Banks as Liquidity Providers
Acharya, Viral V. - 2013
Can banks maintain their advantage as liquidity providers when exposed to a financial crisis? While banks honored their … credit lines drawn by firms during the 2007-09 crisis, this provision of liquidity by banks was only possible because of …
Persistent link: https://www.econbiz.de/10013091967
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A Crisis of Banks as Liquidity Providers
Acharya, Viral V. - 2013
Can banks maintain their advantage as liquidity providers when exposed to a financial crisis? While banks honored their … credit lines drawn by firms during the 2007-09 crisis, this provision of liquidity by banks was only possible because of …
Persistent link: https://www.econbiz.de/10013076376
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Market Failures and Regulatory Failures: Lessons from Past and Present Financial Crises
Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - Asian Development Bank Institute, Asian Development Bank - 2011
The paper analyzes the financial crisis of 2007–2009 through the lens of market failures and regulatory failures and presents a case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector due to mispriced government guarantees;...
Persistent link: https://www.econbiz.de/10008829846