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SideShadow banks and securitizationLow Interest Rates and the Fall in Credit StandardsThe Nonlinear Effect of Financial …
Persistent link: https://www.econbiz.de/10011206756
We study regulation of the auditing profession in a model where audit quality is unobservable and enforcing regulation is costly. The optimal audit standard falls short of the first-best audit quality, and is increasing in the riskiness of firms and in the amount of funding they seek. The model...
Persistent link: https://www.econbiz.de/10010264117
We investigate whether information sharing among banks has affected credit market performance in the transition …
Persistent link: https://www.econbiz.de/10010301435
We investigate whether information sharing among banks has affected credit market performance in the transition …
Persistent link: https://www.econbiz.de/10010303674
swift and massive liquidity provision by central banks in the wake of both crises is, at least partly, to be credited to … previous research on the role of central banks as lenders of last resort in crises and on the real effects of bank lending and …
Persistent link: https://www.econbiz.de/10010420558
. First, it highlights the key role that sovereign debt exposures of banks have played in the feedback loop between bank and … fiscal distress, and inquires how the regulation of banks' sovereign exposures in the euro area should be changed to mitigate … European banks and the tendency of EU regulators to rescue rather than resolving distressed banks, and asks to what extent the …
Persistent link: https://www.econbiz.de/10010421125
The euro crisis was fueled by the diabolic loop between sovereign risk and bank risk, coupled with cross-border flight-to-safety capital flows. European Safe Bonds (ESBies), a union-wide safe asset without joint liability, would help to resolve these problems. We make three contributions. First,...
Persistent link: https://www.econbiz.de/10011984804
appropriate institutional infrastructure in the context of the European Union and the euro area. Forbearance on the part of banks …-prudential concerns should not induce the authorities to delay clean-ups of banks in difficulties. To minimise the macroeconomic fallout …
Persistent link: https://www.econbiz.de/10011984887
A European banking union is necessary to ensure the stability of the European financial system. This paper assesses the EU Commission's proposals for legislation to create a banking union in Europe. The EU Commission's proposal for a regulation creating a single supervisory mechanism is strongly...
Persistent link: https://www.econbiz.de/10011984888
The European macro-prudential policy framework operates at two levels. First, the ESRB has a legal responsibility for macro-prudential oversight in the EU. Second, various national and EU authorities have responsibility for the implementation of macro-prudential policy. The creation of a...
Persistent link: https://www.econbiz.de/10011984889