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A pyrrhic victory? : bank bailouts and sovereign credit risk
Acharya, Viral V.; Drechsler, Itamar; Schnabl, Philipp - In: The journal of finance : the journal of the American … 69 (2014) 6, pp. 2689-2739
Persistent link: https://www.econbiz.de/10010502195
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A pyrrhic victory? - bank bailouts and sovereign credit risk
Acharya, Viral V.; Drechsler, Itamar; Schnabl, Philipp - 2011
Persistent link: https://www.econbiz.de/10009231413
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A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk
Acharya, Viral V. - 2011
We show that financial sector bailouts and sovereign credit risk are intimately linked. A bailout benefits the economy …-financial sector to fund the bailout may be inefficient since it weakens its incentive to invest, decreasing growth. Instead, the … sovereign may choose to fund the bailout by diluting existing government bondholders, resulting in a deterioration of the …
Persistent link: https://www.econbiz.de/10013123694
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A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk
Archarya, Viral V. - 2013
sovereigns and banks for 2007-11, we show that bailouts triggered the rise of sovereign credit risk. We document that post-bailout …
Persistent link: https://www.econbiz.de/10013090988
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A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk
Acharya, Viral V. - 2015
sovereigns and banks for 2007-11, we show that bailouts triggered the rise of sovereign credit risk. We document that post-bailout …
Persistent link: https://www.econbiz.de/10013037894
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A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk
Acharya, Viral V. - 2013
We show that nancial sector bailouts and sovereign credit risk are intimately linked. A bailout benets the economy by … bailout may be inecient since it weakens its incentive to invest, decreasing growth. Instead, the sovereign may choose to fund … the bailout by diluting existing government bondholders, resulting in a deterioration of the sovereign's creditworthiness …
Persistent link: https://www.econbiz.de/10013080020
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A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk
Acharya, Viral V. - 2011
We show that financial sector bailouts and sovereign credit risk are intimately linked. A bailout benefits the economy …-financial sector to fund the bailout may be inefficient since it weakens its incentive to invest, decreasing growth. Instead, the … sovereign may choose to fund the bailout by diluting existing government bondholders, resulting in a deterioration of the …
Persistent link: https://www.econbiz.de/10012461522
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An anatomy of credit risk transfer between sovereign and financials in the Eurozone crisis
Banerjee, Anurag Narayan; Hung, Chi-Hsiou Daniel; Lo, … - In: Journal of international financial markets, … 41 (2016), pp. 102-120
Persistent link: https://www.econbiz.de/10011475943
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Bank use of sovereign CDS in the eurozone crisis : hedging and risk incentives
Acharya, Viral V.; Gündüz, Yalın; Johnson, Tim - 2018
Using a comprehensive dataset from German banks, we document the usage of sovereign credit default swaps (CDS) during the European sovereign debt crisis of 2008-2013. Banks used the sovereign CDS market to extend, rather than hedge, their long exposures to sovereign risk during this period....
Persistent link: https://www.econbiz.de/10011888333
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Bank use of sovereign CDS in the Eurozone crisis : hedging and risk incentives
Acharya, Viral V.; Gündüz, Yalın; Johnson, Tim - In: Journal of financial intermediation 50 (2022), pp. 1-18
Persistent link: https://www.econbiz.de/10013348118