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Europe’s financial structure has become strongly bank-based – far more so than in other economies. We document that an … paper concludes by discussing policy solutions to Europe’s “bank bias”, which include reducing regulatory favouritism …
Persistent link: https://www.econbiz.de/10011605842
The 5th joint SUERF/Bank of Finland joint conference was held in Helsinki on 13 June 2013. The general theme of the …
Persistent link: https://www.econbiz.de/10011689964
to effectively balance long-term goals with short-term performance pressures could be aptly rewarded. This book comprises … industry, the connections between sustainability and financial performance, and other general sustainability and corporate … created as a collaboration between Santander Bank and the University of Cantabria. SANFI works to identify, develop, support …
Persistent link: https://www.econbiz.de/10014323783
This paper analyses Delta CoVaR proposed by Adrian and Brunnermeier (2008) as a tool for identifying/ranking systemically important institutions and assessing interconnectedness. We develop a test of significance of Delta CoVaR that allows determining whether or not a financial institution can...
Persistent link: https://www.econbiz.de/10011506748
One of the most pressing questions in the aftermath of the financial crisis is how to deal with systemically important financial institutions (SIFIs). The purpose of this paper is to review the recent literature on systemic risk and evaluate the regulation proposals in the Basel III framework...
Persistent link: https://www.econbiz.de/10010334491
The paper analyses the causes of the current crisis of the global financial system, with particular emphasis on the systemic elements that turned the crisis of subprime mortgage-backed securities in the United States, a small part of the overall system, into a worldwide crisis. The first half of...
Persistent link: https://www.econbiz.de/10010266973
around the world to ensure global competitiveness of banks. Using an agent-based model of the financial system, we find that … homogeneous or bank-based financial systems, the most effective regulatory policy to ensure financial stability depends on the …
Persistent link: https://www.econbiz.de/10010319289
The paper provides a baseline model for regulatory analysis of systemic liquidity shocks. We show that banks may have an incentive to invest excessively in illiquid long term projects. In the prevailing mixed strategy equilibrium the allocation is inferior from the investor’s point of view...
Persistent link: https://www.econbiz.de/10010427588
The Brussels Effect, once emblematic of the EU's alleged influence in shaping global regulations, has now become a factor contributing to global regulatory fragmentation. The EU must recalibrate its trajectory towards a liberal and rules-based trading order, prioritizing widespread regulatory...
Persistent link: https://www.econbiz.de/10014560198
Persistent link: https://www.econbiz.de/10011695731