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Persistent link: https://www.econbiz.de/10009786828
has partial control over bank regulation it can exercise regulatory lenience. Two, the Fed’s stronger output orientation … procyclical capital regulation. …
Persistent link: https://www.econbiz.de/10009640318
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This paper analyzes cooperation between sovereign national authorities in the supervision and regulation of a … multinational bank. We take a political economy approach to regulation and assume that supervisors maximize the welfare of their own … the countries are perfectly aligned, Þrst best closure regulation cannot be implemented; (2) the more aligned the …
Persistent link: https://www.econbiz.de/10009636539
A central puzzle in international finance is that real exchange rates are volatile and, in stark contradiction to effcient risk-sharing, negatively correlated with cross-country consumption ratios. This paper shows that incomplete asset markets and a low price elasticity of tradables can account...
Persistent link: https://www.econbiz.de/10009636531
In this note we demonstrate that in affine models for bilateral exchange rates, the nature of return interdependence during crises depends on the tail properties of the fundamentals' distributions. We denote crisis linkages as either strong or weak, in the sense that the dependence remains or...
Persistent link: https://www.econbiz.de/10009636547
Some regulation is needed to enhance growth and economic welfare, but too much undermines productivity. Generally, the …
Persistent link: https://www.econbiz.de/10009668590
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